McNally Jackson

Soho

McNally Jackson bookstore on Prince Street. Image by Carl Mikoy via Flickr.

Bad news took a U-turn at the start of this year when beloved independent bookstore McNally Jackson announced that it would not be closing its doors on Prince Street in Soho after all. The news came a few months after after owner Sarah McNally, who opened the store in 2004, announced the store would be moving out of the neighborhood due to a 136 percent rent increase (from $350,000 to $850,000). The flagship location of the bookstore is not merely staying open; it will be launching new branches in Williamsburg and Laguardia Airport, and as New York Magazine reports, is on an expansion binge of sorts with stores planned for South Street Seaport and Downtown Brooklyn‘s new City Point complex.

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Soho

McNally Jackson bookstore staying put on Prince Street

By Devin Gannon, Wed, January 2, 2019

Photo of McNally Jackson via Flickr

Beloved independent bookstore McNally Jackson will not be closing its Soho location after all, the Bowery Boogie reported on Wednesday. The good news comes just a few months after the bookseller announced it would have to move out of the neighborhood, its home for the last 14 years, due to a 136 percent rent increase.

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City Living, Nolita, real estate trends, Soho

McNally Jackson bookstore on Spring Street. Image by Carl Mikoy via Flickr.

As one of New York City’s finest all-around independent bookstores, McNally Jackson booksellers on Prince Street is a literary standby for the latest bestsellers as well as thought-provoking political non-fiction, art books, cards, magazines, readings and more. Though the shop occupies a spot on one of the city’s most highly-trafficked “High Streets,” it has endured for 15 years, long enough to be taken for granted. But that would, of course, be a mistake in the city’s current environment of empty storefronts in high rent neighborhoods because only Amazon can afford the rent. And right about the time Amazon has opened a storefront in Soho, the beloved bookseller is moving out after the rent was raised to $850,000–a 136% increase. Fear not, the owner is opening again in a new location, but unlike other, less gutsy mom-and-pop proprietors, she has no fear of being very vocal about the issue, Fox5 NY reports.

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