High rents push out Soho shops

Sign Up for the undefined Newsletter

Rising rents on Broadway in Soho are pushing out small businesses to make way for chains. Major retailers like Topshop and Aldo are taking over storefronts, paying average rents of $424 per square foot. Rent increases are causing smaller retailers and landlords to cash out on their leases rather than pay more for their space. Clothing store Yellow Rat Bastard wants someone to take over its 20,000-square-foot shop, and one of the two Miro Cafes on Broadway will also likely be closing its doors. 

Recommended For You