Merchants at Chinatown mall claim extortion

Merchants in the city-owned mall beneath the Manhattan Bridge, at 88 East Broadway, have alleged that they are being extorted by the mall’s managers, who they say have demanded cash in exchange for leases and lease extensions. City officials have launched an investigation into the merchants’ claims. Developer East Broadway Corporation, who leased the 88 East Broadway mall from the city for 50 years beginning in 1985, sub-leases the mall’s retail space to about 100 small merchants for $500 to $60,000 per month, according to advocacy group the Coalition to Protect Chinatown and the Lower East Side.