My business, Dubé Juggling, has been in operation since 1975 – all 39 years in Manhattan. A legacy brand, we are fortunate to have over 100,000 names in our database, including many well-known performers such as David Blaine, Penn and Teller, Cirque du Soleil, and Ringling Brothers. But none of this matters much when up against a Goliath and the real estate market of New York City.
I have leased at 520 Broadway in SoHo for 23 years and was the first “upscale” tenant in my building – a departure from the type of tenancy in the building up to that time – primarily sewing factories. For sometime, I became the showpiece for management as they toured prospective new tenants through my space as an example of where the building was going. My pioneering efforts there were valued and rewarded by more favorable rents. However, as a commercial tenant, there is no rent protection, and business life in a market of rising rents can be harrowing.
When my management called to set up an appointment in person with my landlord, I was worried. I was sure that there was no problem with our behavior as tenants, no complaints nor any outstanding debt. The landlord would not make a visit for such matters. As scheduled, on July 25th, one day before my birthday, my landlord visited me at 520 Broadway. He sensed my angst as he said, “I hate to be the bearer of bad news,” and explained that my property was being leased to clothing retail giant Michael Kors and that my lease was not being renewed. A few days later, I received a termination of lease, effective August 31, 2013. Online, the story was already old news. Kors had leased the ground floor retail and second floor. But, the company later opted for the 3rd floor, which my business occupied. 520 Broadway was to be their international headquarters and flagship store.
This was our banner year for media exposure. We were featured in the New York Times (see here) as well as the Wall Street Journal, and, on October 16, 2013, I was honored to be named one of the “10 Best Classic Stores In NYC” by Gothamist. I was in good stead, alongside legendary shops such as Bloomingdale’s, The Strand, Pearl Paint, Bigelow, and FAO Schwarz. However, at the time, writer Rebecca Fishbein had no idea that I was being given the boot when, ironically, she wrote:
It may seem strange that one of the city’s standout old school stores caters specifically to jugglers, but at least there’s some proof New York still has a unique soul, even while it seems poised to be eaten alive by banks.
When I emailed her, the staff of Gothamist, who knew me well, was horrified and immediately requested a phone interview for a follow-up story, which you can read here.
I have negotiated a stay of execution until January 6, 2014, only a few short weeks away. I have been combing the boroughs of New York City as well as New Jersey to find appropriate space for my business. It has been a daunting task; I occupy an entire floor of my building – 5000 square feet. I have not only a warehouse full of inventory, office equipment, furniture, and machinery to contend with, but I also have to consider employees, a showroom, and a brisk walk-in trade in my relocation. Rents everywhere have soared. Areas of Brooklyn and Queens are as expensive as Manhattan. I have explored a myriad of possibilities. There are simple options available to anyone outside the city, such as just moving the contents of my business temporarily to one’s basement and garage. But in NYC, every square inch of space is coveted and priced accordingly.
Construction has been underway in the building, seemingly everywhere around us. Everything in the building is about Michael Kors. Time is running out, and I am feeling very closed in as a black netting covers the building for exterior work. Our light, as well as our prospects, have been substantially dimmed by the Shroud of Kors…
Note about the Numbers: My rent is $12,500 per month. However, the market for SoHo is TWICE that (about $25,000 per month per floor). Michael Kors will be renting three floors at $350,000 per MONTH in a 15 year leasing deal. That’s $4,200,000 per year.















