Pearl River Mart to Re-Open in Tribeca

TRIBECA, NY — A spokesperson for Pearl River Mart confirmed Tuesday evening that the beloved neighborhood market, which closed last year in Soho due to rising rents, will reopen inside a smaller space in Tribeca, at 395 Broadway.

The spokesperson said more details would be released shortly through an "exclusive" the mart had scheduled with another publication.

The Tribeca Citizen, a neighborhood blog, first suggested the store would reopen at 395 Broadway — spreading the rumor and prompting several local publications to reach out. This perhaps sped up the press-release process to Tuesday night rather than Wednesday, as a spokesperson had originally told Gothamist the news would drop Wednesday.

In December 2015, Pearl River Mart closed up shop at 477 Broadway due to skyrocketing rents. Their rent would have shot from $100,000 per month to $500,000 per month if they had re-signed their lease in the Soho spot, Crain's reported.

The mart was established in 1971 by a small group of activists from China, Hong Kong and Taiwan, and has become a cult favorite in New York City.

Photo courtesy of Pearl River Mart