Midtown's Drama Book Shop To Close After Rent Hike: Reports

MIDTOWN MANHATTAN, NY — A Midtown Manhattan book store popular among the theater set will close its doors amid the pressure of rising rents, according to reports.

Drama Book Shop, located on West 40th Street between Seventh and Eighth avenues, will move out of its home for 20 years in early 2019, Crain's New York Business first reported. The business was founded more than 100 years ago and is known for its knowledgeable staff and excellent collection of plays and books on theater, Crain's reported.

The store is also a favorite of Broadway star and New York native Lin-Manuel Miranda. The "Hamilton" scribe visited the Drama Book Shop on Thursday morning to autograph his works currently in the store's inventory.

"Don’t know where the next home for [Drama Book Shop] is yet, but FWIW, I stopped by this morning and signed everything with my name on it —the books, the scores. Go spend money there. To be continued," Miranda posted on Twitter.

Drama Book Shop's vice president Allen Hubby told Crain's that the store was prepared to move out of its current location at the end of its lease. The business was already struggling to pay rent of $20,000 per month, and knew a lease renewal would carry a rent hike of at least 50 percent.

"We knew it was getting too expensive," Hubby told Crain's. "It's hard to cover a $20,000 rent when most of the books you offer only cost about $10. Not to mention salaries, the costs of buying the books, electricity, taxes. We can't afford it."

Hubby is the nephew of Drama Book Store owner Rozanne Seelen. Seelen, 83, has been forced to use personal savings to keep the store afloat during the final months of its lease. Hubby told Crain's that the store, which currently employs 20 people, will try to find a new location.

Read the full Crain's report here.

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