Iris Nails On Smith Street Closes Its Doors After Their Lease is Bought Out

Another business casualty on Smith Street. Iris Nails at 110 Smith Street at the corner of Pacific Street just vacated its storefront at the end of last week.
Reader Allison wrote to me a few days ago to let me know. She says:
"I live in the neighborhood up on Hoyt near Atlantic and was shocked to see that Iris Nails (a chain no less!), shut down. They actually called me to tell me it was happening this [past] Sunday (I'm a regular there). That their lease got bought out...It's crazy that even a chair nail salon can't survive on Smith St these days. Very sad…."
Iris Nails opened at this location in the spring of 2010. Back in 2008, the storefront was renting for $12,000 per month, which was already high at that time. One wonders how much the new tenant will be paying for this prime location.




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Another Nail Place To Open On Smith Street

Back in October 2008, Smith and Hanten's real estate office was marketing the commercial space at the corner of Smith and Pacific Street for $12,000 per month. Even for Smith Street, that seemed a bit expensive for the 1,400 sqft (plus basement) storefront. According to the new sign on the construction fence, Iris Nail will open at that location. One can only hope that they were able to negotiate a better rent.

On the other hand, Iris Nails seems to have a few other locations in Manhattan, two of which are located on Madison Avenue, so they may be used to high rents
The salon is scheduled to open in February.

Related Reading:
What $12,000 A Month Gets You On Smith

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