How he was once "At the top" in the rap game, then his career was fading "Now I'm in the basement".He used to be at the "Number 1" spot, "Now she found her a replacement", after stopped rapping, someone else was in his spot.
Other than the straight forward meaning, In my it's a song about Nelly's love for hip-hop.
Soho is a district in London well known for it's many bars and was also a red light district.
While the song can be understood on many levels, one of those is certainly the narrator's love for the “Ginger Lady”, you as the listener can decide if she is the light he holds before him and the measure of his dreams or if he's singing to his one true love.
Alas, since their marriage ended in 1991, they have not kept in touch. Actors find it hard enough coping with mobile telephones going off.
He came to her mother’s funeral, and they once met in the street, but, other than that, nothing. The idea of a man she described as “a dangerous, disruptive human being” being in the audience, too, might be asking too much of any mortal soul.