Gothamist: Bloody Thursday: Triple Restaurant and Cafe Closings

Brainwash

Sat, 21 Jun 2008 16:45:40 -0500

They take it as a loss on their taxes. If you own a bunch of properties and some are successful, you can weigh some against the others to wiggle through loopholes.

TracerBullet

Fri, 06 Jun 2008 12:03:06 -0500

Someone has to explain something to me. I see all these institutions being priced out, yet the stores stay unleased. Coliseum Books close a year and a half ago and the space is still available. How are landlords possibly making money?

hslaton

Fri, 06 Jun 2008 08:50:53 -0500

What a shame. Cafe Brigitte was a charming little place, and I had many good nights reading in Alt.Coffee. If the pattern continues, eventually everything that gives New York its backbone -- shoe shine spots, bodegas (not "gourmet" delis -- a word that, along with "luxury," I could not be more sick of), diners, and stores selling anything other than fashionable, overpriced clothing (set to techno music) -- will close. The rich will have finally, fully inherited the city, and they will walk around and hate it, because they destroyed the street life that made it great. Or maybe they'll love it. F*** them either way.

Brainwash

Thu, 05 Jun 2008 19:25:28 -0500

Where are all the hackers going to hang out now that alt.coffee is closed again?

eyekantspel

Thu, 05 Jun 2008 18:52:53 -0500

$18,000 a month does seem like a lot. Let's see, $18,000 a month is about $600 a day. the place has 24 seats. Assuming 2 full seatings each day, the overhead for rent alone is $12.50 a seat. their menu prices are here: http://thetastingroomnyc.com/menu.html Anyone have any idea what is sustainable in the restaurant business? Hard to tell if they are the victim of high rent, or if this is just a case of bad management. As for Chez Brigitte, just saying that the rent doubled doesn't really give enough information to assess. Business leases are negotiated for a long term, not for just a year or two. If the rent was locked in 10 years ago, doubling might not be such a shock. Still, it makes sense that rent increases are driving out lower cost businesses, like diners and cheap eateries.

sonyactivision

Thu, 05 Jun 2008 18:41:12 -0500

these wonderful landlords are going to bring in those big chains and finally give this town that 'touch of Dayton' that's sorely needed. TGIFridays can afford those huge rents, as can The Olive Garden. Even Chipotle's Grill and Applebees will be coming soon!

eyekantspel

Thu, 05 Jun 2008 18:04:11 -0500

Restaurateurs may want to start posting the J-Reaper's picture in the kitchen and alerting the staff.

rcltrh

Thu, 05 Jun 2008 17:55:41 -0500

Congratulations greedy landlords. Before long every mom and pop in the entire city will be closed and everyone can enjoy more branch banks and Corcoran offices as they stroll along empty storefronts. Greed is rapidly becoming our undoing here in the city. It's getting to where no-one can afford to buy a house, pay rent, or even stay at a hotel at over $500 a night. NYC is going to fall hard when it falls, and believe me, it will fall. All our insane prices are unsustainable.