Retail Chains Abandon Manhattan: ‘It’s Unsustainable’ Some national chains, both retail and restaurants, are closing outlets in New York City, which are struggling more than their branches elsewhere.

New York Times ^ | August 11, 2020 | Matthew Haag and Patrick McGeehan

[karpov]

For years, Bryant Park Grill & Cafe in Midtown Manhattan has been one of the country’s top-grossing restaurants, the star property in Ark Restaurants’ portfolio of 20 restaurants across the United States.

But what propelled it to the top has vanished.

The tourists are gone, the office towers surrounding it are largely empty and the restaurant’s 1,000-seat dining room is closed. Instead, dinner is cooked and served on its patio, and the scaled-down restaurant brings in about $12,000 a day — an 85 percent plunge in revenue, its chief executive said.

Five months into the pandemic, the drastic turn of events at businesses like Bryant Park Grill & Cafe that are part of national chains shows how the economic damage in New York has in many cases been far worse than elsewhere in the country.

In the heart of Manhattan, national chains including J.C. Penney, Kate Spade, Subway and Le Pain Quotidien have shuttered branches for good. Many other large brands, like Victoria’s Secret and the Gap, have kept their high-profile locations closed in Manhattan, while reopening in other states.

Michael Weinstein, the chief executive of Ark Restaurants, who owns Bryant Park Grill & Cafe and 19 other restaurants, said he will never open another restaurant in New York.

Of Ark Restaurants’ five Manhattan restaurants, only two have reopened, while its properties in Florida — where the virus is far worse — have expanded outdoor seating with tents and tables into their parking lots, serving almost as many guests as they had indoors.

“There’s no reason to do business in New York,” Mr. Weinstein said. “I can do the same volume in Florida in the same square feet as I would have in New York, with my expenses being much less.

[karpov]

Of course the NYT article does not mention rising crime as a reason keeping people out of New York City and raising costs for businesses. There is a picture of a boarded up store but no mention of the looting that necessitated that.

[blueunicorn6]

Vote Democrat!

[Dilbert San Diego]

It would be racist to talk about riots, inspired by “Black Lives Matter”, an organization we deplorable types are not allowed to criticize.

[V_TWIN]

Never understood why people pay 5k a month to walk up 5 flights to a 200 square foot apartment.

Personally I wouldn’t go to nyc to throw up.

[V_TWIN]

Oh their just fair weather businesses anyway...who needs ‘em.

[ARW]

Buyer’s remorse, I suppose. This article is probably as far as the NYT will go to admit it.

[adorno]

Kamala will fix all that.

With the help of AOC.

[Vermont Lt]

We used to take the train into NYC every year to see a show and have a night “on the town”

It got to be an expensive pain in the neck to get jostled and bumped for hours.

No thanks. I’d rather go to the mountains.

[V_TWIN]

FWIW Florida is overated. ;^)

[IllumiNaughtyByNature]

Apparently Retail Chains don’t want to set up Reparations Pantries? How racist of them.

[SunkenCiv]

http://www.freerepublic.com/focus/news/3873502/posts

[Vermont Lt]

$975,000 a month rent?

That’s insane. What is more insane is that Victoria’s Secret was making enough every month to justify that.

One good thing about the Covid is we are learning to make do with a lot less.

[Extremely Extreme Extremist]

This! This right here. How in the F can you go run and get groceries, or a simple bite to eat? It would literally take a good 2 hours or so.

I guess some people like the hustle and bustle and the constant car honking. Not me. If I don't move to E TN, then I'm staying here in Northeast Wisconsin.