Originally Posted by
n2ize
Actually that isn't true. Manhattan real estates and rents are through the roof. It is hard for many people to comprehend how much it costs to buy, lease, rent properties in Manhattan. I know a few business owners who had to leave Manhattan and move to the outer boroughs, or out of NYC altogether because, after decades, they could no longer afford to stay there. And all of them put painstaking efforts into being diverse, flexible, and , dare I say the word...trendy. One guy actually moved up to Rochester and he is doing quite well. The cost of rent/lease being a fraction of what it was costing to function in Manhattan. Had he stayed in Manhattan he would be bankrupt today. People I know who had affordable apartments in the Lower East Side could not afford to move back there today, despite the fact they are making much more money today.
So yes, food prices, regulation and high rent is more than enough to put you out of business for good in Manhattan. Unless you are a chain or unless you've got some big money behind you. Manhattan has become a playground for the rich. The cool people all crossed the bridge and are in Brooklyn these days. But for how long I don't know.