Culinary trends are born in NYC. The dining scene is active and this attracts consumers from all over the world. This also makes real estate expensive and regulations strict. Even high-profile restaurants that have had long-standing success are closing or moving locations, such as Yaffa Café and the Union Square Cafe.
But even though it seems NYC restaurant closings have been excessive lately, there has still been a boom for the NYC restaurant industry. In 2006, there were 18,606 restaurant permits. This has increased by more than 27%, with 23,703 permits at the start of the 2015 fiscal year. Read More