Soaring Real Estate Prices Continue to Put NYC Gems Out of Business

Foodable WebTV Network

Foodable WebTV Network

It’s no shocker that New York City real estate is sky high, and it’s only getting worse. As one of the most thriving food cities in the nation, this brings up a few concerns: When all is said and done, what happens to the underground restaurants? The favorite local gems? The family-run hole-in-the-walls? Despite what many proclaimed foodies put into the social universe, the NYC dining scene – the great spots – aren’t limited to just the see-and-be-seen venues. El Sombrero (Stanton St.) is a perfect example of a restaurant hanging on by a thread. 

But price hikes aren’t affecting just the independents or small chains – even prestigious venues are feeling the blow with doomsday in sight. Take the Four Seasons restaurant, for example. Read More