Restaurants, Eateries Grow Presence In Manhattan
Casual restaurants and eateries have been expanding their presence in Manhattan–think juice shops, gourmet coffee bars and fast-casual chains.
And landlords are jumping on the bandwagon as they look for ways to boost the appeal of their office and residential towers. Last year, the fast-casual industry grew to $44B nationally, an 11.5% jump from 2014, and much of that growth stemmed from new restaurant openings, the Wall Street Journal reports.
Factors like the growth of health- and fitness-conscious consumers, demand for specialty fast-casual options and a dense affluent population have led to a boom of restaurants in NYC.
“Less is being bought in the physical stores and more is being bought online, but what hasn’t changed is the consumption of food and beverage,” Winick Realty Group broker Kenneth Hochhauser says. [WSJ]
