Photo Credit: Eric Ray Davidson

The genius behind Balthazar has done it again. Restauranteur, Keith McNally has just opened his 14th restaurant in the Beekman Thompson Hotel in Lower Manhattan – Augustine. However, as Keith sits down and talks with the New York Times, he is blatantly honest about the reality of opening up another restaurant. McNally opened his first restaurant, Oden in 1980; a time where restaurants were run very differently. McNally talks about the difference between health and safety laws back in the eighties compared to today. The laws being much more lax in the 1980’s. He also touches on the ever rising rent costs in New York City. He quotes, “During my first 30 years as a restaurateur, I expected to pay around 7 percent of my income on rent. Today, it’s at least 14 percent.” McNally gets real about his dislike for many aspects of the business – the rent, the bureaucracy, and over criticism – yet he can’t seem to stay away. See his full story here.