Tom Colicchio’s 15-year-old restaurant Craftbar has closed due to a rent increase initiated by the landlord. Apparently, rent was increased by 50% to $60,000 a month. This narrative is increasingly prevalent throughout New York City as rents continue to rise. And, as we have seen in recent years with the closing of locations like Union Square Café due to similar issues, even the most beloved businesses are not immune to these harsh market realities.

You can read more about Craftbar’s closing here.

Grub street recently published a list of “The absolute best bar you can rent out in New York” The list included place like, Bongo and Sid Gold’s Request Room.

This could be a great revenue stream for any business looking to capitalize on their restaurant, bar, or business.

Red the full list here

Last week Eater staff celebrated the 20^th anniversary of Keith McNally’s restaurant Balthazar. As part of the event, Eater published some numbers giving insight into the operations of the business. Some of the numbers are fun, like noting that tables 60, 61, and 62 are the most sought after in the restaurant. Others get more to the heart of the business: The restaurant spends an average of $70,000 on food weekly and generates $25 million in sales annually. While this article is just for fun, it does give a cursory look into some of the analysis that goes into fully understanding how a restaurant operates.

You can read the entire article here.

Although it won’t open until 2020, Eater is already reporting that Daniel Boulud will be opening an 11,000 square foot restaurant and private dining room in One Vanderbilt. The skyscraper in Midtown will be 58 floors when completed. This will be Boulud’s eighth restaurant in New York. He will also operate an Epicerie on the ground floor of the building.

You can read more about One Vanderbilt and Boulud’s project here.

West coast brand Locol is looking to shakeup the very competitive coffee market by offering good coffee for $1. This excellent New York Times article delves into the current trends of the coffee business and how Locol is looking to buck them. By utilizing the efficiencies of a fast food model, Locol looks to offer on trend coffee at a fraction of the price. Further to this point, unlike at other coffee places, milk and sugar are an additional charge at Locol. So unlike at most places, black coffee drinkers will not need to absorb the costs associated with their milk-and-sugar counterparts.

You can read more about Locol’s coffee plans at The New York Times.

Spagettii donuts?

Churro ice cream sandwich?

Sigh me up! Read more here