Gastronomy breathes fresh life into New York

First the pandemic and then soaring rents left thousands of storefronts boarded up in New York. But, like the city’s subway, which has yet to regain the cruising speed it enjoyed before the lockdown, New York’s commercial buzz is gradually coming back, thanks to the restaurants that have opened in recent months. This is not only an economic issue, but also a sign of confidence and even of livability, as entire blocks regain signs of life after being engulfed by a black hole and a sense of lawlessness.

New York’s thousands of empty storefronts are filling up faster than many predicted, and this is largely due to taquerias, sushi and ramen bars — in short, a range of global cuisine, mostly served in small spaces with a few tables and affordable prices. According to a study published by the Department of City Planning, catering businesses dominated by Mexican, Japanese, and Caribbean cuisine are responsible for the city’s commercial revival, mostly happening outside Manhattan.

Approximately 16,000 of the city’s 143,000 storefronts were vacant in the third quarter of 2024, with the vacancy rate slightly above 11%, though the proportion of vacant storefronts has declined citywide for four consecutive quarters. Storefront vacancy rates in Queens, Staten Island, and the Bronx, in particular, are already below 10%, which is considered a healthy level, according to the report. Manhattan, the city’s tourist heartland, and gentrified Brooklyn don’t count because the impact of inflation and lockdown on clientele was less pronounced, although expensive commercial rents in these two boroughs have triggered an exodus of entrepreneurs to more affordable areas.

The regeneration phenomenon is reminiscent of the renaissance of shuttered venues in debt-ridden Greece, which received three bailouts in a row after the financial crisis of 2008: the first sign of hope came with the sudden profusion of popularly priced eateries. New York has traditionally been a destination for foodies, but after four years of heavy job losses in other retail areas, with clothing and electronics stores shutting shop, the city is now relying on bars and restaurants to brighten its darkened storefronts and bolster the economy.

Slow-burn change

Change has been a long time coming. Between 2000 and 2023, the number of restaurants in the city nearly doubled to more than 21,170, according to an analysis of New York State Department of Labor data. Over the same period, there was a decline in nearly every other type of commercial establishment. Since 2020, there have been 2,200 more closures than openings in so-called dry goods, which include clothing, furniture, and beauty products.

Restaurant workers were the first to be laid off during the pandemic, especially in its initial stages. After restaurants could open again, rising rents dealt a massive blow to many already reeling businesses, as an alarmist headline in the tabloid New York Post pointed out in April: “Vacant Storefronts Wreak Havoc.” But the headline alluded to the deterioration of the cityscape as well as the economic cost. “These vacancies are wreaking havoc because closed storefronts are a magnet for the homeless and trash, and the business next door suffers,” explained Gale Brewer, a councilwoman for the Upper West Side, one of the districts hardest hit by the closures.

Just 6% of New York’s storefronts were empty in 2019, compared with nearly 11.2% this year, according to the city’s Department of Finance data released in April. But just eight months later, thanks to a diverse culinary trade, New York’s commercial façade is finally coming back to life.

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