What does it cost to rent restaurant space in New York?

The cost of renting restaurant space in New York can vary greatly depending on the location, size, and amenities of the space. As of 2023, here is a general breakdown of the average cost of renting restaurant space in different areas of New York City:

Manhattan:

- Premium locations (Times Square, Midtown, Soho, etc.): $250 - $450 per square foot per year

- Other areas: $100 - $250 per square foot per year

Brooklyn:

- Prime neighborhoods (Williamsburg, DUMBO, Park Slope, etc.): $100 - $180 per square foot per year

- Other areas: $75 - $150 per square foot per year

Queens:

- Popular neighborhoods (Astoria, Long Island City, Flushing, etc.): $50 - $120 per square foot per year

- Other areas: $35 - $90 per square foot per year

The Bronx:

- Prime areas (Arthur Avenue, City Island, etc.): $50 - $100 per square foot per year

- Other areas: $25 - $75 per square foot per year

Staten Island:

- Busy areas (St. George, Richmond Town, etc.): $45 - $80 per square foot per year

- Other areas: $20 - $60 per square foot per year

Keep in mind that these figures are just averages and the actual cost can vary significantly based on factors such as the size of the space, the length of the lease term, and any additional renovations or improvements that may be required. It's always a good idea to consult with a real estate agent or commercial leasing specialist who can provide up-to-date information and assist you in finding the best deals on restaurant space in New York.