NEW YORK — A massive rent increase is threatening the future of a New York’s iconic restaurant The Four Seasons, a sprawling, opulently furnished five-star eatery in midtown Manhattan whose very name is synonymous with the phrase “power lunch.”
The impending rent spike could inflate the amount the restaurant currently pays for its 29,476-square-foot digs more than sixfold. Rent on the restaurant would climb to about $3.68 million per year, or $125 per square foot, once the business’ lease agreement expires in late 2016. The restaurant’s current lease has a base rent of $19.74 per square foot.
via Four Seasons Restaurant, Landmark Of New York Fine Dining, Threatened By Rent Increase (EXCLUSIVE).