Imagine that you are a graduating chef from a culinary school in NYC. Your whole life you have had a dream of being a chef and owning your own restaurant. You do a simple google search for “restaurants spaces for rent in NY”. Your search results produce a list of restaurants for lease. So you click on the first one www.loopnet.com. You find a perfect location on Columbus Ave and you see $17.05/SF/Month. You think great, what a bargain! Then you do the math and you realize that it’s ($17.05 * 2,346SF a month) $40,000 a month. Here is when you realize that in order to make your dream come true, you have to adjust your dream and adjust your wallet. So what do you do, what are your choices if you want to stay in the NYC midtown area?
Stayed tuned for next post!