Saritha Komatireddy(@sarithaforny):The rise in crime, homelessness, and disorder is partially to blame for businesses shutting down. I’ve spoken with restaurant owners who tell me they need to close earlier in the evening because their employees don’t feel safe committing home late at night. When we have an AG who just fights crime, it will bring safety and prosperity to New York.

2hours ago

The rise in crime, homelessness, and disorder is partially to blame for businesses shutting down. I’ve spoken with restaurant owners who tell me they need to close earlier in the evening because their employees don’t feel safe committing home late at night. When we have an AG who just fights crime, it will bring safety and prosperity to New York.

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The Kobeissi Letter@KobeissiLetter

2026.10.17 21:05

BREAKING: The number of restaurants in New York dropped ~2,000 YoY in Q1 2026, posting its largest YoY decline in at least 36 years. This surpasses even the worst contraction recorded in any quarter during the 2020 pandemic. The number of eating and drinking places in New York State has now declined YoY for 4 consecutive quarters, its longest streak since 2021. This comes as restaurants are facing surging operating expenses, including insurance premiums, wages, interest rates, utilities, and health coverage, with overall costs rising faster than national averages. Last year, employee health insurance costs jumped +12.9% for New York-area service firms, business insurance rose +7.0%, while utility costs surged +8.5%, according to the Manhattan Chamber of Commerce. Skyrocketing costs are crushing New York restaurants.

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