Fifth Avenue in Park Slope is Supersaturated with More than 150 Bars and Restaurants
January 20, 2012
Remember when there was little reason to go out on 5th Ave., unless it was to go to Aunt Suzie’s? Well, now Aunt Suzie’s is closed, and there are dozens clamoring to take its place. WSJ reports that a 31-block span of Fifth Avenue has about 150 restaurants and bars commanding rents up to $60 a square foot.
Today 5th Avenue is “restaurant row” subject to a high amount of business “churn” – consider that Uncle Moe’s burrito shop, Perch Cafe, and Sette Enoteca e Cucina, have also shut down recently. Yet as quick as restaurants close, “spaces are being snapped up by new establishments betting a fresh approach can succeed where predecessors flagged,” according to WSJ.
Examples include Kaffe Roasting House, and the planned Dizzy’s Diner going in where Comida Mercado Fresco used to be.