News

Fast casuals, QSRs leases spike up in Manhattan since 2010

July 16, 2019

Fast casual and quick-service restaurants account for 35% of food and beverage leases in Manhattan, a big spike from 15% in 2010. And that figure is expected to continue to increase, according to a New York Post report, as more chains seek to expand in New York City.

Consumer demand for limited-service brands is fueling the growth, since the average New Yorker spends just over $8,000 a year on food outside of the home. That compares to $3,512 on average among consumers elsewhere in the country.