Today its brethern IHOP across the country shed imitation maple syrup tears of mourning.
Photo: Ken Wolter / Shutterstock.com
In 2012, it was revealed that the similarly despised East Village IHOP was paying $45,833 per month, so it’s a fair bet that the ill-fated pancake house at the corner of Varick and Carmine Streets, which opened in 2013 after waffling on its lease, was hitting something in that range. The real-estate entity behind the restaurant had initially signed on for a 49-year lease, which Prince and the Revolution will tell you is a mighty long time, and in February it was revealed some $200,000 in back rent was owed to the landlord. Now the short-stacks are gone. New York City rent: It even kills entry-level chain restaurants. [Eater NY, Related]
