New York restaurant count dropped roughly 2,000 year-over-year in Q1 2026, the largest decline in at least 36 years and surpassing any quarter during the 2020 pandemic. The Manhattan Chamber of Commerce points to surging costs: health insurance up 12.9%, business insurance up 7.0%, utilities up 8.5%. This is the fourth consecutive quarterly YoY decline, the longest streak since 2021.
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