Creator explains a restaurant's failurefrom @sammicohentalks

Transcript

It's the end of an era for the tin building. When it opened less than four years ago, it was supposed to be one of Manhattan's most ambitious food projects. Celebrity chef Jean Georges was behind it. It was in a gorgeous landmark building that took years to restore. There was over 53,000 square feet of space. So Jean Georges partnered with Howard Hughes Corporation to bring this vision to life. It was a very ambitious vision with 20 different food experiences, and this ranged from restaurants to bars to the market itself. But then the Howard Hughes Corporation who owned it spins it off into a new public company called Seaport Entertainment Group in 2024. So better talk about the performance of the TIN Building. They were never able to make this model work and they were losing around $100,000 a day on average. They had a $33,000,000 loss in 2024 alone. No the damning part here was the location. It's not like New York has a shortage of food halls. So when you look at the location it was pretty far out of the way and hard to get to and there was never really an x factor that made it worth the rank. They did have a few restaurant concepts that tier doing decently well like the Worse of Red Pearl. So per an better article that broke today, they are going to try to relocate some of the restaurants that were working. I'm probably in the minority here because I live in LA. So when I visit New York, everything feels magical. But I I was reading this Grub Best article that came out a while ago, and they called tier Denton Building a VIP cruise ship, and that was the feel of it. But I disagree. I actually really liked it. And today, the same day that the Tinn Building announced that its doors were officially closed, a press release comes out and says that they are opening a balloon museum. As always, I wanna hear your thoughts.