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New Yorkers eat out 130 percent more than other Americans: Report

May 17, 2019

New Yorkers spend $8,082 per year on food outside the home (including take-out), according to a new report from CBRE. This is 130 percent more than their peers across the U.S., who spend an average of $3,512 per year.

When it comes to real estate, food-and-beverage deals have made up between 20 and 35 percent of the total number of transactions in Manhattan since 2015. Retail employment in food-and-beverage has grown substantially as well, having grown faster than nonfood retail employment overall and at a quicker pace than employment in New York City generally.

“It’s no surprise that New Yorkers spend more money on outside food and beverage than the rest of the country, but the effect that this has on retail real estate has been an interesting trend to follow,” said Nicole LaRusso, CBRE’s director of research and analysis for the tristate region, in a press release. “The food-and-beverage industry is consistently the most-active tenant type in Manhattan when it comes to the number of deals; this industry is an integral part of retail spending in New York City, and it’s continuing to grow.”

Food-and-beverage spending in Manhattan is higher than in the rest of the nation for several reasons. New York has a high number of single-member households: New York County (Manhattan) single-person households account for 46 percent of the total, versus 27 percent nationally. Next, the out-and-about lifestyle of New Yorkers is more about walking on the street than it is car-oriented, and this translates to food-and-beverage outlets being more readily accessible. Moreover, food-and-beverage costs tend to be higher in New York than in other areas of the country.

By Brannon Boswell

Executive Editor, Commerce + Communities Today

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