What is the difference in real estate terms between downtown and the Upper West Side?
Danny: The rent, the size, the number of seats are all pretty similar. I think you’ve got to be patient to find the right opportunity. I could have taken a more expensive place on Broadway, or further down on Columbus Avenue or Amsterdam. But it didn’t work with the price point that I have. I’d have to charge more money. Steve: Amsterdam versus Broadway is the difference between a mercenary restaurant and a neighborhood restaurant. [The new Magnolia space] is exponentially more expensive [than the original]. I bought [the original store] last year, inherited a very reasonable rent. But I think that Magnolia was a victim of its own success downtown. When it went in 12 years ago, it got a very good 12-year lease with good rent.
