Viewing NYC Articles Categorized Under Business

[WATCH] We Spent $250K To Open A NYC Bakery—Now It Brings In $50 Million A Year

2025-01-11T12:00:00-05:00

Elisa Marshall and Benjamin Sormonte invested all of their life savings, plus more money from family and friends, to open a cafe called Maman in New York in 2014. Last year, Maman's 34 locations brought in nearly $50 million. "It was one of the biggest financial risks we could ever take," says Marshall.

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[VIDEO] I Ran the NYC Marathon to Find Out How Marathons Make Money

2024-11-11T12:00:00-05:00

The NYC marathon is the largest in the world that spans all 5 boroughs and is a tentpole event for the city. But how do marathons make money? I met with the marathon’s race director, the naming sponsor, Manhattan’s borough president, an elite American runner and ran the marathon myself to find out.

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[WATCH] Learn About The Rise of the Halal Guys Empire in This Short Video

2024-06-13T12:00:00-04:00

The Halal Guys is a popular food cart and restaurant franchise that started in NYC. Their menu consists of chicken, gyro, or falafel, served either in a wrap or over rice, with lettuce and tomatoes, and their famous white and red sauces.

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[WATCH] Can The NYC Yellow Taxi Survive Uber And Lyft?

2023-10-25T12:00:00-04:00

Yellow taxis are an iconic symbol synonymous with New York. But it’s a tough job with drivers on average working more than 9 hours a day, 6 days a week. Taxi’s have also had to contend with a host of other issues. Medallion prices were artificially inflated in the early 2010's due to predatory lending forcing many owner-operators into bankruptcy. The industry has also been overwhelmed by ride hailing services like Uber and Lyft which launched in New York in 2011 and 2014 respectively. Today roughly 13,000 yellow taxis compete with about 80,000 ride-share drivers.

Chapters:
00:00 — Introduction
01:57 — The legacy of yellow taxis
03:58 — The medallion crisis
08:55 — The rise of ride-hailing services
11:43 — The future

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[WATCH] How Empty Offices Are Ruining New York City and Other American Cities

2023-10-07T12:00:00-04:00

Major American cities such as New York and San Francisco face serious problems — mass migration, empty offices and declining tax revenues. These trends have had a direct impact on cities, which rely on tax revenues for funding, a significant portion from commercial real estate. Stijn Van Nieuwerburgh has defined this cycle of spillover effects as the 'urban doom loop.' Watch the video above to learn more about the so-called 'urban doom loop' threatening American cities, and what local governments can do to avoid falling further into fiscal trouble.

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[WATCH] Why America's Biggest Cities Are Littered With Vacant Lots

2023-05-20T12:00:00-04:00

From New York to Austin, America’s biggest cities are littered with vacant plots of land because property tax bills can skyrocket once vacant lots are developed into homes and apartments. WSJ explains the unseen role property taxes play in the country’s housing shortage and explores the merit of a land-value tax.

0:00 What’s wrong with the current U.S. property-tax system?
0:41 Why taxes go up when property improvements are made
2:22 Analyzing the scale of vacant land in Austin
3:52 The pros and cons of a land-value tax

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[REPOST] Meet Rustie Gungor, One of New York City's Last Remaining Book Binders

2023-05-06T12:00:00-04:00

In the mechanical era, most versions of bookbinding are done by computer-run machines than churn out thousands of books per day. Handmade books, and book repair is a dying art, and the once-rich industry in NEw York City has dwindled down to just a handful of small businesses.

One of the last remaining bookbinding businesses in the City is a small basement shop in Yorkville called Rustie's Bookbinding. In this video from NYU Tonight's Caitie Hawthorne, hear all about the art of bookbinding from owner Rustie Gungor himself.

Rustie Gungor is one of the few book binders left in New York City. Here, we take a look inside his workshop and his rare, dying craft.

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[VIDEO] How The Last Artificial Flower Factory In NYC Handcrafts Designs For Celebrities

2023-01-18T12:00:00-05:00

M&S Schmalberg is the last factory handcrafting custom fabric flowers in New York’s historic garment district. The family business has designed flowers for celebrities and designers since 1916. But competition from overseas flower manufacturers has made it difficult to stay afloat.

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[WATCH] How Junior's Bakes 5 Million Cheesecakes During A Cream Cheese Shortage

2022-10-24T12:00:00-04:00

New York cheesecake institution, Junior's, has been slinging out towering slices since 1950. But in recent years, the company has faced pandemic closures of its restaurants, skyrocketing ingredient prices, and a cream cheese shortage. We visited the New Jersey factory to see how Junior's third generation is keeping tradition alive amid shrinking margins.

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[WATCH] Why No One Wants This New York City Skyscraper

2022-10-04T12:00:00-04:00

Manhattan's World Trade Center site is still incomplete.

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