Since opening its doors last year, the West Village's IHOP has been a source of fury for the neighborhood. Residents will presumably be delighted to know that it's dying a rather rapid death after just 18 months of operation.
According to Grub Street, the doomed IHOP was locked into a 49-year lease with a hefty price tag of $45,833 a month. Earlier this year, it was revealed that it was about $200,000 behind in rent, which all but spelled out its fate.
This is further evidence that the New York City rent struggle is real.
[via Grub Street]
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