Beef prices are still pretty gosh darn high as U.S. cattle herds remain thin. As such, Keith McNally’s Minetta Tavern, one of two Michelin-starred steakhouses in New York, has hiked the price of its cote de boeuf to $140, resulting in a REAL COST of $180 after tax and 20% tip. Minetta also hiked its strip to $58 bucks, or $75 after tax & tip. McNally had previously been charging $134 and $54 for these steaks, per The Price Hike’s last report.
Some perspective: The cote de boeuf has seen a 55% hike from its opening price of $90 back in 2009, while the strip has seen a 61% hike from the $36 price tag I quoted in my Bloomberg News review from the same year. But the dry-aged Black Label burger remains at its opening price of $26. Perhaps that pricey patty had inflation built-in? In any case, what say you world? Are Minetta’s steaks a BUY HOLD OR SELL at these prices?