i track consumer prices. i am the nyc food critic for bloomberg news. i am ryan sutton.
Catching Elephant is a theme by Andy Taylor
This week in my Bloomberg News column, I award four stars to Paul Liebrandt’s Corton, which has been wowing us since it opened in nearly half a decade ago in the fall of 2008 (when I gave the Tribeca restaurant three stars). What I’m particularly keen on is that THE PRICE IS RIGHT, as Corton offers food and wine that’s no less magnificent than that of New York’s other fancy French-American restaurants. And Corton does so at a slightly lower cost.
Corton’s six-course menu is $125; the nine-course menu is $155. That’s a lower starting price point at dinner than Per Se ($295, service included), Eleven Madison Park, ($195) and Le Bernardin ($127 and up). Corton is also cheaper than the tasting menus (not the prix-fixe menus) at Daniel ($195, $220) and Jean Georges ($198). Of course, you’re not exactly “saving” money at any of these splurge restaurants, but it’s nice to know that Corton, which I’d rank at or near the top of this list, is a few dollars less.
YOU GUYS! Roberta’s in Bushwick is totally doing the negative space thing.
Some bangin new dishes from a recent meal at Roberta’s. Click through for pricing information (about $13-$16).
Price Tweaking: Thomas Keller’s three Michelin-starred Per Se, New York’s second most expensive restaurant after Masa, has increased the price of its most affordable lunch menu to $195, up $10. Service is included. That means a midday meal for two, after tax, will now start at $425, up from $403. All things considered not a heck of a big difference.
Is the new price point a BUY HOLD OR SELL? Your call, but if you’re going to Per Se, might as well do the $295 option. If we look at this from a psychological perspective, you’re now saving LESS MONEY by ordering the cheapest menu, thereby making the priciest option a slightly better deal from a relative value standpoint (i.e. the $295 tasting isn’t THAT much more expensive).
We’re cool with that.
![Fellow Delegates & Members of The Chair! Welcome to the second edition of A La Carte Arithmetic, where we estimate the cost of dining at notable non-tasting menu establishments. This week we consider Pearl & Ash, the subject of a 2.5 star review by Ryan Sutton (that’s me) for Bloomberg News.
Pearl & Ash is a small plates joint, which makes it slightly more difficult to calculate the cost of eating than at say, Perry St., where meals usually involve an entree, appetizer and dessert. The whole point of small plates is to let you eat and order according to the size of your stomach (and wallet), as opposed to three-course menus or tasting menus, where you surrender more of that culinary (and economic) freedom to the will of the chef.
So how much you spend at Pearl & Ash depends less on what you order, and more on how much you order. This is especially true because prices are tightly grouped together. The $3 bread basket notwithstanding, savory dishes range from $8-$16, a meager $8 differential between the spendiest and cheapest items.* Compare that with Carbone, where individual mains range from $29 for the Chinese chicken to $53 for the T-Bone, a $24 differential.**
That all said, we think we’ve cracked the code with this one.
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We feel comfortable saying that guests at Pearl & Ash will spend $12-$75 per person on food. It’s unlikely you’ll spend more (or less) than that. A generous meal for two, before beverages, but after tax and tip, will cost $129. How’d we come up with those numbers? Using our FULL MENU METRIC as the upper limit, that’s how.
A table of four could order the every single item on the menu (including both desserts and two orders of bread) without feeling absurdly full or spendthrift; such an endeavor would cost precisely $301.57 after tax and tip. That gives you a shared 22-course tasting menu (sort of) for $75 per person. The small plates are generally large enough for at least one proper bites per person in a group of four, though some tables might add an extra ice cream sandwich for $6.
So assuming that no reasonable party of four would order more than the entire menu (most will order less), we feel safe saying that $75pp is your upper limit. A party of one looking for a quick snack, might order just the $8 long beans with uni, and that would cost $10 after tax and tip. There’s your lower limit.
This Pearl & Ash range ($12-$75), is a bit larger than the $59-$101 dinner for one range (calculated using a different method) we arrived at for Perry St, and that’s because there’s no set number of courses.
As always, let’s give this menu a SUTTON TEST DRIVE. If I was on a date at Pearl & Ash, here’s how I’d roll. And keep in mind I eat a bit more than most:
Course One:
hanger steak tartare ($9)
bread ($3)
Course Two:
octopus ($11)
meatballs ($11)
Course Three:
the skate ($13)
mussels ($14)
Course Four:
lamb belly ($13)
skirt steak ($16)
uni-topped long beans ($8)
Course Five (Dessert):
fernet branca ice cream sandwich ($6)
Total Cost After Tax & Tip: $134, or $67 per person, a number that falls closer to the high end of our $12-$75 range. We hope you find this little exercise useful, and we invite you to chime in on whether you believe Pearl & Ash is a BUY HOLD OR SELL.
*These numbers were all calculated using the small plate sizes at Pearl & Ash; the restaurant also offers $24-$28 supersized portions for diners who prefer more traditional three-course meals.
**The $29-$53 entree range at Carbone is generally without outliers. We didn’t include entrees for two (i.e. the lobster) or the $140 mixed grill, in part because the mixed grill can feed four.](http://24.media.tumblr.com/83289d88500cf5265b45952fc83bdcf7/tumblr_mmhrd1MZKb1qjunugo1_500.png)
Fellow Delegates & Members of The Chair! Welcome to the second edition of A La Carte Arithmetic, where we estimate the cost of dining at notable non-tasting menu establishments. This week we consider Pearl & Ash, the subject of a 2.5 star review by Ryan Sutton (that’s me) for Bloomberg News.
Pearl & Ash is a small plates joint, which makes it slightly more difficult to calculate the cost of eating than at say, Perry St., where meals usually involve an entree, appetizer and dessert. The whole point of small plates is to let you eat and order according to the size of your stomach (and wallet), as opposed to three-course menus or tasting menus, where you surrender more of that culinary (and economic) freedom to the will of the chef.
So how much you spend at Pearl & Ash depends less on what you order, and more on how much you order. This is especially true because prices are tightly grouped together. The $3 bread basket notwithstanding, savory dishes range from $8-$16, a meager $8 differential between the spendiest and cheapest items.* Compare that with Carbone, where individual mains range from $29 for the Chinese chicken to $53 for the T-Bone, a $24 differential.**
That all said, we think we’ve cracked the code with this one.
For The World's 50 Best Restaurants, "There’s no relationship at all between price and quality,"
Reuters finance blogger Felix Salmon comes to that conclusion (among others) as part of his fine analysis of San Pellegrino’s annual list of the “World’s 50 Best Restaurants,” an analysis that involves graphing menu prices against relative placement on the list.
Salmon’s assertion, however, depends on the following tacit assumption: that the quality of food and service measurably improves as one moves from number 50 on the list to number 1. That’s not something we agree with here at The Price Hike (and when we say “we”, that usually means Ryan Sutton, because Sutton thinks he sounds more authoritative in the first person plural).
No one would dispute that San Pellegrino’s list is a fine collection of places to eat, and that the venues included — Noma, Daniel, Per Se, are among the world’s best places to eat. But is, let’s say, Eleven Madison Park ($195) necessarily a higher quality spot than Alinea ($210-$265) because the former is ranked number five and the latter is ranked number fifteen?
And since Eleven Madison Park is cheaper than the lower-ranking Alinea, can these data points, individually or collectively, be used to argue that price and quality aren’t correlated?
Maybe not.
![Welcome to A La Carte Arithmetic, a new Price Hike feature that aims to estimate the REAL COST, after tax of tip, of dinner at noteworthy restaurants. We’ve been doing this for years with prix-fixe joints, where dinner roughly costs the same for everyone. One menu, one wine pairing. But things become a bit more complicated when you throw choice into the mix.
A La Carte Arithmetic, like our other new feature, Drink Damages, won’t be exact science because everyone has different eating and spending habits. So that’s why we’ll be giving you a range.
Let’s start with Jean-Georges’ Perry St., the subject of a two star Bloomberg News review by Price Hike Editor Ryan Sutton (that’s me!). We believe your three course dinner at Perry St. will cost anywhere from $59-$101 for one, or $115-$172 for two, after tax and tip but before beverages. It’s possible to spend more if you’re a hungrier hippo, but we doubt you’ll spend less.
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So let’s say you and your companion order the cheapest menu items. You start with the sweet pea soup ($12) and the king oyster mushroom carpaccio ($14). For mains you do the $26 crispy chicken (one of the best things on the menu), as well as the $29 pan roasted hake. And for dessert you share the $8 trio of sorbets. That brings you to $115 after tax and tip.
Or perhaps you’re spending a few dollars more. The most expensive starters are the $19.50 rice cracker tuna and the $29 crispy poached eggs. Then you do the spendiest mains, the $38 butter poached lobster (pretty great), and the $36 lamb chops. For dessert? You share the $11 chocolate pudding. The damage is $172. And there’s your range, $115-$172.
The big assumption we’re making is that you and your dining companion aren’t ordering the same things, and quite frankly if you are, you shouldn’t be eating out in a respectable restaurant. So when calculating the upper and lower limits of the range, instead of doubling the cost of the most expensive item (the $29 crispy poached eggs) or the cheapest item (the $12 pea soup), we go to the next most expensive (or affordable) item.
So now that we’ve laid out our assumptions let’s give this theory a test drive, shall we? If I went to Perry St on a date, I’d start with the snapper sashimi ($17.50) and the mushroom carpaccio ($14), then you know what? I’d do the crispy eggs with caviar as a mid-course because the sashimi and carpaccio are just there to whet your palate. Then we’d share the badass lobster (gorgeous kaffir flavors) and the fried chicken, one of the city’s best. For dessert? The chocolate puddin, of course!
The total cost after tax and tip? $175, which is above the high-end of our $115-$172 range. Crap. Yeah, as we said, this isn’t an exact science, and you can spend more if you eat more, as we indicated, but we think the range is still a helpful estimate, especially if you don’t feel like scanning the menu and doing all the mental math.
I mean $3 off isn’t too bad, right?
And no, we have no idea how we’ll do this for small plates spots.](http://24.media.tumblr.com/c5f65d0a55aacfbf3406dde4a0f8961f/tumblr_mm8b106JUV1qjunugo1_r2_500.png)
Welcome to A La Carte Arithmetic, a new Price Hike feature that aims to estimate the REAL COST, after tax of tip, of dinner at noteworthy restaurants. We’ve been doing this for years with prix-fixe joints, where dinner roughly costs the same for everyone. One menu, one wine pairing. But things become a bit more complicated when you throw choice into the mix.
A La Carte Arithmetic, like our other new feature, Drink Damages, won’t be exact science because everyone has different eating and spending habits. So that’s why we’ll be giving you a range.
Let’s start with Jean-Georges’ Perry St., the subject of a two star Bloomberg News review by Price Hike Editor Ryan Sutton (that’s me!). We believe your three course dinner at Perry St. will cost anywhere from $59-$101 for one, or $115-$172 for two, after tax and tip but before beverages. It’s possible to spend more if you’re a hungrier hippo, but we doubt you’ll spend less.
RICH PEOPLE THINGS: Last week, Eater’s Levi Dalton (smart guy) spoke with Del Posto’s Jeff Porter about the Michelin-starred restaurant’s very cool Coravin program, which uses some sort of hypodermic needle to let you drink wine without actually opening the bottle; read the piece and you’ll see what I mean. Not opening the bottle means no oxidation, which means Del Posto can use this Coravin system to sell, say, $500 glasses of 93’ Ornellaia without having to sell off the bottle in one day or even one month. In a blind test, Porter says he couldn’t tell the difference between a new wine and a wine that had been “accessed” three months prior. Pretty neat, ain’t it?
This is a game changer for people who’d like to try rare wines but who can’t afford to (or don’t want to) spend more than $1,000 to sample those vintages. Rest assured, Del Posto’s REGULAR by-the-glass prices are much more restrained. This is just the highest of the high end.
Marea's Menu Used to Be $97. Now It's $99.
Not really a biggie, but for those who keep track of such minutae, considered your yourselves au courant. The REAL COST of a four-course meal at Marea, after tax and tip, but before wine, is now $255 for two, or $510 for four. That said, we’ve always believed the best way to experience this two-Michelin-starred spot is by sitting at the bar and going a la carte: share a few crudi, a few pastas, some wine, and the brodetto di pesce. Do that, and you’ll eat well for a few dollars less. We’re still calling this joint a STRONG BUY.
ALSO: The four-course menu was $89 when Marea first opened in 2009, so all things considered, only $10 bucks spendier four years later. Not too bad.
Here is the OFFICIAL MENU for Gustu in La Paz, which I had the good fortunate of previewing for Bloomberg Pursuits. The restaurant, by Noma co-owner Claus Meyer, uses only Bolivian meats, produce, wines and spirits. If you’ve been, please send us a note about your experiences.
Prices range from 60 bolivanos for a selection of cheeses (around $9 USD), to 135bs for sous-vide llama shoulder ($19) to 145bs for aged beef ($21).
We at The Price Hike and The Bad Deal are making a special effort in 2013 to show off the work of restaurants that seek to elevate and refine that class of cusine that we very arbitrarily deem “ethnic cuisine.” (i.e. pretty much anything that isn’t American, French, Italian, European, Japanese, etc.).
The argument that a particular cuisine isn’t geared for fine-dining is not an argument we accept — nor do we believe that any ethnic food should be confined to the realm of affordability, authenticity or rusticity. Gustu is an attempt to break Bolivian food from those stereotypical shackles.
We think that’s pretty cool.
(Source: restaurantgustu.com)
Say It Loud: Food Costs What the Market Requires Not What Your Nostalgia Desires.
This week I review Carbone in my Blooomberg column, awarding 3.5 stars to the high-end red sauce joint in Manhattan’s Greenwich Village. It isn’t just one of our city’s best new restaurants, it’s one of Manhattan’s best seafood spots, period.
Carbone’s cuisine is the cuisine I ate while growing up on Long Island, at cheap seafood shacks and affordable Italian-American restaurants. Except Carbone isn’t cheap, or affordable, not by Italian-American standards, and not by New York standards. Dinner for two, after wine, tax and tip, can easily cost $350-$400 for two, almost as much as dinner at Jean-Georges.
Over at The Bad Deal today, Saison’s Joshua Skenes chats about his brand new space and the question of value at his tasting menu-only restaurant in San Francisco’s NoMa District. As always, over here at The Price Hike, we present the REAL COST of dining at Saison. That price, after tax and 20% tip, is $384 for one, or $767 for two. With optional wine pairings, that price rises to $574 for one, or $1,148 for two.
By comparsion, a fully-loaded meal for two at Saison around this time last year would have cost $839 — a full $310 less per couple. Back then, the shorter and most likely less luxurious menu was $198 during the week; the wine pairing was $128 per person. This is not a criticism, this is just part of what we do here at The Price Hike, we document moves in the market. We started this Tumblr because we know that prices will almost always rise; we’re just letting you know how much.
We’ve heard great things about Saison, from a hedge fund CEO who dined there recently, and from A Life Worth Eating’s Adam Goldberg, who called Saison America’s best restaurant. And here’s a fine photoset on Flickr from Ulterior Epicure’s Bonjwing Lee.
Saison also offers a canape tasting for $88 per person in the lounge.
Skenes tells The Bad Deal that Saison should really charge $350-$400 for its dinner menu.
Saison’s set dinner menu is currently $298 per person, up from $198 around this time last year. Wine, tax and tip are extra. Is it worth it? Skenes gives us some thoughtful insights in the question of value over at The Bad Deal.
![Welcome to our second ever issue of Drink Damages, where we calculate the cost of imbibing at some of New York’s most important restaurants. This week, we take a look at Perry St. by Jean-Georges Vongerichten, the subject of my two star review for Bloomberg News.
The Real Cost of drinking by the glass at Perry St. starts at $38 for one or $77 for two. That’s based on our Triple Tipple Metric, which adds up the price, plus tax and tip, of the restaurant’s cheapest sparkling wine (Segura Viudas Brut Cava, $10), white wine (Wamakersvallei Chenin Blanc, $10) and red wine (Crios Malbec, $10). Your meal will probably be 3 courses and will last anywhere from 90 minutes to 2 hours.
Are these prices affordable by NYC standards? You bet. Drinking at Perry St is 30% cheaper than at, say, Carbone, where by-the-glass imbibing starts at $111 for two. Keep in mind that Perry St. advertises half-pours (#RESPECT), so if you want to drink less than three full glasses, you can spend a bit less as well.
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Sure, you can also spend a touch more, as the half-glasses are priced about .25 cents more than half the price of a full glass. But the larger point is that half-pours, like small plates, give diners more precise control over their financial, culinary and alcohol experiences.
Sadly, there isn’t much to say about wine service at Perry St. Glasses are almost always poured out of sight and with no bottle presentation. It’s a lazy habit that turns good wines with stories, good wines with a narrative, into cheap commodities. This is also a transparency issue. You want to see the wine coming out of the bottle so you know you’re getting what you’re getting.
Some more talking points about the beverage program:
The wine list is short and organized by the varietal (not by color or country). Most bottles are under $100, many are under $75.
Champagne by the bottle starts at $86 (Georges Gardet Brut), then jumps up to $110 (Alfred Gratien Brut Rose).
Those who begin their meal with a cocktail will spend about the same (or a few dollars more) as those who drink sparkling wine; the cheapest potable is an $11 vodka thyme lemonade.
If you go by the bottle, a $39 Brut Cava (Segura Viudas) will carry you through the meal for less $$$ than by-the-glass, as your real cost after tax and tip will be $50 for two instead of $77.
By the bottle prices start at $27 for whites (Ch. de Bonhoste Bordeaux Blanc blend) and $38 for red (Chateau La Grange de Bessan, 2009 Medoc, Bordeaux). But really, if you’re going to do just one bottle, why not do sparkling for $39 (see above).
By the glass prices range from $10-$25; most are under $20.
The only two wines above $300 are a Dom Perignon 2003 ($473) and a Roederer Cristal 2003 ($510).](http://24.media.tumblr.com/f9b721b44027d22a06fbe6ab93bcfae4/tumblr_mldr77gyTv1qjunugo1_500.png)
Welcome to our second ever issue of Drink Damages, where we calculate the cost of imbibing at some of New York’s most important restaurants. This week, we take a look at Perry St. by Jean-Georges Vongerichten, the subject of my two star review for Bloomberg News.
The Real Cost of drinking by the glass at Perry St. starts at $38 for one or $77 for two. That’s based on our Triple Tipple Metric, which adds up the price, plus tax and tip, of the restaurant’s cheapest sparkling wine (Segura Viudas Brut Cava, $10), white wine (Wamakersvallei Chenin Blanc, $10) and red wine (Crios Malbec, $10). Your meal will probably be 3 courses and will last anywhere from 90 minutes to 2 hours.
Are these prices affordable by NYC standards? You bet. Drinking at Perry St is 30% cheaper than at, say, Carbone, where by-the-glass imbibing starts at $111 for two. Keep in mind that Perry St. advertises half-pours (#RESPECT), so if you want to drink less than three full glasses, you can spend a bit less as well.
Actual Phone Conversation From Last Week
RECEPTIONIST: Thank you for calling [redacted] how may I assist you?
SUTTON: Good afternoon, would you be so kind as to let me know what the price might be for the wine pairing on the extended tasting menu offered on Fridays and Saturdays?
RECEPTIONIST: Is this Ryan Sutton?
SUTTON: That's pretty good voice recognition.
RECEPTIONIST: Nah, it's just that you're the only person who would ask a question like that.
