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Nearing the end of its multimillion-dollar renovation, Grand Central Terminal has so far been unable to attract tenants for four of its five proposed restaurant sites.
High-profile restaurants are a major element of the Metropolitan Transportation Authority's plan to turn the hectic train station into a mecca for shopping and fine dining.
Several veteran restaurateurs have passed on the terminal, saying they were skeptical that the station will draw enough evening diners. Some were turned off by the rents being asked by the MTA, said to run anywhere from $70 to $300 per square foot. Others didn't care for the station's "open-air" seating, which allows patrons to overlook the hustle and bustle of the terminal while eating.
Michael "Buzzy" O'Keeffe, Nick Valenti and Michael Weinstein are just a few of the well-known New York restaurateurs who have rejected the project, which is slated to be completed next year.
"It just didn't make economic sense," says Mr. O'Keeffe, who operated the popular Cafe at Grand Central in...