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Wage Hikes, Rents Closes Top Restaurant

Annisa, a famed restaurant in Manhattan’s West Village, will close May 27 after nearly 17 years in business. Owner Anita Lo says rising rents, fees and wages strangled her restaurant.

“We do the numbers, and they don’t work anymore,” Lo told Crain’s New York Business. The minimum wage in New York City is rising towards $15 an hour. Property taxes are also rising in step with property prices. New restaurants continue to open, and the number of restaurant licenses active in the City has held steady — but restauranteurs like Lo say they face challenges.

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