When Drew Nieporent opened his New York City restaurant Montrachet, the prix fixe menu cost $16.
To be fair, this was 1985 — adjust for inflation and the bill would be closer to $50 — but there’s no denying that restaurants have become significantly more expensive over the past few years.
This is especially true in the world of fine dining, where some tasting menus now cost $1,000 for a dinner for two. What could once be the entire bill of a three-course meal might now get you the $45 foie gras supplement.
“The prices have gotten out of hand,” Nieporent told Business Insider while discussing his new memoir, “I’m Not Trying To Be Difficult: Stories from the Restaurant Trenches.”
Nieporent, who opened 40 restaurants in 40 years, including Nobu and Tribeca Grill, now has a rule when it comes to eating out — no meal can cost more than his $750 New York Jets ticket.
“That’s what I judge everything by,” Nieporent said. “I’ll spend $500 on a meal at Noma. It’s less than what I pay for my Jets tickets.”
“Masa in New York is $950 per person,” he added, referring to the restaurant’s sushi counter tasting. “Masa is amazing. I’ve been there, but I will not spend that kind of money. I just can’t justify it.”
Fine-dining restaurants across the US have continued to struggle in the aftermath of the COVID-19 pandemic, which led to higher supply costs, labor shortages, and fewer reservations.
Still, the rise in menu prices at some high-end establishments has been quick and steep. Eater reported in 2023 that a handful of NYC fine-dining restaurants — including Masa and Eleven Madison Park — raised their menu prices by $100 or more per person in the span of 12 to 18 months.
Nieporent told Business Insider that he’s shocked by how much restaurants are charging nowadays, especially compared to when he first got into the business.
“The dirtiest little secret was that the wealthy people in the ’60s, ’70s, and the ’80s were eating at these great French restaurants for nothing,” he said. “They were drinking wine for nothing. Now, everything costs a fortune.”
Montrachet, which closed in 2006, was among those French restaurants. The Tribeca spot held onto three stars from The New York Times for 19 years.
“My success as a restaurateur is making the diner experience more accessible,” said Nieporent, a partner of Nobu New York City, Nobu Fifty Seven, and Nobu London.
Nieporent knows there will always be people willing to pay big bucks for a tasting menu. He’ll just be saving his priciest nights for MetLife.
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