Red Lobster's Flagship Times Square Restaurant Is Closing After 23 Years
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Red Lobster's Flagship Times Square Restaurant Is Closing After 23 Years
The Times Square Red Lobster at 5 Times Square will close on June 14, ending a 23-year presence at 41st Street and Seventh Avenue. The flagship opened in 2003 and functioned as a tourist attraction in central NYC. The company cited extensive, prolonged construction that reduced access, visibility, and foot traffic, and said continued operation was no longer viable given the building’s planned conversion to residential use. Staff are being offered transfers to any Red Lobster plus additional pay for the transition. In 2024, building owners sought $2.2 million in annual rent, and more than 100 locations have shut down as the chain reduces costs.
#restaurant-closures #times-square #commercial-real-estate #cost-reduction #new-york-city
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