Restaurants Clamor for Space in New York

Demand for restaurant space in New York City has rarely been greater than it is now, helping power the city's retail real-estate recovery.

Space for quick-service, casual restaurants like Chipotle Mexican Grill and Cava, cozy pizza joints or cavernous 10,000 square-foot steakhouses are all disappearing fast, said Lee Block, president of real-estate firm RTL.

The amount of available space is so tight that more restaurant tenants are willing to splurge on the steep costs -- often around $100,000 -- to convert other types of retail...

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