Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
Food
Economy Takes Its Toll On City's Overpriced Burgers
By
Jaya Saxena
Published Oct 4, 2010
Modified Oct 4, 2010
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jaya Saxena
Published Oct 4, 2010
Modified Oct 4, 2010
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
The gourmet burger trend has come full swing in the city, peaking with that $175 burger at Wall Street Burger Shoppe a few years back, and possibly ending with a return to no-frills burgers at Shake Shack. The Post took a look at one victim in the burger boom-and-bust, Old Homestead Steakhouse, who were recently forced to reduce the price of their $41 Kobe beef burger to $19. That $81 burger seems nowhere to be found.
The steakhouse introduced the burger in the more plentiful times of 2003. Co-owner Marc Sherry said, “We were selling about 100 a day. The more expensive it was, the more people wanted it. Wall Street guys ordered it as an appetizer and sent a car service to come pick up the burgers." But then, tragedy struck. “It’s the reverse of 2003,” said Sherry. “The economy tanked and now people want a cheap burger and they order it ‘to go’ so they don’t have to pay a tip."
Sherry says they're turning lemons into, um, burgers and are "starting a reverse price war" with their $19 deal. Sorry, guys, but considering a Shack Stack and a shake is $14, and a deluxe burger with cheese, bacon, mushrooms, tomato and lettuce is $12.95 at Paul's, you may have already lost the battle. Are you willing to drop the extra cash on Kobe beef, or should they leave that for the steaks and let a burger be a burger?
Tagged
burger
economy
old homestead steakhouse
overpriced burger
Jaya Saxena
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE food
10 dishes that demonstrate the delicious diversity of curry in New York City
The global dish is shapeshifting and ubiquitous.
By
Robert Sietsema
Published Sep 12, 2026
Frozen yogurt is back in New York City. So are the super long lines.
Is it worth the high price and ridiculous wait? Gothamist needed to find out.
By
Sonia Rao
Food
Frozen yogurt is back in New York City. So are the super long lines.
Is it worth the high price and ridiculous wait? Gothamist needed to find out.
By
Sonia Rao
5 NYC banana puddings as good as Magnolia's
By
Hannah Frishberg
Where to eat in Greenpoint, Brooklyn right now, from Polish to Sichuan to Iberian
By
Robert Sietsema
Can a congressional candidate's dumpling diplomacy win over Queens’ immigrant communities?
By
Caroline Shin
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .