NYC is very expensive, but it is also the kind of place where that rent can be made on a Saturday service. We'll have to wait and see what happens with that old oven
Brooklyn and Manhattan are two very different markets with regards to food.
That said, I agree. If you have the backing of media, and volume, a $275k/yr rent for a hole can work with enough volume and a liquor license.
Net net, you're getting about the same as the 4 man shop in Kearny, NJ running a million dollar biz and keeping most of it but the dream when you're younger is to be a celebrity in the capital of the world.