Covet Closes, The Latest Miami Failure In New York

It's not only Baotique that is down for the count. Word spread over Twitter and an inside source confirms that Covet, the Midtown nightlife space that hosted Baotique, is also out of business. The project had trouble generating any real traction probably due to its location, and is another failure for Miami nightlife kingpin Eric Milon, the man who attempted to bring a his mega dance club Mansion to New York, a project that flopped from day one. It also follows the recent ouster of the Quattro restaurant team at the Trump Soho hotel, where a tipster tells us that the restaurant allegedly fell short of its $30 million revenue projections by $16 million dollars.

So what is it about Miami restaurants and nightclubs that make them so unsuccessful in New York City? Perhaps it's the same reason that so many Los Angeles projects never seem to take off in New York, in that they seem to focus more on the concept and rely on their reputation to get by instead of delivering a quality product that will actually get New York excited, a recipe for failure that probably doomed Mansion, Quattro, Table 8 and the rest of them from the start.
· Covet Coverage [~ENY~]
· Nightlife Coverage [~ENY~]