Chasing Rainbows

This is how it goes in New York these days. You discover a great old restaurant or shop, and soon after you learn it's going out of business or is up for sale.

I only laid eyes on the Rainbow Cafe in Sunset Park last winter. Last June, it shuttered after its owner passed away. Now Brownstoner reports that it's on the block. It's listed for a cool $3.25 mil, and the broker handling the property offered this choice piece of crappy advice, "Ideal for Large Retail Chain, Bank, Fitness Center, Fast Food."

Yeah, would also make a nice site for a new crematorium for unscrupulous real estate brokers.