NYC caps food truck permits at 5,100 creating a $25K black market

New York City has capped the number of Mobile Food Vending Permits at 5,100 for decades, creating a waitlist of over 10,000 applicants — some waiting since 2007. The official permit costs $200, but because the waitlist is effectively closed, a thriving black market has emerged where permit holders illegally sublease their permits for $15,000 to $25,000. This means aspiring food truck operators — often immigrants with limited capital — must pay 125x the legal price just to enter the market. The result is that the most motivated, talented cooks are priced out, while permit holders who stopped vending years ago collect passive rent. This persists because the city caps supply to protect brick-and-mortar restaurant lobbying interests, and enforcement against illegal subleasing is nearly nonexistent since the transfer is disguised as a cart sale with attached permit renewal.