Another sure shot: Joe Flaherty's 1974 Esquire piece on Toots Shor:

But to talk of Shor, one must understand a simple fact: a good part of life is the gesture or the front one puts up. Only deadbeats and punks weep about life’s slings and arrows; stand-up guys take it on the chin and order another round, even if they have to put it on the tab. Shor himself was a flat-pocket import from Philadelphia who rose to millionaire status when, in 1958, he sold his fabled spot at Fifty-one West Fifty-first Street to the Zeckendorf real-estate interests for one million, five. But today, his pockets are as close to his ass as the day he blew Philly. His downfall was building his new saloon at Thirty-three West Fifty-second, the site of the old Leon and Eddie’s (where, in his early days, he served as a bouncer) and now Jimmy’s, political drinking trough of former Lindsay aides Dick Aurelio and Sid Davidoff.

Shor took great pride in building his joints from the ground up. He didn’t like taking over someone else’s failed saloon and redecorating it to his taste. The ghosts of someone else’s boozers haunting one of his places would be an unspeakable social breach. Toot’s grounds had to be new and hallowed. After all, you couldn’t 86 some other creep’s ghosts. And besides, he did have a good track record, since the Fifty-first Street place had been a success. But the one-block jump and a few decades’ distance proved a disaster.

His mistakes were many. Adhering to a bygone calendar, he miscalculated the cost of everything from construction to the prices he would have to charge for food and drinks just to keep the place operating. In the Forties he paid off his Fifty-first Street saloon in a year and a half, charging $1.40 for roast beef, with drinks at fifty and sixty cents. Now hooch cost more per shot than the roast beef of decades ago, and steaks were pulling down $7.50. He estimated the construction cost at three million, seven; but according to The Herald Tribune financial page, the actual cost ended up at $7,500,000.

Moreover, when one looks back at the failure of the new Toots Shor’s, it was touchingly human. Shor is not unlike Lear in old age—unable to accept that men can control everything but time. This is hardly a sin, just a pathetic need in all of us to cocoon ourselves between the parentheses of dates. The old Garden on Fiftieth Street was gone, and the new Garden was downtown on Thirty-second Street. No longer could one saunter over to Toots’s, one had to cab it. And when one was forced to wheels, other options opened: Gallagher’s 33, the bars located in the new Garden itself, or the Lion’s Head in the Village.