Yes, the on dit is that their rent is very high.
However, they have the same view as Waterfront. The food is way cheaper; breakfast is wondair. It's the old Arte Sano (sp?) crowd that used to be in the little bowtie park in front of Banco Popular. Lots of Italians, who know from breakfast. Great coffee, fabu pastries, much friendlier service than Waterfront. I've not visited for lunch, but I know that Giovanni, who used to cook at Margot, is in the kitchen for dinner. He was the one who gave Margot a bit of an international/sometimes Indian twist. They are still working out some cocktail hour/dinner svc issues.
I do freely admit that I have a close friendship with his wife, Isabella, who has been helping at the bar. They are a really wonderful couple, hard-working, honest, friendly, and beautiful to look at. The food is much less expensive than Waterfront. Fewer mosquitoes. Giovanni, if you remember his work at Margot, is a very talented cook.
Not to take anything away from Waterfront, where I also have pals, but Waterfront, over the years, has been wildly inconsistent and very expensive.
I'm really rooting for Steven's or ArteSano, or whatever it's called, to make it. If you get there early enough in the morning, you pretty much always get a rainbow, too!