This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Freshest Fish Traded In The Dead Of The NYC Night

By VERENA DOBNIK

NEW YORK (AP) â¿¿ Think Wall Street trading is brutal? Head up to the grittiest part of the South Bronx, where cutthroat deals are made in the dead of night on a massive concrete floor that reeks of fish guts.

The New Fulton Fish Market is the nation's largest seafood market, and second in the world to Tokyo's. Here, in a refrigerated building the size of six football fields, fishmongers are frenetically filleting, selling and packaging seafood â¿¿ 200 million pounds a year worth close to $1 billion by some estimates. It is headed for restaurant tables, stores and mouths across America.

Glistening under the fluorescent lights is just about every sea creature. Most come in by truck, but about half are flown in from the ends of the Earth: Arctic char from Iceland; mahi-mahi from Ecuador; hamachi from Japan; branzino from Greece; salmon from Scotland; cockles from New Zealand.

Experienced buyers negotiate prices in seconds, judging quality on a look, a touch, a smell and often a raw taste.

"You know right away if fish is fresh. It's like looking into a woman's eyes â¿¿ you know what's there," says Roberto Nunez, a 44-year-old Peruvian immigrant who started out as a dishwasher and has been the buyer for more than a decade for celebrity restaurateurs Lidia Bastianich, her son, Joe Bastianich, and their partner, Mario Batali.

Five nights a week, Nunez shows up at 1 a.m. to purchase as much as $15,000 worth of seafood, enough to meet the demands of 10 restaurants. What's available on any given night depends on a variety of often unpredictable factors, such as severe weather that keeps fishing fleets in port or a spotty catch in an overfished ocean.

"This is not like ordering tomatoes or potatoes," Nunez says. "Seafood is wild."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,055.87 -116.81 -0.68%
S&P 500 1,982.77 -11.52 -0.58%
NASDAQ 4,508.6880 -19.0010 -0.42%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs