Riptide, a bar and seafood restaurant in Baltimore’s Fells Point neighborhood, announced it will close Wednesday after six years in business.

“It has been the hardest decision because we have loved being a part of the Fells Point Community and partying with you all for the last 6 years,” the owners wrote in a post on Facebook.

The news came just days after the closure of nearby Bondhouse Kitchen, which shuttered Sunday after four years in business. Earlier this month, beloved Upper Fells taqueria Cocina Luchadoras also closed its doors, citing the rising cost of doing business. Baja Tap also recently closed on Bond Street.

The area has also been riddled with vacancies at some prime locations near the water, including the former Bertha’s Mussels, Duck Duck Goose, Osteria Pirata and Denzel’s Shark Bar.

“I’ve never seen numbers like this,” said Erica Russo, owner of The Point on Thames Street, of the recent shutdowns. While some restaurateurs have said crime — and a negative perception of Baltimore — is to blame, Russo thinks a bigger reason is the high cost of doing business.

“Cost of products are really high, Baltimore City rent and taxes are astronomical. Even small things like utilities have tripled. How do we pass that on to guests without being an overpriced restaurant?” she said. “My BGE bill has tripled since COVID.”

At nearby Max’s Taphouse, owner Ron Furman said, “COVID never ended for us.” Many regulars who stopped by his bar for lunch or after a day at the office pre-pandemic are still working from home and rarely stopping in for a pint. That’s contributed to hardships for his own business, and a rise in vacancies around him: He’s counted 11 empty storefronts just on the blocks surrounding his pub on South Broadway.

Some in the suburbs do think of Baltimore as dangerous, Furman said, but that goes against reality. Fells Point actually feels safer to him than it did a few years ago, and police have done an effective job at curbing crime. He hopes that customers will come down to see for themselves.