It's a moot point whether or not 1 Hang Manh has the best bun cha in Hanoi, but it has certainly solidified it's reputation as THE Hanoi Bun Cha Institution.
I have eaten bun cha all over the city in the past decade. You can get it just about anywhere, from pop-up street stalls to upscale restaurants. What sets 1 Hang Manh apart is both wonderful and disappointing, depending on your perspective.
The bun cha and nem are wonderful, yup! It's surprisingly expensive compared to other street fare, but by Western standards $5 for a huge helping of bun chan, nem and a beer is still a great bargain (it's not clear whether there's still a locals' price and a foreigners' price). Service is undeniably surly. Absolutely no smiles from these ladies. It's part of the charm, I suppose. And it's a typical street stall restaurant, to the eye & nose, filthy. But no more unhygienic than a 5-star hotel buffet. It is almost always crazy crowded and often lousy with tourists. And bloody hell, only Saigon beer. No Bia Hanoi and no Halida.
So if it's your first visit to the city, eat here at least once, check the box, then go bun cha exploring.
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