About two months ago, Chinese born Steven Chin, a 34-year-old systems analyst at Bear Stearns with a pretty good career ahead of him at the securities firm, scrapped his Wall Street job after seven years to join the swelling ranks of city restaurateurs. His game plan: to open an Asian fusion eatery in the city in conjunction with a trio of lifelong friends from Hong Kong, all with experience in the restaurant business – brothers Simon and Ming Wan and their sister, Sandy.

What makes it so intriguing is that the budding entrepreneur is betting his future on a dining craze that’s already sweeping the Big Apple – the explosion in Asian fusion restaurants (which combine foods inspired from such countries as Japan, Malaysia, Thailand, Vietnam, and China in a French presentation and all under one roof).

The new restaurant, Fusia, which made its debut April 2 at East 56th Street between Lexington and Third avenues, has a bevy of rivals in the area, with roughly 20 other Asian restaurants within a 15-block radius.

No one keeps a scorecard on just how many Asian fusion dining establishments dot the New York City landscape, but some food industry sources suggest the figure is fast approaching about 1,000 (including large and small restaurants, as well as takeouts). “We don’t know how many of them are out there, but we know they’re growing like mad,” noted a spokesman for the New York Restaurant Association. And from a Zagat spokeswoman: “The way they’re springing up, it looks like a new one is opening every half-hour on the hour.”

Despite swelling diner interest in Asian fusion food, making it won’t be a snap for Fusia. Aside from fierce competition, there’s a stiff $17,000 monthly rental for the restaurant, which is open seven days a week, seats 72 and has about 12 employees. Further, the last two tenants in the location, 677 Lexington Ave., a children’s clothing store and a Chinese takeout, both failed

Mr. Chin nonetheless thinks the four partners – who anted up about $500,000 to get the business off the ground – have a good shot at success. “Competition only makes you better,” he said. He also believes that the restaurant’s concept – offering of a variety of Asian foods, rather than just one country’s cuisine – greatly enhances Fusia’s appeal. “Some friends tell me I’m crazy, but in life you’ve got to take a shot,” he said.

So far, Fusia – whose average check runs $8 for lunch and $25 for dinner – is off to a rousing start, attracting 150 to 200 customers a day, he tells me. Takeout accounts for about a third of sales. The restaurant’s revenue goal: $150,000-$200,000 a month.

That Asian fusion food is still on the ascendancy in the city can be attested to by a group of Asian investors who struck gold with such a restaurant venture, to the point where they’ve recently opened a second such restaurant. The first one, called Aja, a fancy, upscale place, opened in April 2004 in the resurgent Sutton Place area at 58th Street and First Avenue. Opened at a cost of $1 million, it contains a huge Buddha surrounded by lighting that changes colors, a stone interior, and koi fish swimming under a glass floor that can be walked on. One featured dish is Kobe steak ($40), which you cook on a hot stone. Interestingly, when Aja opened, there were three other Asian restaurants located between 58th and 59th Streets on First Avenue. Think that’s crowded? Think again. There are now five of them, three of which are Asian fusion.

Aja, which seats about 75 and has become a hot spot, had set a first-year sales goal of $1 million. But that goal, says general manager Kevin Wang, has been exceeded, with first-year sales topping $1.5 million. That performance is what prompted Aja’s owners to open its second Asian fusion restaurant, Amber, early last month at 80th Street and Third Avenue. Its construction costs also ran $1 million. Also managed by Mr. Wang, its wine list offers some high priced champagnes, such as Cristal at $250 and Dom Perignon at $185.

Meanwhile, Asian fusion restaurants are not only catching on with New York adults, but with their kids, as well, suggesting this business is by no means an overnight fad. Take Harrison Maidman, the 8-year-old son of real estate developer Mitchel Maidman, president of Maidman & Company. He eats at them about three or four times a month. “I like it, it’s very different, and some of it,” he said, “is very healthy.” His favorite dishes: flat Malaysian noodles and broccoli tempura.

Meanwhile, the hot fusion trend is already transcending restaurants. Georg Jensen is just out with an ad calling on shoppers to “create your own fusion.” In this context, it’s fusing expensive jewelry, offering such items as a three piece ring set with brilliant cut diamonds for $4,650, a white gold set of earrings with diamonds for $3,200, and a pendant set in white gold with diamonds for $2,600. Harrison isn’t ready for that yet.