Cronuts and macaroons may now rule the treats here in New York, but once upon a time, the cupcake was king. Leading the way was Magnolia Bakery, which first started whipping up cupcakes from leftover batter at its Bleecker Street store in the 1990s, sparking the mania. Two decades on, even though the cupcake craze may be crumbling, Magnolia seems to be …

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