I don't see why it doesn't "match" as you say. If someone wants to splurge on accommodations but watch what is spent on food, who are we to judge?

Are you looking to eat before the performance? If so, I think it would be a better idea to eat near the theatre. If that's the case, please tell us where the theatre is and we can make recommendations from there.

I think your best bet for restaurants near the Waldorf is probably on or near 2nd Ave. On 2nd Ave by 50th St is Sip Sak which is a Turkish restaurant my husband and I adore. If you just order an entree and maybe one drink, you should be able to eat let's say under $25. You can easily cut back your food expenses at breakfast and lunch to allow for more wiggle room at dinner. There is a prix fix option at Les Sans Coulottes on 2nd Ave and 57th St. It is about $22 but includes huge appetizer (wursts, veggies, pates, fruit), an entree and dessert. I think it's a great deal but it does go over your $20 limit. There are plenty of coffee shops in the area (Morning Star on 2nd Ave and 50th) which you can certainly eat for under $20/person. I'm a fan of coffee shops and that one works.

As for getting home from theatre, why don't the 6 of you split 2 cabs? Also, from the theatre, if you want to take public transportation anyway, take the 50th Street bus (the M50 or M27) across town instead of the subway and get off at Park Ave. Yet even with all of that, if it's a nice night, I agree with the others who suggested walking. That's what we do and we live further east than the Waldorf.