Famed chef Jean-Georges Vongrichten’s new Park Avenue restaurant has become the epicenter of a new, post-pandemic phenomenon for Wall Street’s movers and shakers: the power hour, Side Dish has learned.
As soon as the closing bell rings, traders, investors and C-suite executives flock to Four Twenty Five, which opened last December at 425 Park Ave., the Norman Foster-designed skyscraper that counts hedge fund giant Citadel as its main tenant.
They come not only for the $25 cocktails and bar food that includes $68 egg toast with caviar, but also for the all-important face time needed to make a deal – before racing off to catch their trains.
While many of the city’s power brokers decamp to their summer homes in the Hamptons, or fly off to Greek islands or the Italian Riviera, the power hour was in full swing during a recent visit by Side Dish.
There wasn’t an empty seat at the bar by 5 p.m and the lounge was also full. Male and female executives in summer suits relaxed while sipping those $25 olive oil-washed martinis or $19 raspberry lychee bellinis.
Finance geeks with backpacks slung over their shoulders noshed on bar food that includes slightly cheaper fare like tuna tartare with avocado for $16, and sea urchin and black bread crostini for $28.
“I come once a week around 4:30 to 5:30 to meet clients and friends,” one investor said in between bites of his tuna tartare.
“In the world of finance, those two are one and the same. It’s a people business. You need to spend time together to get deals done.”
Another well-dressed barfly said he comes in three times a week for the power hour.
“It’s a convenient time to meet,” the trader said. “People want a drink and a snack in a beautiful room before heading home or going back to the office.”
Younger workers in their mid-to-late twenties, many from Citadel, sauntered in around 6 pm, wearing dress pants and no jackets, let alone ties and geek out about the craft cocktail menu.
They order drinks like Old Fashioneds, and the Naked and Famous (mezcal, Aperol, Yellow Chartreuse and lime) though they switch out the gin for mezcal.
Similar power hours have popped up at Chef Daniel Boulud’s Le Pavillon at One Vanderbilt by Grand Central, at the Monkey Bar uptown and the Bar Room at the Beekman Hotel downtown, in FiDi. More junior traders tend to head to less pricey spots like Papillon Bistro & Bar on East 54th Street
At all of the hotspots, socializing has become a kind of mission in and of itself after the pandemic lockdowns emptied out office buildings.
“After so many years of being locked up in confined spaces, people want to be out,” one 34-year-old investor said. “People are finally making investments in the city again, and ready to turn a new leaf after COVID.”
As I interviewed another finance exec at Four Twenty Five, we were interrupted by someone coming over to say hello to him.
“This is a perfect example. That guy is in the Hamptons for the summer. He’s here for the day for some meetings, and stopped in for a drink before heading out,” the executive said.
They made plans to meet — at Le Pavillon at 4:30 — the following week.
At Le Pavillon, regulars include Peter Bazeli, principal and managing director of the real estate development advisory firm Weitzman, who hits the power hour three or four times a week before catching his 6:02 p.m. train home to Pelham, Westchester County.
“I host clients and business contacts at Le Pav because it’s convenient for everyone, and the service and setting are exceptional. They treat me well, they treat my clients and guests well, and then everyone can catch the train so easily,” he said, adding that some colleagues come in from the suburbs and country homes just to meet for a 4:30 cocktail, “and then we all go home.”
Others, like top real estate broker Jenny Lenz, 34, pop into Four Twenty Five at around 5 p.m. for a glass of Sancerre, and might stay for dinner with clients, especially after showing them properties on nearby Billionaires’ Row.
“It’s a beautiful space and we always love Jean-Georges’ food. We’d follow him anywhere,” she said.
We hear…While New York eateries poured into Miami during the pandemic, the move was rarely reciprocal.
Now Pura Vida Miami, the all-day cafe and wellness brand, is coming to Manhattan.
The restaurant will debut in a 2,500 square-foot spot, including 75 outdoor seats, in Nomad this Friday, at 1151 Broadway.
Founded in 2012 by husband and wife team Omer and Jennifer Horev, Pura Vida Miami will import its popular dishes, like the perfect egg sandwich, Jen’s herb salad, and a spicy tuna bowl, along with New York exclusive items, like charred fruit toast, and a smoked salmon breakfast sandwich on sourdough.
More New York City locations are slated to open this fall, including a 4,089 square-foot spot at 25 Kent Ave. in Williamsburg, and a 3,500 square-foot space they hope to open in December at 65 Bleecker in Greenwich Village.
Three additional New York locations are planned for 2025. Pura Vida recently opened on Fisher Island, the nation’s most expensive Zip code — and is the only outside F&B operator on the tony island. It is also slated to open in Malibu, Calif., this fall.
The couple are also “testing” a new ice cream concept called Dolce Vida in Coconut Grove. Pura Vida Miami now has more than 1,000 employees — and 63% of them are women — at 24 locations in 15 cities, with 25 additional locations under lease.
The plan is to have up to 50 locations by the end of 2025, the couple tells Side Dish.
We hear…that Vintage Green, the newest and largest rooftop from IGC Hospitality (Refinery, Royalton Park Avenue and Glass Ceiling rooftops) opens July 24 at the Shelburne Sonesta Hotel in Murray Hill. The 11,000-square-foot space pays homage to city parks.
Sylvana Levy, of Sleep No More, will also be curating live performances that will range from artists to jugglers, musicians and ob the wrap-around terrace overlooking city skyline views.
The menu ranges from classic hot dogs, to oysters and caviar service from Chef Chris D’Ambrosio, formerly of Bouley.
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