Famed New York City restaurant Tavern on the Green has reopened after a more than four-year closure. The long-loved institution opened for dinner service Thursday evening.
The Victorian Gothic structure was originally constructed in 1870 as a sheepfold for the flock that grazed in Sheep Meadow. It became a restaurant under the oversight of parks commissioner Robert Moses in 1934. After a $10 million renovation, restaurateur Warner LeRoy reopened the space in 1976. It was the highest grossing restaurant in the U.S. from the 80s through the 2000s.
Tavern was hit hard by the financial downturn of 2008, causing it to file for bankruptcy only two years after it produced gross revenues of $38 million in 2007.
The contract for the restaurant in now held by Philadelphia restaurateurs Jim Caiola and David Salama of Emerald Green Group. Aside from a restaurant and bar, there is also an onsite gift shop and a take-out window with bike racks.
This time around, the rehabilitation was twice the cost, at $20 million. A spokesman for Mayor Bill de Blassio stated that while there was some concern about the cost, the mayor is sure it will be a major city asset. The city will collect a $38 million concession fee over the course of the 20 year lease or a percentage of annual sales, whichever is higher.
Find out more about the current restaurant here.
Read the original articles here and here.