Greek restaurant Taverna Opa of South Beach will close August 1 to make way for Phillipe Chow, which recently closed at the Gansevoort South Hotel, the South Florida Business Journal reported.
Taverna Opa will be relocating to Mary Brikell Village, the younger population of which will be better suited to the restaurant, broker Tom Prakas, who represented both sides of the deal said.
Taverna Opa had not struggled at the location, Prakas said, “but, as [the area] south of Fifth [Street] became high end, the lower price points and value attraction at Opa diminished.”
An affiliate of Credit Suisse seized the Gansevoort after Gansevoort Hotel Group defaulted on its $89 million mezzanine loan. [SFBJ]