Two Upper East Side Eateries Battle Over Real Estate
By Ben Fractenberg
UPPER EAST SIDE — Call it a food fight on the Upper East Side.
Investors in the posh Madison Avenue restaurant Nello brokered a $21 million deal to buy the building that houses their rival, Serafina Fabulous Grill, the New York Post reported Monday.
Serafina reportedly had already worked out a $19.5 million deal to buy the building at 29 East 61st Street when Nello offered more money in a secret deal, the paper said.
The investors now plan to tear down the building to put in a less-expensive Nello and possibly a high-rise hotel, sources told the Post.
But Serafina’s owners also had a trick up their sleeve, reportedly buying the building next door at 27 East 61 Street for $8 million after finding out about the Nello deal.
"We will stay on East 61st Street forever!" Serafina co-owner Fabio Granato told the Post.