Two Upper East Side Eateries Battle Over Real Estate

By Ben Fractenberg on March 21, 2011 11:31am 

The building housing Upper East Side Italian restaurant Serafina was recently bought by rival restaurant Nello.
The building housing Upper East Side Italian restaurant Serafina was recently bought by rival restaurant Nello.
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Thos Robinson/Getty Images

By Ben Fractenberg

DNAinfo Reporter/Producer

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.


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