Friday, April 09, 2010

Exchange Bar & Grill opening

Exchange Bar & Grill celebrated its opening with a media event hosted at the brand new restaurant in the Gramercy area of Manhattan. Party-goers were offered an open bar and a sampling of their hottest menu items including hot wings, calamari, mozzarella sticks, burgers and the signature ‘Exchange’ salad.

What is the new concept of this new, sports bar? Well, believe it or not, prices of food and drink fluctuate based on demand on Exchange’s own in-house ‘stock market’. Prices are broadcast on a giant ticker screen that runs the 35-foot length of the bar, posting which items are running below (-) or above (+) market price. If everyone is drinking Guinness, the price of Guinness is going to go up—but consequently, all of Guinness’ competitors (like Killian’s) will go down. If everybody is drink Californian Chardonnay, the price of Californian Chardonnay will go up but that of other countries will fall. The opening bell rings at 8pm after Happy Hour prices come to a close, and if you play your cards right, you may just end up at the bar during an impromptu ‘Market Crash’—where drinks temporarily drop to $2 for all beers, $3 for all well drinks, and $4 for top shelf, after which point, the market resets itself.  The bar’s unique concept is the brainchild of friends and co-owners Damon Bae (a former stock trader turned real estate mogul) and Levent Cakar (an economist with 11 years+ in the restaurant industry).

The lounge-like space features both a bar and full dinner menu, with special lunch & brunch menus expected to be introduced at a later date. In the meantime: Happy drinking!

Exchange Bar & Grill,  256 Third Avenue btw 20th & 21st Street