Philippe Sells Gansevoort Space to LA Sushi Hot Spot Koi

As was reported back in June, Philippe has sold its Gansevoort location to LA sushi hot spot Koi, which is expected to open before the end of the summer. Philippe, meanwhile, will reopen in the Taverna Opa space South of Fifth, with hopes of capitalizing on some of that Prime 112 traffic. “We’re excited to make the move,” says Stratis Morfogen, CEO of Philippe Chow Restaurant Group. “The timing couldn’t have been better. A lucrative real estate opportunity for Taverna Opa was presented to us, and 24 hours later, we received a call from Jay Luchs of CBR Richard Ellis, who represents Philippe in L.A., saying that Koi was interested in the Gansevoort location. We felt that the real estate buy of Taverna Opa would be the better long-term investment for Philippe, as we plan on serving Miami for many years to come.”

And they're not stopping in Miami. Philippe by Philippe Chow is opening on August 24 in Boca Raton at 200 East Palmetto Park Road, former location of III Forks. There, prices will be 30 to 35 percent lower than the Miami and New York locations, and will feature after-work and Happy Hour specials, including a $29 Three-Course Dinner for Two available from 4 to 6 p.m., Sunday – Thursday. Complimentary valet parking will also be available. [EaterWire]
Is Philippe Moving North and South? [EM]
Philippe on Eater Miami