Hot new afterwork spot, Exchange Bar & Grill celebrated its opening with a media event hosted at the restaurant’s location in Gramercy.
The buzzing bar, which is a great combination of Sports Bar and Wall Street bravado offered open bar and a sampling of their tastiest menu items such as hot wings, calamari, mozzarella sticks, burgers and their signature ‘Exchange’ salad to a select few.
The bar is modeled after the Stock Excahnge (hence the name); customers are asked to take a gamble on prices of food and drinks. The prices fluctuate based on demand ( just like the stock market) on Exchange’s own in-house “stock market” Ticker.
“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.” For example (if you don’t quite understand how the stock market goes) “if everyone is drinking Guinness, the price of Guinness is going to go up but consequently, all of Guinness’s competitors (like Killian’s) will go down. 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.”
You can also utilize the ticker to flirt with possible dates, why not buy someone a drink at the end of the bar or say hello or just send compliments, birthday wishes, etc – you can do it all from the safety of your seat.
Created by friends and co-owners (see above) Damon Bae, a former stock trader turned real estate mogul and Levent Cakar, an economist with 11 years+ in the restaurant industry, Exchange is a new and fun way to enjoy an afterwork experience. Says Cakar, “When you think about it, it’s a really smart way to run a restaurant. If an item isn’t selling, it becomes really cheap and then we’re able to move the product. It also keeps the hot ticket items from selling out and draws attention to cheaper products. It’s all about supply and demand—and it’s an organic way to manage our inventory.”
The lounge-like space features both a bar and full dinner menu, with special lunch and brunch menus expected to be introduced at a later date. Exchange Bar & Grill is located at 256 Third Avenue between 20th & 21st Sts and is easily accessible by either the 6 train to 23rd St and walk to Third Ave or hop on the M23 Bus anywhere along 23rd St.