P.F Chang’s is a relative newcomer to Manhattan. Having only opened their first outpost in Manhattan last year, the popular Chinese bistro currently operates four other outposts across the city as a delivery-only express restaurant. Now in the new post-pandemic era, it appears that PF Chang’s is resuming their old operation and is preparing to open their first full-service restaurant in Manhattan at 113 University Place.
P.F. Chang’s was founded in 1993 by restaurateurs Phillip Chiang and Paul Fleming. The first multi-unit restaurant concept in the U.S to celebrate the time-honored tradition of wok cooking as the center of the guest experience, P.F Chang’s quickly exploded in popularity thanks to its delicious hand-rolled dim sum and made-from-scratch sauces. Now operating over 210 restaurants in the US, P.F. Chang’s is one of America’s premiere Asian restaurant concept chains.
Until two years ago, P.F. Chang’s was owned by Centerbridge Partners. In 2019, John Paulson of Paulson and Co. and TriArtisan Capital struck a deal with Centerbridge to acquire P.F Chang’s. P.F. Chang’s CEO Jim Bell said of the deal that, “Paulson and TriArtisan bring financial strength and expertise that will allow us to grow our dine-in and off-premises channels both domestically and internationally.” The recent deal preceded P.F. Chang’s expansion into the on-the-go market, reflecting Paulson’s vision of driving the business forward in a new direction.
As part of this new growth strategy, Manhattan’s first full-service P.F. Chang’s will be replacing Vapiano at 113 University Place. Founded in 2002 in Germany, Vapiano was a unique Italian restaurant concepts that served hand-crafted pasta made-to-order. The restaurant was known for its wide windows that allowed guests to observe the pasta-making process while they waited. Vapiano sadly closed during the pandemic and the space has remained vacant since.
Thankfully, P.F. Chang’s acquisition of the space is a healthy sign for the neighborhood. Featuring over 4,777 square feet of space across three floors, the new location is spacious and airy, capable of seating up to 154 people at one time. While the team still has a lot of work ahead of them to fill the space with P.F. Chang’s signature style, locals and students alike are eagerly awaiting the launch.
