Smith & Wollensky
An American high-end steakhouse brand founded in New York in 1977 and known for dry-aged USDA Prime beef, classic hospitality, and distinctive green-and-white restaurants.
Last updated October 14, 2026
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Overview
Smith & Wollensky is a high-end American steakhouse brand established in New York City in 1977 by restaurateur Alan Stillman and chef-restaurateur Ben Benson. The original restaurant opened in a distinctive stand-alone building at the corner of 49th Street and Third Avenue in Midtown Manhattan. Its name was deliberately invented: Stillman selected the surnames “Smith” and “Wollensky” from a Manhattan telephone directory, and later said that the first names used in opening announcements belonged to his dogs rather than to real restaurant founders. The site had previously been occupied by Manny Wolf’s Steakhouse, which operated there from 1897 until 1977, and the new restaurant retained much of the building’s lettering and visual character while adding the brand’s recognizable green-and-white color scheme. The brand built its reputation around traditional American steakhouse dining rather than a fast-casual or highly experimental restaurant model. Its core offer centers on USDA Prime steaks that are butchered, hand-carved, and dry-aged on the premises. Menus vary somewhat by location, but commonly combine steaks with seafood, salads, side dishes, desserts, cocktails, wine, and other classic steakhouse fare. The New York restaurant also contains Wollensky’s Grill, a more informal bar-oriented room that operates later than the main dining room. The company has presented its in-house dry-aging and carving process as a defining point of difference and has added selected American Wagyu cuts alongside its USDA Prime program. Smith & Wollensky expanded beyond its first New York restaurant into a multi-location restaurant group. Major United States locations have included Chicago, Miami Beach, Las Vegas, Boston-area sites, and other Massachusetts restaurants. The Chicago restaurant overlooks the Chicago River and became associated with the redevelopment and restaurant activity of the River North area. The Miami Beach restaurant occupies a waterfront setting with views toward downtown Miami and the Port of Miami. The Las Vegas operation moved to a smaller venue inside the Grand Canal Shoppes at The Venetian in 2019. In Massachusetts, restaurants have operated in Wellesley and Burlington, while the original Boston site, housed in the historic Armory of the First Corps of Cadets, closed in 2018. The company began international expansion with London in 2015, followed by Taipei in 2019. The Taipei restaurant occupies the 47th floor of Taipei Nan Shan Plaza. A second Taiwan restaurant opened in Taichung in 2024, and the brand also operates in Seoul, where its Hannam-dong restaurant includes a large bespoke dry-aging facility. The wider international estate has included locations in the Philippines and other markets, although individual restaurants and operating arrangements can change over time. Smith & Wollensky has also acquired cultural visibility through film appearances and high-profile events. The New York restaurant appeared in American Psycho and The Devil Wears Prada, while the Chicago location appeared in The Break-Up. The New York dining room hosted charity “Power Lunch with Warren Buffett” auctions in 2007 and 2008, generating substantial public attention. In 1997, New York Times restaurant critic Ruth Reichl described the restaurant as “a steakhouse to end all arguments,” helping reinforce its position as an emblematic American steakhouse. The brand was taken public in 2001 after an expansion plan announced in the late 1990s. The offering raised capital for additional restaurants, but the company’s shares struggled to remain above the initial offering price. In 2007, Smith & Wollensky Restaurant Group was acquired by Nick Valenti and Joachim Splichal, together with Bunker Hill Capital, following competing approaches from Landry’s and the Patina Restaurant Group. Danu Partners acquired the group from Bunker Hill Capital in 2016. The New York restaurant remained separately owned by Alan Stillman, although it continued to share promotional and marketing activity with the broader brand. Today, Smith & Wollensky occupies the premium end of the steakhouse sector, combining legacy New York identity, American beef expertise, dry-aging, destination dining, and international licensing or operating partnerships.
History
Smith & Wollensky began in 1977 when Alan Stillman and Ben Benson opened a steakhouse in Midtown Manhattan. Stillman was already associated with the creation of T.G.I. Friday’s, while Benson brought experience as a chef and restaurateur. The founders selected the brand name from two surnames found randomly in the Manhattan telephone directory. The restaurant occupied a former Manny Wolf’s Steakhouse building, and the founders preserved much of the existing exterior character while introducing the green-and-white identity that became strongly associated with Smith & Wollensky. From the beginning, the restaurant pursued a classic American steakhouse format: substantial beef portions, formal but approachable hospitality, a broad wine and spirits program, and a dining room designed for business meals, celebrations, and other high-value occasions. The brand’s operating model emphasized the handling of beef as part of the restaurant’s identity. Steaks were selected, butchered, dry-aged, and carved for service, with USDA Prime beef forming the foundation of the menu. The business later supplemented this program with American Wagyu offerings and maintained location-specific menus rather than imposing one completely uniform national menu. The New York restaurant became a recognizable cultural location. It appeared in the films American Psycho and The Devil Wears Prada, and its association with Manhattan business dining was reinforced by its use as the venue for high-profile Warren Buffett charity lunch auctions in 2007 and 2008. In 1997, New York Times critic Ruth Reichl gave the restaurant an especially memorable endorsement by calling it a “steakhouse to end all arguments.” The restaurant also developed Wollensky’s Grill, a later-opening bar and dining room with a more relaxed atmosphere. Expansion followed through restaurants in Chicago, Miami Beach, Las Vegas, and Massachusetts. The Chicago site, located by the Chicago River near the Loop, became part of the restaurant environment of River North. The Miami Beach restaurant used its waterfront setting and outdoor patio as part of the guest experience. The former Boston restaurant operated in a nineteenth-century armory building and was the only Smith & Wollensky location identified as being listed on the National Register of Historic Places. That Boston location closed in 2018. The Las Vegas restaurant later moved to a smaller venue at The Venetian, reopening there in 2019. A Burlington, Massachusetts restaurant opened in 2023. The company’s corporate history included a move into public markets. In 1999, Alan Stillman announced plans to use an initial public offering to support a program of opening at least three restaurants a year in the United States. The IPO took place in 2001 at $8.50 per share and raised $45 million. Although the capital supported expansion and sales growth, the stock fell on its first day and did not consistently trade above the initial offering price. In 2007, Landry’s made an unsolicited offer, while a group associated with Patina Restaurant Group and Bunker Hill Capital ultimately completed the acquisition. Danu Partners acquired the restaurant group from Bunker Hill Capital in March 2016. Stillman retained ownership of the New York restaurant, creating a structure in which the flagship and the broader restaurant group were connected through marketing and promotion but were not identical ownership entities. International development began with London in June 2015, the brand’s first restaurant outside the United States. The London site opened in the Adelphi Building near the Strand. Smith & Wollensky then entered Asia with Taipei in 2019, opening on the 47th floor of Taipei Nan Shan Plaza. A second Taiwanese restaurant opened in Taichung in June 2024. The brand has also operated in Seoul’s Hannam-dong district, where the restaurant includes a large custom dry-aging facility, and has had a presence in the Philippines. The present-day brand is best understood as a multi-market premium steakhouse rather than a mass-market restaurant chain. Its competitive proposition rests on the heritage of the New York flagship, American beef sourcing, in-house dry-aging and carving, classic hospitality, prominent real-estate settings, and a menu architecture that can be adapted to local markets while retaining the core steakhouse identity.
- 2024
Second Taiwan restaurant opens in Taichung
[1]The brand opens a Taichung restaurant in the city’s Time Square CBD building.
- 2023
Burlington, Massachusetts restaurant opens
[1]A third Massachusetts-area location opens in Burlington.
- 2019
Taipei restaurant opens
[1]The brand’s first Asian restaurant opens on the 47th floor of Taipei Nan Shan Plaza.
- 2018
Original Boston restaurant closes
[1]The Smith & Wollensky location in the historic Armory of the First Corps of Cadets closes in May.
- 2016
Danu Partners acquisition
[1]Danu Partners acquires the restaurant group from Bunker Hill Capital.
- 2015
First international restaurant opens in London
[1]The brand enters the United Kingdom with a restaurant in London’s Adelphi Building near the Strand.
- 2007
Acquisition by Valenti, Splichal, and Bunker Hill Capital
[1]The restaurant group is acquired after competing interest from Landry’s and a Patina-linked buyer group.
- 2001
Initial public offering
[1]The company completes an IPO priced at $8.50 per share and raises $45 million.
- 1999
Expansion IPO announced
[1]Alan Stillman announces plans for a public offering intended to finance a faster national restaurant-opening program.
- 1997
New York Times recognition
[1]Restaurant critic Ruth Reichl describes Smith & Wollensky as a “steakhouse to end all arguments.”
Products and positioning
Premium American steakhouse hospitality centered on in-house dry-aging, hand-carved USDA Prime beef, traditional service, and destination dining.
Steakhouse entrées · 1977
USDA Prime dry-aged steaks
The central product line consists of USDA Prime beef selected for steakhouse service and dry-aged in-house. Cuts are butchered and hand-carved, making the preparation process part of the brand’s dining proposition rather than merely a back-of-house operation.
Premium beef
American Wagyu
Selected American Wagyu cuts complement the core USDA Prime range. They provide a richer, more premium alternative for guests seeking a different beef profile while remaining within the brand’s American steakhouse positioning.
Restaurant menu · 1977
Seafood and classic accompaniments
Location menus generally broaden the steakhouse offer with seafood, salads, appetizers, vegetables, potatoes, sauces, desserts, and other traditional accompaniments. Menu details vary by restaurant and market.
Casual dining and bar concept
Wollensky’s Grill
Located within the New York restaurant, Wollensky’s Grill offers a more bar-oriented atmosphere and food selection than the main dining room and remains open later, extending the flagship’s appeal beyond formal steakhouse meals.
Marketing campaigns
- 2008Power Lunch with Warren Buffett charity auction
United States
A second high-profile Warren Buffett charity lunch auction was held at the New York Smith & Wollensky.
Outcome. The auction generated further publicity for the restaurant’s role as a prominent business-dining venue.
- 2007Power Lunch with Warren Buffett charity auction
United States
The New York restaurant hosted a charity auction meal marketed as a “Power Lunch with Warren Buffett,” giving the flagship visibility as a venue for high-profile business dining.
Outcome. The event attracted substantial attention and positioned the restaurant within the culture of elite New York business lunches.
Brand decisions
2015
Begin international expansionStrategyBackground
After establishing a multi-city United States presence, the brand sought to extend its American steakhouse format into overseas destination markets.
Action taken
Smith & Wollensky opened its first restaurant outside the United States in London.
Aftermath
The London opening was followed by expansion into Taiwan, South Korea, and the Philippines.
2007
Accept a private acquisitionM&ABackground
The public company faced competing acquisition interest, including an unsolicited proposal from Landry’s and a higher proposal associated with Patina Restaurant Group.
Action taken
Nick Valenti and Joachim Splichal, with Bunker Hill Capital, acquired the Smith & Wollensky Restaurant Group.
Aftermath
The transaction returned the broader restaurant group to private ownership and separated its corporate ownership from the New York flagship retained by Alan Stillman.
- Landry’s — Landry’s made an unsolicited offer of $7.50 per share.
2001
Use an IPO to accelerate national expansionStrategyBackground
Management sought capital to support a plan to open at least three Smith & Wollensky restaurants annually across the United States.
Action taken
The company completed a public offering at $8.50 per share and raised $45 million.
Aftermath
The capital supported expansion and sales growth, but the stock fell 8.6 percent on its first day and remained below the offering price for much of its public-market history.
IPO proceeds and offering price. $45 million raised at $8.50 per share (2001 IPO)
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