Butter is a well-known New York City restaurant located at 70 W 45th Street (Midtown Manhattan). It is an American bistro-style restaurant famous for seasonal, market-driven dishes and signature items like butter-poached seafood and house preparations that showcase Executive Chef Alex Guarnaschelli. Butter traces its roots back to an earlier Lafayette Street location and later opened the Midtown space that many diners now associate with the name.
Ownership Status of Butter
Butter is best described as a chef-led, privately held restaurant. The public face and operating chef is Alexandra (Alex) Guarnaschelli, who serves as Executive Chef and is widely credited with steering Butter’s menu and reputation. The restaurant originally began under different ownership on Lafayette Street (where nightlife owners Richie Akiva and Scott Sartiano were involved), and later the Midtown incarnation became closely associated with Guarnaschelli’s leadership and brand. Because Butter is a privately owned restaurant (not a publicly traded company), ownership details such as exact equity percentages are not published in regular public filings.
Major Owners / Stakeholders (what public records and reporting say)
| Shareholder / Entity | Ownership / Role | Notes |
|---|---|---|
| Alexandra (Alex) Guarnaschelli | Owner / Executive Chef (chef-led operator) | Identified as the restaurant’s executive chef and the primary culinary figure behind Butter’s brand and menu. |
| Original Lafayette Owners (The Butter Group / Richie Akiva & Scott Sartiano) | Prior owners / founders of the original location | The original Butter on Lafayette was linked to nightlife/hospitality owners Richie Akiva and Scott Sartiano and The Butter Group portfolio; that original location later closed and Butter’s identity moved to the Midtown site. |
Note: Because Butter is privately held, third-party reporting and the restaurant’s own site are the main public sources for ownership and leadership information. There are no public SEC-style filings for this type of restaurant to give precise share percentages.
About Alexandra (Alex) Guarnaschelli
Alexandra (Alex) Guarnaschelli is a highly respected American chef, restaurateur, and television personality best known for her role as the Executive Chef and culinary face of Butter Restaurant in New York City. Born in New York, she trained at the Institute of Culinary Education and later refined her skills in some of Europe’s most prestigious kitchens, including Guy Savoy’s restaurant in Paris. Over the years, Guarnaschelli has built a strong reputation for modern American cuisine rooted in classical French techniques. Beyond the restaurant world, she is widely recognized for her appearances on Food Network, serving as a judge and competitor on shows such as Chopped, Iron Chef America, and Supermarket Stakeout. Her professional credibility and consistent presence in fine dining and media have made her one of the most influential chefs in the U.S. hospitality industry.
Alexandra (Alex) Guarnaschelli Net Worth
As of the most recent publicly available estimates, Alexandra (Alex) Guarnaschelli’s net worth is reported to be in the range of $2 million to $3 million. Her income primarily comes from multiple sources, including her role at Butter Restaurant, television contracts with Food Network, cookbook sales, brand collaborations, and public appearances. While Guarnaschelli does not publicly disclose her financial details, her long-standing television career and executive chef position at a prominent New York restaurant contribute significantly to her overall earnings. Since Butter is a privately held restaurant, her exact ownership stake and restaurant-specific income are not publicly documented, making net worth figures approximate rather than exact.
Key Shareholder Highlights
- Alex Guarnaschelli — A Food Network star and well-known chef, Guarnaschelli is positioned as Butter’s executive chef and chef-owner figure. Her name and reputation are strongly associated with the restaurant’s identity and menu development. This is the primary, up-to-date public representation of leadership at Butter.
- Richie Akiva & Scott Sartiano / The Butter Group — They were involved with Butter’s original Lafayette Street location and broader nightlife/hospitality ventures; reporting shows the venue originally played a different role in NYC nightlife before Butter’s Midtown presence became the flagship tied to Guarnaschelli.
Recent Developments in Ownership
- Midtown relaunch / expansion: Butter’s Midtown location opened in November 2013, marking a relocation/expansion of the Butter brand and tying the restaurant more publicly to Alex Guarnaschelli’s culinary leadership. That Midtown venue is the active location referenced on Butter’s official site.
- Brand continuity, private ownership: There have been no public announcements of a sale or new public investor group for Butter. Coverage and the restaurant’s own messaging continue to present it as Guarnaschelli’s chef-led establishment. If an investor change or formal sale were to occur, it would typically be reported in trade outlets; none of the major hospitality or business reporters show a recent transfer of ownership for Butter as of the latest reporting.
FAQs
1. Who is the current owner of Butter?
Publicly available information identifies Alexandra (Alex) Guarnaschelli as Butter’s executive chef and the primary chef-owner figure associated with the restaurant’s current Midtown location. The original Lafayette Street location had different hospitality owners (Richie Akiva and Scott Sartiano).
2. Is Butter publicly traded or privately owned?
Butter is privately owned (a standalone restaurant business), not listed on any stock exchange. There are no public shareholder filings for the restaurant.
3. Who founded Butter and when?
Butter originally began in the early 2000s (the brand dates back to about 2002 for the Lafayette Street venture); the Midtown site opened in 2013 under the chef-led concept tied to Alex Guarnaschelli.
4. Has the ownership changed recently?
As of the latest public reporting, there has been no confirmed sale or major public ownership change. The restaurant remains associated publicly with Alex Guarnaschelli and its Midtown operation. If you need the absolute latest status, I can re-check trade coverage and filings (local business registries) for any fresh developments.
Butter is a privately held, chef-led New York City restaurant most closely associated with Alex Guarnaschelli (Executive Chef and public face of the restaurant). The brand began in the early 2000s on Lafayette Street (with owners linked to The Butter Group and nightlife operators), and later the Midtown location — the current active site — became Guarnaschelli’s flagship project in 2013. Because Butter is privately owned, exact ownership percentages are not publicly disclosed; public reporting and the restaurant’s own materials are the best sources for ownership and leadership information.