Launching a new restaurant in Hauppauge

They've known each other for about 10 years, and they all have experience in the restaurant and financial industries. But is this the time to open a fine-dining eatery in the middle of Long Island?

Nick Boccio, formerly of Manhattan-based 13th Street Entertainment, Christian Arcello, owner of Georgica East Hampton, Michael Murphy, a broker with Prudential Douglas Elliman Commercial and a former sports-bar owner, and Michael Wainstein, a principal of Private Capital Group, a Manhattan merchant bank, are betting just under a multimillion-dollar price tag that it is.

Venue 56 opened recently on Wheeler Road in Hauppauge, in the heart of Long Island's commercial district. Arcello describes the restaurant as "fine casual," serving "new American"-style food. An average dinner, with wine? $60. Pricey to some in  recessionary times.

Murphy said the group hopes Venue 56 becomes "a destination" spot.

"We want to be that place that the middle of the Island has not experienced yet," Murphy said. As the evening wears on, Murphy said, the music changes, becomes a bit louder, more upbeat, for a younger crowd than the older professionals who might drop in after work at the Hauppauge Industrial Park.

The partners hired Marc Anthony Bynum, former executive chef of Teller's Chop House in Islip, as top toque.

"When you do a business like this, you know if you're missing the market within three months," said Boccio. "The next three months you need to fine-tune the things you're missing, and hopefully after six months the train is on the track."