The Ivy in a nutshell: superb food and service. The old location on Ocean was more romantic, especially the patio, but it's not horrible. However, the price point is stupid, similar in offensiveness to Mr. Chow in Beverly Hills. Portions are very good, but there's no way that you'd call this place a good value. At the end of the day, you're paying a huge premium to eat with other well-heeled (or highly-leveraged) patrons. The best drink is the gimlet.
Pros: great food and service
Cons: Pricey?? You bet it is. Lousy value
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