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s naïve children – vaguely aware of the notion's impossibility - we dream of one day living in majestic palaces. As adults, we dream of living in palaces fully aware of the notion's impossibility. And now that the recession is in full effect, we don't even get to dream. But, worry not melancholic reader, the previous statement will remain true only until Friday, June 5 – the day that Palace Gate bar and lounge draws open its courtly courtyard to the indulgence-starved public.

With the marked downfall of the Plaza Hotel's Oak Room, poor New Yorkers are bereft of palatial surroundings to have a cocktail. But with the opening of Palace Gate, Manhattan apartment dwellers will be greeted not only with the old-world elegance of the Villard mansion, but also with the prospect of open air.

Through the wrought iron gates of the imperial hotel's grounds, sits a terrace worthy of Catherine the Great or an Aristocrat in a Henry James novel. Upon a palazzo, in front of a turn of the century mansion sits you, gazing at the stars and feeling inadequate. What is more, your inadequacy will increase tenfold when you realize that not only are you gazing in wonder at the stars above you, but you are about to order off a menu built by the hotel's two-star Michelin team.

Although Palace Gate's surroundings are fit for a queen, do not anticipate a stuffy and outdated menu (ala Queen Elizabeth). Rather, the New York lounge's array of small plates is quite stylized and modern, occasionally even throwing in a surprising twist or two. The suckling pig tacos - with queso fresco, salsa roja and radish - are a 'fresco' take on the tired nacho recipe. While, the Gilt burger – adorned with aged cheddar, house-made pickles, crispy onion rings, and house cured bacon – by no means shakes up the list. Cynicism aside, in these times – where a fancy burger has become nearly an obligatory choice on a menu – the ground beef sandwich is both necessary and welcome. For the post-dinner crowd, the dessert list is quite titillating: chilled Tuscan melon soup with tarragon sorbet and honey funnel Cake, young Peccorino cheesecake coated with apricot glaze and cracker crunch and the selection of artisanal cheese plates are among the most coveted items.