A mixed-use redevelopment project is planned to create a new restaurant and luxury rental units on Fifth Avenue South in downtown Naples.  

The proposal would demolish the single-story building at 472 Fifth Ave. S., between the Del Mar and Osteria Tulia restaurants, and replace it with a three-story structure that would have a ground-floor restaurant and two floors of high-end residences, said property owner Stefano Frittella, who plans to launch his sixth restaurant in downtown Naples with this project. Frittella already has ownership of Bice Ristorante, Caffé Milano, La Trattoria, Vergina and The Bevy.  

Frittella’s new restaurant would replace La Pescheria, the seafood restaurant owned by Andrea and Francesca Neri. When the Neris signed the original lease five years ago with Frittella for that coveted streetside dining space that formerly was La Bazenne, they knew it wouldn’t last forever.  

“We knew when we signed it was a limited time,” said Francesca Neri, noting that they recently signed a lease extension for one more year.   

The Neris, who also operate Molto Trattoria and Café Neri on Fifth Avenue South, hope to eventually relocate their La Pescheria concept to another space on Fifth. “We looked for other places on Fifth Avenue and we couldn’t find anything,” Francesca Neri said.  

Frittella’s proposed restaurant – Avenue 31 – would share the name and the modern Mediterranean concept of a fine-dining restaurant he owns in Monte Carlo, Monaco. “The menu proposes a variety of starters, main courses and desserts of the Mediterranean cuisine revisited with a touch of modernity,” according to the website for Avenue 31 Monte Carlo.  

Frittella also has a version of Caffé Milano in Monte Carlo, as well as another Italian restaurant named La Saliere in Monaco, in addition to other Florida restaurants in the Miami Beach area.  

Also in that Fifth Avenue building constructed in the late 1950s, Belle Arte Galleria is next to the adjacent Osteria Tulia. Just west of La Pescheria’s yellow awning is a vacated real estate office adjacent to Del Mar restaurant.   

The proposed mixed-use redevelopment project consists of a restaurant with indoor and outdoor seating, a lobby and four transient lodging units – two each on the second and third floors with private balconies and parking, city plans show.  

“This is a great property in the middle of the street. It’s going to be extremely high-end, four super apartments,” Frittella said. “This is going to be a building that is Monte Carlo-style – super elegant.”  

Frittella originally planned to build a hotel at that location but the city shot down his proposal in 2021. The original proposal had 16 transient units, while the new plan condensed those to four units, two fronting Fifth Avenue and two to the south on the alley side of the building.