Tucked into a 37-seat storefront on Roosevelt Row, Pretty Penny has quietly become one of downtown Phoenix's most talked-about dining destinations, serving globally inspired small plates and inventive cocktails out of a space its own co-owner once built by hand. The restaurant pairs an octopus tostada with black sesame salsa macha alongside paccheri lamb ragu and branzino in beurre blanc, and it now shares its building with a hidden speakeasy that most passersby would never notice.
Pretty Penny is a new neighborhood restaurant located at Roosevelt Row in downtown Phoenix, offering cocktails and small plates, according to azcentral.com and The Arizona Republic. The restaurant's roots go back to 2024, when Pour Bastards Hospitality co-founders Sam Olguin and Brenon Stuart teamed up with chef Marcelino “Mars” Ramos and hospitality director Ivan Herrera, both alumni of Scottsdale's Virtù restaurant group, to launch the concept, according to A Taste of AZ. Ramos and Herrera had previously run Carvão Catering together before joining forces on Pretty Penny, the outlet notes.
From Induction Burners to a Custom-Built Dining Room
Pretty Penny didn't start out as the polished space diners see today. It first opened in January 2024 as a snug storefront with a small open kitchen before relocating in December 2024 to its current 509 E. Roosevelt St. address, taking over the former location of Disco Dragon, as detailed by Phoenix New Times. PHOENIX magazine's reporting traces that growth further, noting that co-owner Sam Olguin originally cooked food using $80 induction burners before building out the current space himself.
Olguin hand-built the interior of the 37-seat dining room, installing custom walnut banquettes, LED strip lights, orange pendant lamps, and a wrapping chef's bar, per the same magazine's account. The design was tailored specifically to maximize the restricted space of the small dining room, the outlet reports.
A Hidden Bar Sharing the Same Roof
Inside the same building, the team also created Legends Never Die, a hidden, 20-seat walk-in cocktail lounge that opened in April 2024, according to Phoenix New Times. Its cocktail approach is modernist, and its design draws on Brutalist inspiration. The lounge offers another cocktail setting under the same roof.
Hospitality Director Ivan Herrera is credited with the restaurant's signature welcome: guests who book a reservation are greeted with retro personalized place cards and a complimentary pour of prosecco, according to PHX Rail Food. The outlet notes the hospitality team emphasizes an informal, house-guest style welcoming experience rather than a standard restaurant greeting.
Menu Built Around a Signature Tostada
Executive Chef Marcelino Ramos keeps his menu to a single page, focused on internationally inspired small plates. Signature items include the octopus tostada with black sesame salsa macha, paccheri lamb ragu, branzino in beurre blanc, and daily specials such as caviar served at cost, the same report notes. The octopus tostada has remained a permanent staple on an otherwise rotating seasonal menu since the restaurant opened.
That combination of technique-driven food and cocktail pedigree has translated into recognition. Phoenix New Times named Pretty Penny its Best New Restaurant of 2024, while F.Y.P.M. was among the top 10 finalists for Best New U.S. Cocktail Bar at the Tales of the Cocktail Spirited Awards, according to the publication's own best-of coverage. Pretty Penny's award arrived shortly after opening, reflecting acclaim for combining culinary technique with elevated cocktail service.
A Michelin Nod
Pretty Penny has been described as a Michelin-recommended restaurant. The restaurant serves globally inspired small plates and inventive cocktails.
Pretty Penny's founders are connected with Pour Bastards Hospitality, which is linked to Roosevelt Row venues including Killer Whale Sex Club and F.Y.P.M. Co-founders Sam Olguin and Brenon Stuart built their brand on technique-driven cocktail bars before expanding into full food service, the group notes.
The restaurant sits five blocks east of the Roosevelt/Central Light Rail station, anchoring the eastern corridor of Roosevelt Row.
