The Observer has learned that executive chef Gary Volkov recently signed a lease at a 2,000-square-foot space at 26 Prince Street. The broker on the deal, Brett Nidel of Veracity Real Estate Management, would not disclose what the new owner would be paying in rent, but he did note that Mr. Volkov was getting a “really good deal because he is taking over an existing lease.” Rents in the Soho neighborhood are usually in the $200-per-square-foot range, according to a broker who does business in the area.

Mr. Volkov is a veteran of the New York restaurant scene. He got his start at Sunburst, his family’s restaurant in Gramercy Park and then honed his skills at Danny Meyer’s Eleven Madison Park. In 2005, he became the executive sous chef at One If By Land, and this April, he ascended to the executive chef position at the West Village restaurant.

Mr. Volkov’s as-of-yet titled restaurant will fill the space formerly occupied by Panino Sportivo. Mr. Nidel told The Observer that they are currently “building out” the interior, and hope to open in the next few months.