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In late February, Boca Chica, the inexpensive Latin American restaurant on First Avenue at First Street, closed its doors, though perhaps only temporarily. As first reported by Serena Solomon at DNAinfo, two partners abruptly exited the business, and the remaining owner was "frantically searching for new partners." The remaining partner was hopeful to continue operations.
Apparently that won't happen here. Paperwork on file (PDF) ahead of Monday's CB3/SLA meeting show that a bar-restaurant called Golden Cadillac is in the works for the space.

There's extensive background about the proprietors at the CB3 website. Francis Derby, who was part of the opening team of wd~50 under Chef Wylie Dufresne and a one-time sous chef at Momofuku Ssam Bar, is listed as the executive chef.
Giuseppe Gonzalez, a veteran of Dutch Kills and PKNY/Painkiller, is listed as "head barman." James Tune, general manager of Pegu in Soho, is listed as the general manager.
The paperwork includes a sample menu...

... and renderings...

This isn't the first time that we've heard about Golden Cadillac. Time Out reported in November 2011 that the new venture from the above-mentioned folks was opening on East 13th Street between Avenue A and First Avenue. But that never materialized, for whatever reasons.
At that time, Gonzalez described the look this way: "Remember that bar called Volpe's in 'Mean Streets'? That's the way Golden Cadillac's going to look — an old Italian social club, but with tons of Art Deco details."
Boca Chica opened in March 1989. As predicted, the high-scale evolution of this corridor continues.
Previously.