As Sydney slowly reboots after lockdown slumber, a mounting number of restaurants have decided to call it a day, including one of the most ambitious and upmarket eateries on Woolloomooloo Wharf.

With its splashy $350 Italian caviar on oysters and $170 wood-fired lobster, The Amalfi Way fronted on the showy waterside strip with the sort of luxe items and price tags you might expect on a holiday in Positano.

The restaurant was a big step up for its operator Luigi Esposito, who has long been rated among Sydney's best pizzaioli at his Via Napoli empire.

If opening during a pandemic wasn't challenge enough, The Amalfi Way wedged itself next to high-end Italian Otto Ristorante and seafood specialist Manta.

Tough turf, a challenge that hasn't stopped another restaurant stepping up in the space. Il Pontile opened in the former Amalfi Way digs on the weekend, with a familiar face in its kitchen.

Mario Percuoco, the Naples-born chef who previously operated Acqua Pazza in the city and had a spell cooking in Avalon, is the chef at Il Pontile.

The Graaf Group-backed restaurant has given the wharfside space another makeover, with a "glass cellar", chandeliers and a VIP dining room.