This restaurant, built in 1938 by Sweet and Shaw was located at 7th Ave and W. 49th St. I can’t find much information on Sweet & Shaw, other than a reference in a 1939 magazine currently on ebay, called “Pencil Points- modern restaurant design”.
Another location was also designed by Sweet and Shaw located at 1485 Broadway, near 42nd st.
“After passing a red and gold bar with a horizontally curved surface, on entered a red, black and gold dining room in which one side and one end of the room were “striving for a greater repose and quietness of of effect, to compensate for the garish liveliness elsewhere”. – Hamlin, “Some Restaurants and Recent Shops”: 485
it pops up at about 0:20 of this video: http://www.youtube.com/watch?feature=player_embedded&v=WgqRN40TXrE#!