[1] Established in 1447 and having operated under several different names, the restaurant is located on Fleischmarkt 11 near the Holy Trinity Greek Orthodox Church.
[2] The restaurant derives its name from the Levantine merchants, who lived in the vicinity of the building, and the intensive trade relations between Vienna and the Orient since the time of the Babenberger period.
Around 1500, the building later to become part of (and named for) the Greek quarter was called "Zum gelben Adler" ("At (the sign of) the Yellow Eagle").
Nearer the present the Griechenbeisl remained in business under the name "Zum Goldenen Engel" (at the (sign of the) Golden Angel) (1762) or "Reichenberger Beisl".
Historically important is the year 1852 when the host Leopold Schmied decided to bring the completely new "Pilsner Urquell" from Pilsen in Bohemia to Vienna for the first time.