Saigon 48 might well be the only Theatre District restaurant with entrées priced below $7—what’s more, no less than 70 items on its extensive menu cost less than $10. But Saigon 48 is noteworthy for reasons other than price.

Although the number of Vietnamese restaurants is deservedly increasing all over the city, Saigon 48 is the only one I’ve come across right in the heart of Theatreland on West 48th Street. Nor should its modest prices cause you to think it must be a modest, little greasy spoon of a place. Quite the contrary: it’s a sleek, sophisticated spot.

Saigon 48—which opened in late March and is owned by the same people who operate the acclaimed L’annam restaurants downtown—is long and narrow with large, square, multi-colored ceiling lighting, mirrors, bamboo, and banquettes. Interior lighted sheer fabric panels hang from the ceiling and a pink/red lighted panel lines the restaurant just above the banquettes.

Just as travelers to Vietnam notice the culinary influences of nearby nations on its cuisine, the vast menu here reflects them as well. China is Vietnam’s dominant neighbor, and Chinese food lovers will find many, perhaps most, of Saigon 48’s dishes to be familiar and pleasing. But Thailand is well represented as well, and there are Indian, Indonesian, and even Japanese touches here (we drank sake throughout the meal, and it meshed nicely with every dish).

When ordering at Saigon, think soup. And Vietnam’s most popular and
important soup is Pho (pronounced like something between fir and fur). What clam chowder is to New England and chili is to Texas, this hearty oxtail brew is to Vietnam. And it’s more than just a soup. Its various incarnations inspire fervid, passionate advocates. The broad-shouldered version here—with its large, thin shards of beef, abundant rice noodles, handful of bean sprouts, basil, hoisin dipping sauce, and rich broth—is excellent. So, too, is a similar Saigon-style noodle soup with a slightly sweet, citrus-tinged broth.

Two recommended starters are the crisp, crunchy Vietnamese spring rolls cut into bite-sized finger food and almost translucent steamed rice crepes stuffed with minced chicken, shrimp and vegetables.

Main courses to remember included sautéed Saigon noodles with shrimp reminiscent of lo mein, a lightly curried mix of okra, eggplant, onions, and bell peppers accompanied by homemade pancakes, and a mild Vietnamese shrimp with a little dose of beer in a white sauce.

There’s no need to skimp in anticipation of calorie-loaded desserts. They’re confined to ice creams. A flavor-filled mango scoop was especially satisfying.

234 W. 48th St. btw. Broadway & Eighth Ave., 212-247-8669

Richard J. Scholem is a former contributor of restaurant reviews for the Long Island Section of The New York Times.