Tim Ho Wan, The world's cheapest Michelin starred restaurant, is set to open officially in New York City in January 2017.

The Hong Kong institution, which is famous for its affordable dim sum, is already on its soft opening on 85 Fourth Avenue, nr. 10th St., where crowds gathered in the cold just tp get ahold of the famous dumplings. The grand opening is on January 18, 2017. This will be the Chinese restaurant chain's 45th location worldwide.

Some of the chain's most sought-after menu items are the dim sum, rice rolls, steamed shrimp dumplings, barbecue pork buns, and turnip cakes. Lonely Planet reported that there will be items that are unique to the New York branch, such as French toast with custard and vegetable spring rolls. All items on the menu costs no higher than $5.50

Originating in Hong Kong, the restaurant was opened by Mak Kwai-pui, who was a chef in Lung King Heen, a three Michelin star restaurant. He opened Tim Ho Wan--then a 20-seater--which eventually earned its first star in 2010.

"We've decided to bring our dim sum to the East Village because of its diversity, energetic environment, and accessibility-qualities that we want to reflect in our New York and first U.S. location," Kwai Pui said in a statement. "Tim Ho Wan's fast-paced atmosphere is the perfect match for the city that never sleeps," added Leung Fai Keung.

Right now, the restaurant has limited hours. Lunch is from 10am to 3pm, and dinner is from 5pm to 10pm. Starting January 18, however,  it will be open from 10am to 10pm (Sunday to Thursday), and until 11pm (Friday and Saturday).

"The quality has to be good, then we will slowly open more," said chef Mak Kwai Pui, one of the founders of Tim Ho Wan. "No rush."