Papaya King's iconic former Upper East Side location to become luxury condos

UPPER EAST SIDE - The former site of Papaya King's flagship store on the Upper East Side is set to become the site of a 17-story luxury residential building.

For nearly a century, the location on 86th Street and 3rd Avenue was a quintessential part of New York City, where visitors could grab a hot dog and a smoothie for a friendly price.

But, developer ZD Jasper confirmed recently that the legendary storefront will be knocked down and turned into luxury condos, to the disappointment of UES residents.

"Not another residential building," one UES resident told FOX 5 NY. "Honestly, we have enough."

"I think the city has enough skyscrapers and buildings to build something like that," another said.

Experts tell FOX 5 NY that this may just be a sign of the times, as mom-and-pop stores like Papaya King simply cannot afford rent in New York City.

"A mom and pop retailer is typically not the type of tenant that can afford a location like that," said Victor Rodriguez, Senior Director of Analytics for CoStar Group. "You’re really looking like a high-end designer or a major grocer like Whole Foods or Trader Joe’s."

Another Papaya King location was supposed to be built across the street earlier this year, but plans suddenly fell through, reportedly after Papaya King's owners got into a dispute with the landlord of the new location over kitchen infrastructure.

Now, the landlord is suing Papaya King, leaving NYC without the beloved frankfurters and smoothies.