
Papaya King was forced to close its original location after the building's landlord sold it to developers in 2021 for $21 million. The iconic hot dog stand had been a mainstay for generations of New Yorkers and visitors passing by since it first opened in 1932.

Papaya King originally opened in 1932 on the corner of 86th Street and Third Avenue in the Upper East Side of Manhattan1. It was founded by Constantine "Gus" Poulos and initially served only tropical fruit drinks before expanding to hot dogs due to the influence of its predominantly German-American neighborhood1.

The old Papaya King building was sold for $21 million in 2021 to Extell Development, a company known for building luxury apartments6.