What will be the fate of the building that was home to beloved Libby's Lunch?
PATERSON — The Libby’s Lunch building — where generations of North Jersey residents feasted on Texas Weiner deep-fried hot dogs — is being sold at a public auction.
The city government, which owns the property at the Great Falls, is in the process of hiring a real estate firm to conduct the auction later this year.
What could come next?
Libby’s closed in July 2020, after more than 80 years in business. Mayor Andre Sayegh is hoping that whoever buys the property will open a restaurant there, or even “a boutique hotel.”
“The focus is on food,” Sayegh said. “Right now, the only option in that area is the Burger King,” he added, citing the fast-food restaurant on Spruce Street.
Paterson’s economic development director, Michael Powell, said his office has been getting two or three calls per week from restaurant companies and investors since Libby’s shut down.
“You’re right on the river,” Powell said. “You could do a dock thing. That would be cool.”
Powell said Paterson waited until work finished on the reconstruction of the Spruce Street bridge, which runs next to Libby’s, before moving ahead with the auction.
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What's the property worth?
The property at 98 McBride Ave. is about six-tenths of an acre and is assessed at $525,000. The land had been owned by the Paterson Municipal Utilities Authority. But the city took ownership about seven years ago after the utilities authority was dissolved.
The City Council is scheduled to vote on a resolution hiring the auction company this week. Powell said he expects the auction to happen in August or September.
Joe Malinconico is editor of Paterson Press. Email: editor@patersonpress.com
This article originally appeared on NorthJersey.com: Libby's Lunch building in Paterson NJ will be auctioned
