Cup & Saucer Signage Removed Ahead of Rumored Grand Street Reboot
For the first time in decades, the marquee at 89 Canal Street is without its Cup & Saucer branding. Two-thirds of the restaurant’s signage was removed earlier this week – the paneling from both the Canal and Eldridge Street exposures. The swinging Coca-Cola sign, meanwhile, remains in place for the time being.
This loss was expected. We’ve known since the closure announcement last month that ownership intended to keep the signs for a potential reboot of the business elsewhere in the neighborhood. We’re now one step closer to that.
Word on the street is that co-owner John Vasilopoulos is currently negotiating a lease for a new commercial space within close proximity to the original. As in, the potential Cup & Saucer replacement location is reportedly nearby on Grand Street. But not a corner spot. And the antique signs will follow.
As previously reported, Cup & Saucer fell victim to a wallet-busting rent gouge last month. The landlord hiked the monthly take nearly fifty-percent to $15,000 (plus real estate taxes). The business was under the same ownership since partners Nick Tragaras (also a cook) and John Vasilopoulos took over in 1988. Yet, the corner kitchen dates back some 77 years during its time as a Jewish luncheonette.