Eat and Drink Katz's Deli sells air rights, won't close Katz's Delicatessen opened in 1888 and is one of the oldest restaurants in New York City. Photo Credit: Flickr / thomashawk By GEORGIA KRAL August 29, 2014 1:01 PM Print Share Share Tweet Share Email In a city that's as popular as New York City and where buildings are rising all the time, perhaps this shouldn't come as much of a surprise. But, here it is: Katz's will allow a developer to build on top of the iconic restaurant. According to The Lo-Down, owner Jake Dell said there is a deal in place to sell the air rights above the restaurant. Here is the full text of the statement Dell sent: "The most important thing is that the future of Katz’s is secure — at the end of the day, no developer can ever come in and knock us down to put in a high rise. At no point will anyone value the corner of Houston and Ludlow for anything other than Katz’s Delicatessen. A year after our 125th anniversary, this will help ensure that we can see our 150th, and hopefully many more to come." So don't worry - yet. There are still plenty of pastrami sandwiches to go around, though rumors of the sale of the business, and also the fact that nearby properties are being demolished and restaurants there are closing, certainly adds uncertainty to the fire. By GEORGIA KRAL Share on Facebook Share on Twitter Comments Comments section is temporarily on hold. Here’s why.