We just learned a short time ago that Cup & Saucer, the classic diner at 89 Canal St., is closing next week after 30 years at the same location.
A tipster who lives on the block delivered the unwelcome news a short time ago, and we have confirmed it with the longtime owners of the much-loved lunch counter. The reason for the closure is a steep rent increase, to $15,000 per month including real estate taxes. The last day in business will be next Monday, July 17.
Cup & Saucer is owned by John Vasilopoulos and Nick Castanos. They’ve been running the diner on the border of the Lower East Side and Chinatown since 1988. The place has been open since 1940 at this same location (it was a Jewish-owned diner before Vasilopoulos took it over three decades ago).
The building was sold several years ago, and the rent has been going up ever since. The owners say the increases have just become too steep. They’re looking for a new location in the neighborhood, but nothing is imminent.
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