49 Canal Street was once the home of Overseas Taste Malaysian restaurant.

It’s been several months since Overseas Taste Restaurant, a popular Malaysian spot, called it quits at 49 Canal Street.  Now community board documents show a new venture is in the works at this location. In January, Demetrios Klidonas will go before CB3 to detail plans for a wine bar serving tapas-style plates inspired by Southeast Asian street food.

Klidonas, who (according to his online profile) was involved wth Isadora’s Cafe on East 54th Street for 30 years, is seeking a full bar.  The restaurant would be open 11 a.m.-midnight weekdays and 11 a.m.-2 a.m. on weekends.

This particular area has been attracting a lot of interest of late from real estate investors and nightlife operators.  The transformation of the Jarmulowsky Bank Building into a boutique hotel is a major reason why.  49 Canal Street is located between Ludlow and Orchard streets. It’s just a few steps away from Les Enfants Terribles and Clandestino.  Grotto and Forgetmenot are just a stone’s throw away on Division Street.

CB3′s SLA Committee will hear Klidonas’s pitch Monday, january 7 at 6:30 p.m. The meeting will be held at the JASA/Green building, 200 East 5th Street.