NEW YORK (CBSNewYork) -- The Lower East Side building that houses the famed Katz's Deli may soon be getting a makeover.
Katz's owner Jake Dell said Tuesday that he is selling the air rights of the building at Houston and Ludlow streets.
The decision means that developers would be able to build on top of the single-story eatery.
But despite the appetite for development, pastrami lovers need not worry. The owner said the future of Katz's Deli is secure.
Katz's opened on the Lower East Side in 1888 as Iceland Brothers, and became Iceland & Katz when inaugural owner Will Katz joined the business in 1903. Willy and his cousin Benny bought out the Iceland Brothers in 1910, and the establishment became Katz's Delicatessen.
The deli was originally located across the street from its current location, but had to move for the construction of the subway system.
Katz's is world famous for its hand-carved pastrami and corned beef. The deli sells up to 20,000 pounds of meat a week.
The deli also made its mark in pop culture, making a famous appearance in a classic Billy Crystal movie.
A sign hangs over the table where the scene was filmed reads "Where Harry met Sally...hope you have what she had!"
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