Gray's Papaya Downtown   

402 Avenue Of The Americas
New York, NY 10011
212-260-3532

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It's no surprise that this dive, basically an indoor hot dog stand, has been packing them in since the 1970s. Its prices are still circa the 1970s. There's really only one reason to come here: cheap hot dogs, round-the-clock. At less than a dollar, the broiled or grilled beef hot dogs are the best value in town, especially when you add on sauerkraut, onions, mustard and other accoutrements. What makes it even more unique is that everyone washes it down with a tropical drink -- like pina colada or papaya juice. The decor is more 'gray' than 'papaya' and about as inspiring as a tire iron -- grungy and neglected. Many connoisseurs of the beef dog swear by Gray's (or swear when they can't get Gray's), but even occasional users can appreciate the Recession Special: two dogs, one drink, two bucks.