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There are three Gray's Papaya locations in Manhattan, and the price of their hot dogs varies from stop to stop.

NY1's Mara Montalbano visited the flagship location on 72nd and Broadway for a taste of the original Recession Special.

The Zagat guide hails Gray's Papaya Recession Special as "the best deal in town."

Founder Nicholas Gray says while the special started in the 1980s at $1.75, rising costs like rent, payroll, and food have brought the price of the special up. Yet he's sure to add that tax is always included.

"Which is quite a lot of money, actually, about 40 cents, which you don't get at McDonald's, or places like that; the tax is extra," says Gray.

The all-American meal for under $5 seems to appeal to the masses.

"We sometimes get people coming in limousines," says Gray. "We get celebrities. But usually it's whosever on the sidewalk."

"Everybody likes to save a little money you know," says one customer.

"I think it's great," says another. "New Yorkers really know how to stretch a dollar and Gray's Papaya helps."

"I've been eating it for many, many years, before there was a recession," says a third. "I guess they were prophetic in having it around even when people were making millions of dollars and stock market was doing very well."

Gray's Papaya
2090 Broadway
212-799-0243