An iconic hot dog stand in Paterson that closed during the pandemic was sold to the highest bidder.

Libby's Lunch on McBride Avenue, adjacent to the Great Falls, sold hamburgers and sandwiches – but was best known for its Texas hotdogs.

Through an online auction earlier this week, a Clifton restaurant owner purchased the property that sold for $850,000.

"This just demonstrates the potential that the Great Falls possesses and the fact that investors recognize that as well and that this will be a boon to the city of Paterson. It's going to improve the quality of life in Paterson," said mayor Andre Sayegh.

City officials say the property will be transformed into a restaurant-style café. Plans for the property still need to be approved by city council.