The new development will be named 181 Sullivan, after the address of the quaint theatre. It will contain four residences. An artist's rendering reveals hardwood floors, a fireplace, spacious quarters and a large picture window facing the street. Triumph Property Group is handling sales for the condo.

In a bit of marketing spin to make theatre nostalgists wince, the new housing structure is trumpeted as "Four fantastic condominium residences."

The new residence is not a complete certainty at present. Fine print on the 181 Sullivan website stated: "No offering can be made until an offering plan is filed with the office of the Attorney General of the State of New York."

The Fantasticks ended its record stay on Jan. 13, 2002, after running without interruption since May 3, 1960. It played 17,162 performances. The production was always helped by the fact that the Playhouse's longtime landlord had signed a run-of-the-play rent contract with producer Lore Noto. Good-faith increases were negotiated starting in the 1970s, but The Fantasticks always benefited from a special relationship with the theatre owner—until the building, a former townhouse and speakeasy, was sold in the late 1990s.

Calls to 181 Sullivan Development LLC were not immediately returned.