NEW YORK (CBSNewYork) — A New York City company is hoping to turn a little plot of green space into lots of green dollar bills.

The Participation Agency is marketing a patch of grass, located at 145 Ludlow St., on the Lower East Side, as a “backyard time share.”

Jacqui Kavanagh and Jessica Resler came up with the idea to create a refuge for New Yorkers. The catch is anything you use, you have to rent from the Participation Agency — a creative organization run by the two entrepreneurs.

“It does sound a little crazy but it’s New York. So if you’re gonna be able to do it anywhere, it’s gonna be right here,” Kavanagh told CBS 2’s Katie Fehlinger.

1010 WINS’ Stan Brooks Speaks With New Yorkers About The Idea

Everything’s rentable from the grill to the cooler, to even the hula hoop. Jacqui and Jessica said the sky’s the limit.

You can customize the 3,200-square foot backyard with items that range in price from $5 — like beach balls — all the way up to $5,000, which gets you a local band that will perform an acoustic set, Resler said. The green space will be available for a price of $50 per hour. Want to host a barbecue? It will set you back $150 to rent the grill. And perhaps a kiddie pool to keep the children busy? That will cost $200 to rent.

The State Liquor Authority says the operators would also need to get a liquor license if renters brought alcohol to the site.

Stan Brooks of 1010 WINS spoke with one New Yorker, who predicted the idea would be a success.

“It’s amazing. I think it’s a great thing for the neighborhood. It’s a little bit of money, but people will pay for it. They’ll definitely pay for it,” one man said. “I think it’ll work.”

“I don’t necessarily want to hike up all the way to Central Park, but I live right there, so, yeah, this is my new spot,” Jay Nayssan told CBS 2’s Fehlinger.

Others, however, found the thought of it to be crazy and outlandish.

“Is that really what the Lower East Side is coming to? How about you just go and spend the day on the grass in Central Park for free or down in Battery Park?” asked another man.

“A $150 to have a barbecue in the Lower East Side? That’s ridiculous,” he said.

“There’s a guy that’s saying he’s gonna throw garbage at people who are going to be there, so that might not be such a good thing. But I’m fine with it. I mean if it brings more business to the area I think it’s good,” resident Lisa Carroll said.

Kavanagh and Resler said they plan to impose an early evening curfew on the property in an effort to keep the neighbors happy.

The space is set to open next Thursday.

SOUND-OFF: Will the idea work or is it crazy?  Share your thoughts in the comments section…

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