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JOE KNOWS BASKETBALL: Joe Joseph Abboud, the men’s wear line from JA Apparel Corp. that is being sold exclusively at J.C. Penney, had its launch party at the famous Cage basketball court on West Third Street in Greenwich Village in May, and on Saturday, it’s hosting an NBA block party outside the retailer’s store in Herald Square. Open to the public, the event, which will be held from 11 a.m. to 3 p.m., will feature a runway fashion show with current, former and future players, all sporting the Joe fall collection. The day’s festivities will include autograph sessions, fan photos with the NBA Championship Trophy and a live performance by the New Jersey Nets Dancers. The fashion show, which kicks off at 1 p.m., will be emceed by former Knicks great — and fashion maven — Walt “Clyde” Frazier and is scheduled to include John Starks, Allan Houston, Chris Duhon, Randy Foye and others.