LISA, the first space project for detecting gravitational waves, relies on two main technical challenges: the free falling masses and an outstanding precision on phase shift measurements (a few pm on 5 Mkm in the LISA band). The technology of the free falling masses, i.e. their isolation to forces other than gravity and the capability for the spacecraft to precisely follow the test masses, will soon be tested with the technological LISA Pathfinder mission. The performance of the phase measurement will be achieved by at least two stabilization stages: a pre-stabilisation of the laser frequency at a level of 10-13 (relative frequency stability) will be further improved by using numerical algorithms, such as Time Delay Interferometry, which have been theoretically and numerically demonstrated to reach the required performance level (10-21). Nevertheless, these algorithms, though already tested with numerical model of LISA, require experimental validation, including 'realistic' hardware elements. Such an experiment would allow to evaluate the expected noise level and the possible interactions between subsystems. To this end, the APC is currently developing an optical benchtop experiment, called LISA On Table (LOT), which is representative of the three LISA spacecraft. A first module of the LOT experiment has been mounted and is being characterized. After completion this facility may be used by the LISA community to test hardware (photodiodes, phasemeters) or software (reconstruction algorithms) components.