- Western Carpet Warehouse Sells for $27.5 Million [✜]
Brownstoner recently (OK, a week and a half ago) reported that the Western Carpet warehouse on Wythe between North 4th and North 5th has sold for a hefty $27.5 million. This is one of the last really big development sites in the prime Northside area that was rezoned in 2005 (the other being the warehouse across the street on North 5th, which apparently is owned by the same family.
Chris Havens, in the comments says that the new owner is merging two zoning lots to put all of the development rights on the Wythe Avenue site. But the property appears to be a single zoning lot already, and in a height-capped contextual zone, using additional air rights is a tricky proposition.