This is a bit dated, but Gothamist reports that Crown Vic is “100% [closing], it’s just a question of when”. “When” could be another five years. The property (which extends from South 2nd to South 3rd, and includes about half a block of frontage on Wythe Avenue) was rezoned in 2011 to allow residential use, with up to 20% of the site being affordable housing. Since then, it has been acquired by Manhattan developer Flank. Back in 2011, the owner of Crown Vic claimed to have a 10-year lease. Flank has said that they plan to develop the site “once the retail leases expire”, though a but out is certainly possible.
Flank has also acquired a similarly-sized site at two blocks south at Grand and Wythe.