According to the Massey Knakal Web site:
The property has Landmark’s Approval for a 6-story steel and glass building for residential, commercial or hotel-use. The development opportunity at 372 Lafayette Street has tremendous potential. The location alone sets the site apart as there is tremendous demand for this type of development project. This property represents a truly exceptional opportunity to capitalize on the strong demand for a premier residential, commercial, or mixed-use development site within the trendiest retail corridor in the NoHo neighborhood of Manhattan.
The property is listed at $4.4 million. It could look something like this:
Meanwhile, here's what it looks like now...enjoy it while you can...
Meanwhile, across the street, work continues on the Great Jones Hotel. Which the sign says will be completed in February 2010.