Could A Vacant Commercial Property Become A Creative-Use Space?

By now it’s become all too familiar — a vacant commercial property transforms into a high-priced residential condo or rental.

There could be some different kind of news when it comes to 415 20th Street (between 7th and 8th Avenues).

The commercial real estate broker TerraCRG will represent the ownership for the sale of the building, according to LoopNet.

The vacant building is 15,071 gross square feet and also includes 1,100 square feet for outdoor parking.

Because of the real estate rezoning that took place in this part of the Greenwood Heights neighborhood, the building could very well turn into a space for creative usage.

“The area went through a rezoning that resulted in a number of new residential developments while preserving the historic character of the neighborhood,” explains LoopNet. “While some parts of the neighborhood remain commercially zoned, these areas have transformed from primarily traditional industrial uses to more creative uses such as outdoor beer halls, offices and hotels.”

The traffic on 20th Street between 7th and 8th Avenues has been a source for controversy due to the street being so narrow. In addition, it’s a truck route — and trucks have very little room when passing each other. There are many who would like to see it turn into a one-way street.

So a few questions arise concerning this space:

How would the usage of the building affect the flow of traffic on 20th Street?

If the building does become a space for creative usage, what kind of creative usage would that be?