Well, at least they are being open about the intentions. From Real Estate Weekly:
Avison Young announced that the firm’s New York City-based investment sales team has been retained as the exclusive sales agent for 644 East 14th Street, directly across from Stuyvesant Town/Peter Cooper Village, in Manhattan.
Principals Neil Helman and Charles Kingsley, who are both members of Avison Young’s Capital Markets Group, are leading the assignment on behalf of the site’s owner.
The 10,106 s/f corner parcel in the East Village is currently occupied by a one-story building. The site can accommodate an as-of-right project with 65,689 s/f for a mixed-use development including residential, retail and community facility space.
The property has 200 ft. of frontage on 14th Street and Avenue C. In addition, there are potentially 70,000 s/f of unutilized development rights from the properties directly to the west of the parcel that, with a zoning lot merger, can be incorporated onto the site.
“Well poised for redevelopment, this corner lot is ideally suited for a multitude of uses, including residential (condos or rentals), retail, and community facility use, including dormitories for student housing, making this a great opportunity for schools and other non-profit institutions,” said Helman. “The location on two wide streets with virtually no restrictions on height limitations is also highly advantageous, enabling a tower to be erected.”
What does this mean for us? For one, more use, from people who are not "residents and their guests," of the Oval and other areas of Stuy Town. For another, a visual blight from a building "with virtually no restrictions on height limitations." And for another another, the further loss of middle-class affordable stores to be replaced by bars and Starbucks.