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Chelsea's 6th Ave Flea Market Over?

At the corner of 6th Avenue and 24th Street, a Curbed reader reports in with neighborhood-changing news from the (former) site of one of Manhattan's most robust flea markets:

The parking lot on the SW corner of 24th & 6th Ave. has been shut down. We heard that there are plans to build another residential tower there, after Community Board pressured Con Ed not to build a sub-station there. Rumor has it that the small, art-deco-industrial building on the corner of 25th & 6th Ave was sold for $7 million and is to be razed as part of the development. Sadly, another flea market lot is gone.
Sad, but had to happen if North Chelsea's gentrification was to continue apace. Anyone got the scoop?