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Is One of Burg's Last Bastions of Hipster Madness Toast?

Is 151 Kent Avenue--the dorm-ish rental home of the killer rooftop party (see above for this weekend's fun edition) and countless episodes of hipster madness--be swept away by the upscaling of Kent Avenue? That's the last-nail-in-the-hipster-coffin rumor that's come our way via neighborhood tipster. Here's the bad news:

As the site of many wild and ungoverned parties and unregulated lofts in a mish mash resembling a contemporary version of the Old Bowery Brewery, as depicted in Gangs of New York, what is the documented fate of our building? At a rooftop party over the weekend there was word that it is being demolished in one year. The master lease is up at that time.... What going to happen here? Can they kick us all out if they are to demolish the building? Let's find out and make appropriate plans.First, 184 Kent and now this. Noooo, someone please say it's just an unfounded rumor.
· More Scenes from Memo Day: R.I.P. 184 Kent [Curbed]