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Urban Glass House Neighbor Sells; May Go Residential

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481-487 Washington Street, which is right next door to the Urban Glass House, recently sold for $13 million and there are rumors that it could go residential. The 46,270 square foot building is currently set up as offices, but those leases are set to expire by next fall opening the door for any conversion the buyers (who are remaining anonymous) have in mind. This is all well and good, but the smelly elephant in the room is the "psychological barrier" otherwise known as the Tower o' Garbage which might be too close for some potential buyers. However, unnamed sources are saying "the numbers [for 481-487 Washington Street] do not make sense as a commercial rental" alluding to a potential residential conversion. What do you guys think about 481-487 Washington going residential, given the Urban Glass House's Tower O' Garbage related sales problems?

· Urban Glass House Neighbor May Go Residental, Too [TRD]
· Urban Glass House Coverage [Curbed]
· Tower O' Garbage Coverage [Curbed]