After much speculation, the building site at 148-150 Green Street has officially been sold for condos, Crain’s New York Business reports.

The site previously housed the contemporary art gallery Faurschou and the Nordic-inspired restaurant Ilis, two businesses that operated out of the one-story building in Greenpoint. Faurschou unceremoniously closed last year amid rumors of financial issues (that we worked to substantiate but never received a response). Ilis followed suit a year later, citing the upcoming building sale and telling Eater that they tried to buy the building but were outbid by a developer.

Crain’s shared that the Williamsburg-based Investmates Real Estate & Development is behind the new project, with plans to create a seven-story, 73-unit condominium building with ground-floor retail. 

“The firm expects to begin construction within the year and be done 18-24 months after that,” the outlet writes.

The new project joins Investmates’ several other—what else?—luxury condo developments in Greenpoint and Williamsburg, including one directly across the street at 153 Green Street.