Just sold: 150 and 162 Coxe Ave.

Photo by Max Cooper

Known as the big hole and the Chrysler Building, respectively, 150 and 162 have been poised for development for years. Zona Lofts planned a 15-story condominium tower for the big hole, but in 2011, the property went into foreclosure.

In December, the big hole and the Chrysler Building sold for just over $2 million combined, according to county records. Eric Booker, who owns the Broadway Street buildings of Sazerac and Strada Italiano (along with an interest in those businesses) has partnered with Mark Maynard, a Wilmington-based developer, to develop the properties.

Since his purchases are still fresh, Booker says he’s unsure of exactly what they’ll become. Office space, residential and parking are all possibilities. The Chrysler building will retain its historic character, he says assuredly. “Without question, we will retain that look with that building,” he says. “It just needs to be given some life: either people living in it or people working in it.”

As for the big hole, it’s finally going to get prettied up. “The vacant parcel there, we're really trying to determine do we want to develop that or do we want to make it look nice and have it for parking,” Booker says. “I don't know if we know the scope, the size or anything at this point.”


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