What's Going on at Katan's No-Go 6th Street Site?

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Once upon a time, in a boom now past, Isaac Katan had plans to develop a 4th Avenue building half a block away from the Novo, which he also had a hand in. The 12-story, 107-unit project hasn't seen any action on the DOB-permit front in more than a year, and nothing's happened in real life at the site since then, either. The only thing of note concerning the parcel this year, in fact, is that Property Shark recorded a lis pendens on it in January. Until now: A reader sent in the above photograph, noting that the site is has started sporting signs from the commercial brokerage Kalmon Dolgin that tout a "prime retail space." Her questions, and ours: "Any thoughts on what might move in? Also on our minds: Why is it being sold as a retail site and not a development site?" Anyone know?
New Entry in the 4th Avenue Development Game [Brownstoner] GMAP DOB

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