A prime development parcel on West North Avenue – and a location that may be familiar to drivers who have had their cars towed in the city – has been sold at auction after heavy bidding.The former headquarters of Greenwood’s Towing, previously known as Greenwood’s Garage, was sold for $2,336,250, which included a five percent buyer’s premium.Greenwood’s, founded in 1925, closed earlier this year. The business, including tow trucks and other assets but not the real estate or company name, has been acquired by Universal Towing at 3204 Frederick Avenue.The 1.87-acre Greenwood’s property – actually two adjacent parcels located at 1358-1370 West North Avenue — is one of the largest tracts in the Penn North neighborhood of west Baltimore. The sale is a sign of strong interest from potential investors in the West North Avenue corridor. The winning bid was $2,225,000, and the buyer’s premium brought the total to $2,336,250.According to auctioneer Daniel Billig of A. J. Billig Auctioneers, more than 20 potential buyers were registered for the sale. “Bidding was spirited,” Billig said in an email message. “Prospective purchasers included automotive and warehouse users, investors and developers.”Billig conducted the sale on behalf of the Greenwood family, which operated the automotive towing and impound company until last spring. The buyer was a developer, Alex Aaron, the CEO of Blank Slate Development LLC. Aaron has not disclosed his plans for the property.A site plan shows an aerial view of the Greenwood’s Towing property that was sold at auction. Image courtesy of A. J. Billig Auctioneers.The parcel is ripe for redevelopment. It’s several blocks west of the $100 million Reservoir Square mixed-use development project led by MCB Real Estate, and one block east of Pennsylvania Avenue. Coppin State University is about eight blocks to the west and Metro subway service is within walking distance.The land is fully fenced and zoned C-2 for commercial development. It contains 57,000 square feet of automotive, retail and office buildings and is level, paved and clear except for the existing buildings.The auction was held on October 23 and the property settled on December 5. The sale was advertised as an absolute auction above $250,000, and it was conducted both in person and online. The property has one tenant, Keystone Pharmacy, which occupies a one-story structure fronting on North Avenue. The pharmacy’s lease runs until Nov. 30, 2026 and includes options for two five-year renewals. Otherwise, the land is ready for a new use.Blank Slate (blankslatecdm.com) is a minority-owned real estate firm that was founded in 2017 and provides construction, development and management services. Its website shows residential and mixed-use projects in Reservoir Hill, Seton Hill, Station North, Hollins Market, Oliver, Roland Park and Broadway East. Many of them involve historic preservation.Blank Slate is currently working with Seawall on Sisson East, a mixed-use project in Remington. It’s also working with MCB Real Estate on Reservoir Square. Aaron, a graduate of Howard University, declined to comment about his purchase of the Greenwood’s property.