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471-481 Myrtle Ave
Brooklyn, NY 11205
 Myrtle Ave Development Site · Land For Sale · 0.24 AC

Commercial Land Parcels New York Brooklyn 471-481 Myrtle Ave, Brooklyn, NY 11205

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Executive Summary

Offered exclusively: This is an Exceptional Opportunity to purchase 6 contiguous bldgs ( 5 addresses) assemblage in Prime Clinton Hill neighborhood on the main corridor of Myrtle avenue @ the corner of Hall Street and in between Hall St and Washington Avenue. 120 feet of frontage on Myrtle Avenue and 80 feet of depth. Incredible development opportunity for a 60,000+/- SF new structure with nine stories. The current properties are partially leased to afford a purchaser some cash flow while putting together development plans. Current rents (all under market) is approximately $297,000

Property Facts

Sale Type Investment or Owner User Proposed Use
Commercial
  • Hold For Development
No. Lots 1 Total Lot Size 0.24 AC
Property Type Land Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Subtype Commercial
Zoning R7A - R7 - Medium-density apartment house district with lower parking requirements
Sale Type Investment or Owner User
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Commercial
  • Hold For Development
Total Lot Size 0.24 AC
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning R7A - R7 - Medium-density apartment house district with lower parking requirements

1 Lot Available

Lot

Price $18,500,000 Lot Size 0.24 AC
Price Per AC $77,083,333.33
Price $18,500,000
Price Per AC $77,083,333.33
Lot Size 0.24 AC
 

  • Listing ID: 34522721

  • Date on Market: 1/17/2025

  • Last Updated:

  • Address: 471-481 Myrtle Ave, Brooklyn, NY 11205

The Wallabout Land Property at 471-481 Myrtle Ave, Brooklyn, NY 11205 is currently available. Contact Douglas Elliman for more information.

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