491 Myrtle Avenue Is For Sale, Now At Twice The Price

We noticed passing by 491 Myrtle Avenue (between Ryerson and Hall Streets) yesterday that a for sale sign has been posted at the lot.

491, vacant since the building that formerly stood on it collapsed in 2009, appears to have been bought for $875,000 in March. Ariel Property Advisors is now asking $1.8 million for the 20.5′ x 84′ lot, which is zoned R7A with a C2-4 overlay. The property is eligible for an inclusionary housing bonus, which would allow a developer to build a larger structure (at its base) in exchange for including affordable units.

As the listing notes, the 491 is across the street from Silverstone Property Group’s block of forthcoming buildings–but it will also be across from Myrtle Avenue Plaza and steps from multiple new luxury developments, as well.

Members of the nearby Spanish United Pentecostal Church (618 Myrtle Avenue at Kent) have been volunteering at 491–growing produce and tending the lot–since June, according to The Brooklyn Ink. Paintings that had been previously hung on the lot’s fence have been taken down.