Luxury Buildings Valued At $50 Million Coming To Steuben & Myrtle Blocks

Development group Greystone has purchased two Clinton Hill properties it plans to turn into “luxury rental apartment buildings with high-end amenities,” according to a press release sent out this morning.

531 Myrtle Avenue and 100-102 Steuben Street, just around the corner from one another, will be a few of the neighborhood’s next sites affected by a continued development boom. 100-102 is just down the block from the 96 Steuben, which recently began leasing, while 531 is steps from the forthcoming seven story build at 525 Myrtle. Both sites are quite close to Silverstone Property Group’s huge construction block on Myrtle as well as forthcoming Pratt buildings on Emerson Place.

531 is also currently the site of White Castle, which will make this the second North Brooklyn White Castle to close–or to be staring down an impending closure–as a result of development within in a few months’ time. In their release, Greystone–who has developed properties previously in Williamsburg, DUMBO, lower Manhattan, and Florida–offered a “projected value” of $50 million for the sites.

“Brooklyn’s appeal is only growing,” Greystone head Jeffrey Simpson said in the release, “and we are excited to add high-quality residential offerings to meet the demand.”

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