1256 Myrtle AveBrooklyn, NY 11221

This exceptional 2,575 sq ft lot at 1256 Myrtle Avenue in Brooklyn, NY 11221, presents a compelling investment opportunity. Priced at $1,400,000, this fee-simple property boasts R6 and C2-3 zoning, allowing for diverse development options. Its unique configuration extends from Myrtle Avenue to Cedar Street, offering dual street access and flexible building layouts. The current zoning and Floor Area Ratio (FAR) of 2.20 permit the construction of a building with up to 5,665 sq ft, potentially an eight-family dwelling, safeguarding against excessive tax increases as a tax class 2b building. The property's strategic location, a mere one-minute walk from the Central Avenue M train, enhances its appeal. While previous rezoning discussions in Bushwick (paused in 2020) suggested a potential FAR increase to 4.2, allowing for a larger 15-unit development, the current zoning still offers significant upside. This vacant land presents a rare chance to capitalize on the vibrant Brooklyn real estate market, blending residential and commercial potential in a highly sought-after neighborhood. The property's dimensions are 25 x 103 feet.