$1,895,000
Updated 5 years ago
Off Market

1497 Myrtle Ave

Bushwick, Brooklyn | Menahan Street & Grove Street

28 Rooms12 Beds7.5 Baths6,469 Square FeetMixed Use

$1,895,000
floors3
Lot Size69'1"x68'
ZoneR6
Building TypeLow-Rise
RE Taxes$53,808
Price Per SF
$293

Outdoor space and views

  • City Views
  • Skyline Views

Property Description for 1497 Myrtle Ave

Incredible mixed-use investment opportunity on thriving Myrtle Avenue in Bushwick! Featuring nearly 70' of frontage along one of Bushwick's most popular avenues with existing retail on the ground floor (can be delivered vacant), 1497 Myrtle is gutted out with approved plans for residential use on the second and third floor. The possibilities here are endless with nearly 15' ceilings on the top floor, enormous windows, a stairwell going all the way up to the well-maintained roof/expansive NYC skyline views, and signage opportunities for additional income. The zoning is R6/C2-3 over a 2,353 SF lot which allows for 2.43 FAR of residential and 2 FAR of commercial. By building a little community facility, one could max out the resi/commercial use for a total of 11,294 buildable SF. Please email or call and I can send a pro-forma, the approved plans, and answer any questions you have.

Listing History for 1497 Myrtle Ave

Now
08/06/2021
POM by Nathan Horne
Compass
02/22/2021
$1,895,000 [-$100,000] [5%]
Price Drop by Nathan Horne
Compass

Building Details for 1497 Myrtle Ave

OwnershipMixed Use
Building TypeLow-Rise
AgePre-War
AccessWalk-up
Year Built1931
Floors3
Learn More About the Building

Transit and Citi Bike

Subway

Myrtle-Wyckoff Avs
0.16 miles
Knickerbocker Av
0.22 miles
DeKalb Av
0.35 miles
Seneca Av
0.48 miles

Citi Bike

Myrtle Ave & Grove St
0.02 miles
Myrtle Ave & Linden St
0.11 miles

Contact Agents

Contact Agents

Bushwick | Brooklyn

Quick Profile

As one of the most diverse neighborhoods in New York, Bushwick offers a perfect snapshot of just how multicultural the city is. Long-established as an amalgam of cultures and ethnicities, a wave of varying types of immigrants trickled in from the seventeenth to twentieth centuries, with Bushwick largely becoming a home to Hispanics of Puerto Rican and Dominican backgrounds by the latter part of the twentieth century. 

With the Bushwick Initiative of the mid-00s that aided in revitalization, it became an attractive area to young professionals and artists. And even now, Bushwick has sustained affordable rent prices where other North Brooklyn counterparts, like Williamsburg and Greenpoint, have become more expensive. Priding itself on the weird and the wacky, numerous art collectives thrive in this part of Brooklyn, once famously named the seventh coolest neighborhood in the world by Vogue. 

Though it has drawn in many tourists in recent years (there’s even a graffiti tour you can take from the Bushwick Collective), the neighborhood remains very much community-oriented, and has not been subject to quite the same sort of corporate infiltration phenomenon of its nearby Williamsburg environs. 

But yes, of course, Bushwick has come a very long way from its 80s and 90s reputation as being “The Well,” a nickname given to it for its free-flowing and widely available amount of drugs (quantity over quality being the cliche applied here). 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 79995TH