Vacant lot (583 Franklin) in shadow of Armory shelter to be built on

The building won't be anything marvelous, I post it merely to point out that it now makes financial sense to build new construction even here.

....on a small lot, next to a large shelter and noisy Atlantic Avenue, while paying $700k for the lot alone.

Streetview: http://goo.gl/maps/udtXw

building permit: http://a810-bisweb.nyc.gov/bisweb/JobsQueryByNumberServlet?requestid=1&passjobnumber=321044259&passdocnumber=01

The asking price for that lot was $700k:
http://www.masseyknakal.com/listingimages/setup/pdf/583_Franklin_Avenue_-_Setup.pdf