A new synthesis of methylenomycin B (1) has been accomplished in four steps starting with a NI(CO)4 promoted cyclocondensation reaction of allyl chloride and 2-butyn-1-ol in MeOH, followed by hydrogenolysis of the resulting mixture to 2,3-dimethyl-5-methyl-oxycarbonylmethyl-2-cyclopentenone (3), which by hydrolysis and oxidative decarboxylation yielded 1.