40 Sherman Avenue, Manhattan
Apartment building · 45 units · built c. 1914 · Block 2175, Lot 92.
Building permits
- Alteration, filed Dec 23, 2019, estimated cost $18K, described as “Install chimney liner”
- Alteration, filed Nov 25, 2019, estimated cost $1K, described as “Connect to existing gas piping for replacement gas/oil burner and refiling of boiler (originally filed under mis 2072-82). No change in use, egress or occupancy.”
- Alteration, filed Nov 25, 2019, estimated cost $16K, described as “Refiling of boiler (originally filed under mis 2072-82) and replacement gas/oil burner as per plans. No change in use, egress or occupancy.”
Property taxes
- Assessment
- $1,160,100
- 2026–27 tax
- $50,323
- Market value (city estimate)
- $2,578,000
- Taxable value
- $714,374
- Assessed land
- $270,000
- Assessed improvements
- $890,100
Tax breaks
- J-51 exemption, through Jun 30, 2055, about $37,722 a year below the full tax.
- J-51 abatement, through Sep 30, 2040, a $22,200 credit this tax year.
- Solar abatement, through Jun 30, 2027, a $16,338 credit this tax year.
Zoning
R7-2: floor area ratio 3.80 built, above the 3.44 base zoning allows, which bonuses, transfers or older rules can permit.
Flood zone
Current FEMA flood map: zone X, minimal flood hazard.