540 Atlantic Avenue, Brooklyn
Apartment building · 159 units · built 2024 · Block 186, Lot 12.
Building permits
- New Building — Large Residential, filed May 17, 2022, 159 units, 8 stories, described as “Proposed eight (8) story mixed used development.”
- No Work, filed Dec 17, 2025
- Alteration, filed Sep 27, 2024, estimated cost $5K, described as “Installation of a heavy duty sidewalk shed as per plans during new building work. No change in use, egress or occupancy. Sidewalk shed shall comply with 2022 NYC building code,chapter 33.”
- Alteration, filed Apr 5, 2024, estimated cost $4K, described as “Installation of temporary barricade as per plans. No change in use, egress or occupancy.”
- Alteration, filed Apr 5, 2024, estimated cost $4K, described as “Installation of temporary roof protection as per plans. No change in use, egress or occupancy.”
- Alteration, filed Apr 5, 2024, described as “Installation of temporary pipe scaffold as per plans. No change in use, egress or occupancy.”
- Alteration, filed Mar 20, 2024, described as “Installation of temporary sidewalk shed as per plans. No change in use, egress or occupancy.”
- Alteration, filed Feb 21, 2024, estimated cost $10K, described as “Proposed to remove sprinkler system in conjunction with full demo job # B00913947. No change to use, egress or occupancy under this application.”
- Alteration, filed Jan 30, 2024, estimated cost $225K, described as “Interior soft non structural demolition, no change to use, occupancy or egress under this application”
- Alteration, filed Jan 17, 2024, estimated cost $160, described as “Proposed 8FT construction fence. No change to use, egress or occupancy under this application.”
- Demolition, filed Sep 26, 2023, estimated cost $300K, described as “Full demolition to a five story building”
- Alteration, filed May 25, 2022, estimated cost $1K, described as “Installation of initial footing foundation in conjunction with NB application #B00738723-I1”
Property taxes
- Assessment
- $19,343,700
- 2026–27 tax
- $495,412
- Market value (city estimate)
- $42,986,000
- Taxable value
- $3,982,730
- Assessed land
- $1,914,300
- Assessed improvements
- $17,429,400
Tax breaks
- 421-a exemption, through Jun 30, 2061, about $1,841,767 a year below the full tax.
Zoning
R7A: floor area ratio 5.55 built, above the 4.00 base zoning allows, which bonuses, transfers or older rules can permit.
Flood zone
Current FEMA flood map: zone X, minimal flood hazard.
Recent sales
- Nov 29, 2023: $38,000,000
Open-market sales since 2016, from the Department of Finance’s sales files.
In the news
Affordable Housing Lottery Launches for 540 Atlantic Avenue in Boerum Hill, Brooklyn, New York YIMBY, Aug 27, 2025.