# 540 Atlantic Avenue, Brooklyn

Apartment building · 159 units · built 2024 · Block 186, Lot 12.

On Umarelli: https://umarelli.org/nyc/3001860012/540-atlantic-avenue

More construction in Boerum Hill: https://umarelli.org/nyc/brooklyn/boerum-hill.md

## 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.

## Recent sales

- Nov 29, 2023: $38,000,000

Open-market sales since 2016, from the Department of Finance’s sales files.

## Flood zone

Current FEMA flood map: zone X, minimal flood hazard.

## In the news

[Affordable Housing Lottery Launches for 540 Atlantic Avenue in Boerum Hill, Brooklyn](https://newyorkyimby.com/2025/08/affordable-housing-lottery-launches-for-540-atlantic-avenue-in-boerum-hill-brooklyn.html), New York YIMBY, Aug 27, 2025.

From New York City and Jersey City public records, refreshed within a day of each release. Sources: https://umarelli.org/sources. Methodology and corrections: https://umarelli.org/methodology