# 550 Prospect Place, Brooklyn

Apartment building · 41 units · built 2020 · Block 1163, Lot 23.

On Umarelli: https://umarelli.org/nyc/3011630023/550-prospect-place

More construction in Crown Heights: https://umarelli.org/nyc/brooklyn/crown-heights.md

## Building permits

- Alteration, filed Aug 3, 2020, estimated cost $10K, described as “Installation of sidewalk shed and pipe scaffold , roof protection as per plans. Sidewalk shed live load will be 300 psf, all equipment shall comply with chapter #33 of the 2014 code no change to use, egress or occupancy.”
- Alteration, filed Feb 27, 2020, estimated cost $190, described as “Curb cut filed in conjunction with NB job #321593432”
- Alteration, filed Dec 20, 2019, estimated cost $160, described as “Construction fence file in conjunction with NB job #321593432”
- Alteration, filed Nov 23, 2019, estimated cost $266K, described as “Installation of sprinkler and standpipe system in conjunction with new building application #321593432. No change in use, egress or occupancy.”

## Property taxes

- Assessment: $5,092,650
- 2026–27 tax: $31,469
- Market value (city estimate): $11,317,000
- Taxable value: $252,990
- Assessed land: $387,000
- Assessed improvements: $4,705,650

## Tax breaks

- 421-a exemption, through Jun 30, 2057, about $602,005 a year below the full tax.

## Zoning

R6A: floor area ratio 5.90 built, above the 3.00 base zoning allows, which bonuses, transfers or older rules can permit.

## Recent sales

- Jun 27, 2018: $6,000,000

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 550 Prospect Place in Crown Heights, Brooklyn](https://newyorkyimby.com/2021/07/affordable-housing-lottery-launches-for-550-prospect-place-in-crown-heights-brooklyn.html), New York YIMBY, Jul 21, 2021.

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