488 Marcus Garvey Blvd, Brooklyn
Apartment building · 18 units · built 2022 · Block 1859, Lot 29.
Building permits
- Alteration, filed Dec 6, 2022, estimated cost $2K, described as “Installation of needle beam as per plans. Needle beam shall comply with chapter #33 of the NYC code, no change in use, egress or occupancy under this application.”
- Alteration, filed Oct 3, 2022, estimated cost $10K, described as “Installation of pipe scaffolding as per plans. All equipment shall comply with chapter # 33 of the 2014 code. No change in use occupancy or egress under this application.”
- Alteration, filed Apr 13, 2021, estimated cost $5K, described as “Installation of sidewalk shed as per plans. Sidewalk shed live load will be 300 psf shall comply with chapter #33 of the 2014 code, no change to use, egress or occupancy.”
- Alteration, filed May 13, 2019, estimated cost $2K, described as “8' plywood construction fence”
Property taxes
- Assessment
- $1,260,000
- 2026–27 tax
- $17,084
- Market value (city estimate)
- $2,800,000
- Taxable value
- $137,340
- Assessed land
- $100,350
- Assessed improvements
- $1,159,650
Tax breaks
- 421-a exemption, through Jun 30, 2059, about $139,648 a year below the full tax.
Zoning
R6A (part of the lot is R7D): floor area ratio 6.03 built, above the 3.00 base zoning allows, which bonuses, transfers or older rules can permit.
Flood zone
Current FEMA flood map: zone X, minimal flood hazard.
Recent sales
- Feb 6, 2019: $2,350,000
Open-market sales since 2016, from the Department of Finance’s sales files.
In the news
Housing Lottery Launches for 488 Marcus Garvey Boulevard in Bed-Stuy, Brooklyn, New York YIMBY, Dec 12, 2023.