# 55 Borinquen Place, Brooklyn

Apartment building · 16 units · built 2022 · Block 2421, Lot 24.

On Umarelli: https://umarelli.org/nyc/3024210024/49-borinquen-place

More construction in Williamsburg: https://umarelli.org/nyc/brooklyn/williamsburg.md

## Building permits

- New Building — Multi-Family, filed Mar 16, 2022, 16 units, 7 stories, described as “Proposed a new 7 story residential building.”
- Alteration, filed Feb 7, 2023, estimated cost $5K, described as “Filing for pump jack scaffold installation for construction of new 8 story building”
- Alteration, filed Dec 1, 2022, described as “Installation of temporary pipe scaffold as per plans. No change in use, egress or occupancy.”
- Alteration, filed Dec 1, 2022, estimated cost $4K, described as “Installation of temporary roof protection as per plans. No change in use, egress or occupancy.”
- Alteration, filed Dec 1, 2022, described as “Installation of temporary sidewalk shed as per plans. No change in use, egress or occupancy.”
- Alteration, filed May 4, 2022, estimated cost $30K, described as “SOE, Foundation and Earthwork filed in conjunction with GC application #B00687734-I1”
- Alteration, filed Apr 1, 2022, estimated cost $5K, described as “Installation of construction fence in conjunction with GC application #B00687734-I1”

## Property taxes

- Assessment: $1,918,800
- 2026–27 tax: $5,590
- Market value (city estimate): $4,264,000
- Taxable value: $44,940
- Assessed land: $168,300
- Assessed improvements: $1,750,500

## Tax breaks

- 421-a exemption, through Jun 30, 2059, about $233,089 a year below the full tax.

## Zoning

R6: floor area ratio 4.71 built, above the 2.43 base zoning allows, which bonuses, transfers or older rules can permit.

## Recent sales

- Aug 24, 2022: $4,000,000

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

[Housing Lottery Launches for 49 Borinquen Place in Williamsburg, Brooklyn](https://newyorkyimby.com/2024/02/housing-lottery-launches-for-49-borinquen-place-in-williamsburg-brooklyn.html), New York YIMBY, Feb 20, 2024.

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