355 Shepherd Avenue, Brooklyn
Apartment building · 125 units · built 2023 · Block 3989, Lot 1.
Building permits
- New Building — Large Residential, filed Nov 15, 2021, estimated cost $22.6M, 123 units, 7 stories, described as “An affordable housing project. A (7) story new building with (123) dwelling units in total. A mixed use of (105) UG2 + (10) UG3 + (8) AIRS units”
- Alteration, filed Nov 27, 2024, estimated cost $273K, described as “Installation of solar panels on existing roof structure. No change in egress,use, or occupancy”
- Alteration, filed Jul 28, 2023, estimated cost $25K, described as “Proposed installation of heavy duty sidewalk shed as per plans. Live load 300 lbs per square feet. Sidewalk shed shall comply with chapter #33 of the NYC building code. No change in use, occupancy, or egress under this application.”
- Alteration, filed Jul 25, 2023, estimated cost $5K, described as “Installation of 300 psf sidewalk shed and roof protection as per plans. All equipment shall comply with chapter #33 of the 2022 code. No change in use, egress or occupancy under this application.”
- Alteration, filed Apr 24, 2023, estimated cost $10K, described as “Installation of multi-point & 2 point suspeneded scaffold during new building construction. Horizontal netting shall comply with nycc 2022 chapter 33. No change in egress, use, or occupancy.”
- Alteration, filed Mar 27, 2023, estimated cost $5K, described as “Proposed installation of pipe scaffold for remedial repairs as per plans. No change in use occupancy or egress under this application.”
- Alteration, filed Jan 10, 2023, estimated cost $1K, described as “Install temporary construction fence for newbuilding NB # B00594970.”
- Alteration, filed Oct 25, 2022, estimated cost $2K, described as “Install temporary construction fence, part of fence surrounding lots 3, 1, 36, and 34. This fence application is in conjunction with demo filing job#s 322106911, 322106902, and 322106920 on lot 3.”
- Alteration, filed Oct 25, 2022, estimated cost $1K, described as “Install temporary construction fence, part of fence surrounding lots 3, 1, 36, and 34. This fence application is in conjunction with demo filing job# 322106895 on lot 34.”
- Alteration, filed Oct 25, 2022, estimated cost $1K, described as “Install temporary construction fence, part of fence surrounding lots 3, 1, 36, and 34. This fence application is in conjunction with demo filing job#s 322106957 and 322106975 on lot 1.”
Property taxes
- Assessment
- $7,604,550
- Market value (city estimate)
- $16,899,000
- Taxable value
- $0
- Assessed land
- $765,900
- Assessed improvements
- $6,838,650
Tax breaks
- 420-c exemption, through Jun 30, 2063, about $945,930 a year below the full tax.
Zoning
R6A (part of the lot is M1-1/R6A): floor area ratio 4.40 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
- Oct 19, 2022: $4,066,307, sold with other lots
Open-market sales since 2016, from the Department of Finance’s sales files.
In the news
Shepherd Glenmore Completes Construction at 365 Shepherd Avenue in East New York, Brooklyn, New York YIMBY, Aug 2, 2025.