1202 40th Street, Brooklyn
Condominium · 4 units · built c. 1901 · Block 5589, Lot 7501.
Building permits
No building permits on file for this lot.
Property taxes
- Assessment
- $783,000
- 2026–27 tax
- $2,556
- Market value (city estimate)
- $1,740,000
- Taxable value
- $20,548
- Assessed land
- $107,100
- Assessed improvements
- $675,900
- Condo units with their own tax lots
- 4
Tax breaks
- 421-a exemption, through Jun 30, 2032, about $16,603 a year below the full tax.
Zoning
R6: floor area ratio 3.01 built, above the 2.43 base zoning allows, which bonuses, transfers or older rules can permit.
Flood zone
Current FEMA flood map: zone X, minimal flood hazard.
Recent sales
- Aug 25, 2026: $980,000, Apt 2
- Jun 13, 2022: $850,000, Apt 3
- Aug 15, 2016: $810,000
- Jun 22, 2016: $610,950
- Jun 20, 2016: $625,000
Open-market sales since 2016, from the Department of Finance’s sales files.