# 40-25 Crescent Street, Queens

Industrial · built 1957 · Block 406, Lot 12.

On Umarelli: https://umarelli.org/nyc/4004060012/40-25-crescent-street

More construction in Long Island City: https://umarelli.org/nyc/queens/long-island-city.md

## Building permits

- New Building — Large Residential, filed Apr 17, 2023, 233 units, 8 stories, described as “Hereby filing for a new 8 story mixed use (r-2) building.”
- Alteration, filed Sep 8, 2026, described as “Installation of temporary construction fence per plan submitted. Work shall comply with 2022 building codes chapter 33. No change in use, egress and/or occupancy with this application.”
- Alteration, filed Jun 15, 2026, estimated cost $8K, described as “Proposed to cut, cap and demolish sprinkler system in conjunction with full demo job # Q01411553. No change to use, egress or occupancy under this application.”
- Demolition, filed Jun 4, 2026, estimated cost $450K, described as “Full demolition to a one story building”
- Demolition, filed Jun 4, 2026, estimated cost $450K, described as “Full demolition to a one story building”
- Demolition, filed Jun 4, 2026, estimated cost $450K, described as “Full demolition to a one story building”
- Alteration, filed Mar 17, 2026, estimated cost $1K, described as “Hereby filing for a new 12-foot curb cut in conjunction with New Building application #Q00845721-11.”
- Alteration, filed Nov 7, 2025, estimated cost $1K, described as “Hereby filing for structural related work in conjunction with new building application #Q00845721”
- Alteration, filed Nov 7, 2025, estimated cost $1K, described as “Hereby filing related foundation work in conjunction with NB application # Q00845721”
- Alteration, filed Jan 9, 2024, estimated cost $1K, described as “Hereby filing for new temporary standpipe alarm system as per local law 63&64 of 2009 filed in conjunction with NB #Q00845721”
- Alteration, filed Jul 19, 2023, estimated cost $1K, described as “Hereby filing for new mechanical system related to new building application #Q00845721”
- Alteration, filed Jul 14, 2023, estimated cost $1K, described as “Hereby filing for a new sprinkler & standpipe system related to new building applicatiion #Q00845721-I1”
- Alteration, filed Jul 14, 2023, estimated cost $1K, described as “Hereby filing related plumbing work for new building application# Q00845721”
- Alteration, filed Jun 29, 2023, estimated cost $1K, described as “Hereby filing for support of excavaction work related to NB APPLICATION#Q00845721-I1”
- Alteration, filed Jun 8, 2022, estimated cost $1K, described as “Hereby filing for 1 new pile as limited foundation element in conjunction with NB# Q00845721-I1 to meet 421A requirements”

## Property taxes

- Assessment: $1,807,200
- 2026–27 tax: $183,890
- Market value (city estimate): $4,016,000
- Taxable value: $1,695,150
- Assessed land: $813,600
- Assessed improvements: $993,600

## Tax breaks

- ICAP/ICIP exemption, through Jun 30, 2028, about $7,010 a year below the full tax.

## Zoning

M1-2/R6A: floor area ratio 0.53 built, 3.00 allowed by base zoning.

## Flood zone

Current FEMA flood map: zone X, minimal flood hazard.

## Board and land use applications

- 40-25 Crescent Street Rezoning (City Planning 2020Q0105): Zoning map change, Zoning text change, Completed, decided Oct 20, 2022. A rezoning from M1-2/R5D and M1-2/R5B to M1-2/R6A, and related zoning text amendment to enable and establish MIH provisions within the Special LIC Mixed Use District, to facilitate a new seven-story mixed-use building with 175,000 sf,…

## In the news

[Permits Filed for 40-25 Crescent Street in Long Island City, Queens](https://newyorkyimby.com/2023/04/permits-filed-for-40-25-crescent-street-in-long-island-city-queens.html), New York YIMBY, Apr 22, 2023.

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