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Brooklyn / Prospect Heights / 11238

494 STERLING PLACE

Boro3
Block1174
Lot21
BBL3011740021
Class D1
Residential units
77
Units in total
77
Storeys
7
Year built
2013
Last alteration on file
2006
Recorded transfers
3 since 2003
01

What has sold here

Every transfer the City has recorded against this lot since 2003 with a consideration above zero. A co-op apartment has no deed, so its sale is recorded as a Real Property Transfer Tax return instead; both are printed here and the instrument is named in the last column. The figure is the consideration as filed, which is not always the price a buyer would recognise.

RecordedConsiderationUnitWhat transferredInstrument
31 Aug 2017$47,865,234-APARTMENT BUILDINGRPTT&RET
13 Jan 2015$48,075,000-APARTMENT BUILDINGDEED
7 Sep 2012$5,950,000-APARTMENT BUILDINGDEED
RPTT&RET
BOTH RPTT AND RETT. A New York City Real Property Transfer Tax return filed together with the New York State return. A co-operative apartment sale conveys shares rather than real property, so this return, and not a deed, is what gets recorded.
DEED
DEED. Conveys real property: a condominium apartment, or an entire building and the land under it.

By year

YearTransfersMedian recordedLowestHighest
20171$47,865,234--
20151$48,075,000--
20121$5,950,000--
02

The building on the lot

Section through the lot

LOT 19,650 SQ FT7
Drawn from PLUTO: 7 storeys, 62,190 sq ft of building on 19,650 sq ft of lot, an average floor plate covering 45% of it. It is a diagram of recorded figures, not a picture of the building.
Lot area
19,650 sq ft
Building area
62,190 sq ft
Residential area
62,190 sq ft
Commercial area
-
Office area
-
Retail area
-
Buildings on the lot
1
Built floor area ratio
3.16
Residential FAR permitted
3
Zoning district
R6A
03

Assessment

Assessed land value
$370,800
Assessed total value
$7,648,650
Exempt value
$1,507,860
Assessed per residential unit
$99,333

Assessed value is the figure the Department of Finance uses to levy property tax. For a class two building it is derived from an income approach and it is capped in how fast it can rise. It is not a market valuation and the two figures routinely differ by a wide margin. What the assessment does and does not tell you.

04

Classification and location

Building class
D1ELEVATOR APT; SEMI-FIREPROOF WITHOUT STORES
Neighbourhood
Prospect Heights
ZIP code
11238
Community district
Brooklyn 8
Council district
35
Coordinates
40.674014, -73.961823
05

Other buildings in Prospect Heights

AddressClassRes. unitsBuiltTransfersMedian apartment, 5 yr
595 DEAN STREETRM79820210-
662 PACIFIC STREETRM31220190-
535 CARLTON AVENUERM29720151-
550 VANDERBILT AVENUERM2782015363$1.11m
870 ATLANTIC AVED718920240-
135 EASTERN PARKWAYD41861926172$1.92m
700 PACIFIC STREETRM1682002284$1.27m
PACIFIC STREETD611320190-
500 ST JOHNS PLACED111219310-
34 PLAZA ST EASTD4111195699$730k
201 EASTERN PARKWAYD710019240-
1 GRAND ARMY PLAZARM942006176$1.88m

Every building on file in Prospect Heights