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Brooklyn / Bedford-Stuyvesant (East) / 11221

588 GATES AVENUE

Boro3
Block1816
Lot1
BBL3018160001
Class D9
Residential units
150
Units in total
150
Storeys
6
Year built
1973
Last alteration on file
-
Recorded transfers
2 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
7 Aug 2009$2,673,948-APARTMENT BUILDINGRPTT&RET
30 May 2003$1150APARTMENT BUILDINGDEEDO
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.
DEEDO
DEED, OTHER. A conveyance the Register files under its other-deed category.

By year

YearTransfersMedian recordedLowestHighest
20091$2,673,948--
20031$1--
02

The building on the lot

Section through the lot

PERMITTED, NOT BUILTLOT 59,525 SQ FT6
Drawn from PLUTO: 6 storeys, 117,570 sq ft of building on 59,525 sq ft of lot, an average floor plate covering 33% of it. PLUTO records 4 buildings on this lot, so the mass drawn is their combined floor area. The dashed outline is the difference between the floor area ratio already built (1.98) and the residential floor area ratio of the zoning district (3). It is a diagram of recorded figures, not a picture of the building.
Lot area
59,525 sq ft
Building area
117,570 sq ft
Residential area
117,570 sq ft
Commercial area
-
Office area
-
Retail area
-
Buildings on the lot
4
Built floor area ratio
1.98
Residential FAR permitted
3
Zoning district
R6A
03

Assessment

Assessed land value
$803,700
Assessed total value
$6,305,850
Exempt value
$6,305,850
Assessed per residential unit
$42,039

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
D9ELEVATOR APT; MISCELLANEOUS
Neighbourhood
Bedford-Stuyvesant (East)
ZIP code
11221
Community district
Brooklyn 3
Council district
36
Coordinates
40.687116, -73.940631
05

Other buildings in Bedford-Stuyvesant (East)

AddressClassRes. unitsBuiltTransfersMedian apartment, 5 yr
88 CHAUNCEY STREETD128719742-
721 WILLOUGHBY AVENUED626719761-
VERNON AVENUED626719760-
942 DEKALB AVENUED324819620-
FULTON STREETD124819800-
95 MARCUS GARVEY BLVDD323419510-
1100 MYRTLE AVENUERM23320220-
FULTON STREETD1213-0-
75 LEWIS AVENUED720520210-
510 QUINCY STREETD719219740-
113 LEWIS AVENUED318719640-
281 MARCUS GARVEY BLVDD117519723-

Every building on file in Bedford-Stuyvesant (East)