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1488 Lexington Avenue

Manhattan · Parcel 1016240014
0
Residential units
1930
Year built
1,911 sq ft
Building area
55
Open violations
$375,300
Assessed value

Analysis

AI-generated Risk: Low

The property carries low assessed risk but significant operational concerns and no income‑generating units, making it unattractive for investment without a clear redevelopment plan.

The good

  • assessed risk is low per city records
  • no enforcement penalties or safety violation debts
  • no legal proceedings on record
  • building is not over‑built for residential use

The bad

  • 55 open violations of consequence indicate ongoing compliance issues
  • 54 complaints suggest tenant or neighbor dissatisfaction
  • zero residential units means no rental income potential
  • last recorded sale price of 0 shows no arm‑length transaction, limiting price transparency

Written by a language model from this property's own figures — the same numbers shown on this page. It introduces no facts of its own: every figure it cites is checked against the data before the text is shown. It is a reading of the numbers, not a professional opinion, and it can be wrong about emphasis even when it is right about arithmetic. See our methodology.

What the numbers say

Generated from this property's own figures using the rules set out in our methodology. Every statement below refers to a number shown on this page.

Unused development capacity on the lot

Built floor-area ratio is 0.92 against a permitted 10.00, leaving 9.08 of unused ratio — roughly 18,832 sq ft of buildable area on a lot of 2,074 sq ft. Treat that as a ceiling under the floor-area rules, not a plan: height limits, setbacks, lot coverage, landmark status and sitting tenants can each reduce it, in some cases to nothing.

Unresolved conditions on record

55 violations remain open, against an outstanding penalty balance of $0.00. A significant open count with little money attached usually means habitability items that were never certified as corrected, rather than a few expensive enforcement actions — an administrative problem more than a financial one, though it is still a problem.

No arm's-length sale on record

The last recorded transfer is dated 9 Apr 2020 at a recorded price of $0. Transfers between related parties, estate settlements and corrective filings are legitimately recorded at nominal amounts, so this is neither an error nor a bargain — it means there is no usable sale price here, and every ratio derived from one (price per unit, price against assessed value) is therefore withheld rather than shown as zero.

Assessed value trend

Assessed value has risen 45.8% across the 5 assessment years on record (2023 to 2027), standing at $375,300. Because tax is levied on the assessed figure rather than on market value, a sustained move here tends to show up in the bill.

Development & zoning

Floor-area ratio

Built0.92
Residential limit10.00
Commercial limit0.00
Community-facility limit10.00

Development headroom (calculated) calculated

Highest permitted ratio10.00
Unused ratio9.08
Unused buildable area18,832 sq ft
Lot area2,074 sq ft

Value & taxes

Assessment

Assessed total$375,300
Assessed land$129,600
Assessed building$245,700
Market value on record$834,000
Assessed as % of market45.0%

Tax

Tax class4
Taxable assessed$306,720
Tax rate10.592%
Estimated annual levy$32,487.78

The levy is an estimate — taxable value × the published rate for the class. It does not account for exemptions or abatements the property may carry, and will not match an actual bill. It is not the property's total debt to the city: unpaid tax and water arrears are not shown anywhere on this page.

Assessed value by year

YearAssessed valueChange
2027$375,300—
2026$323,100+16.2%
2025$294,300+9.8%
2024$283,500+3.8%
2023$257,400+10.1%

Building & occupancy

Structure

Year built1930
Floors5
Building area1,911 sq ft
Residential area—
Commercial area1,911 sq ft

Occupancy

Total units4
Residential units0
Storefronts3
Commercial Avg unit size478 sq ft (calculated)
Building classK4

Neighborhood, risk & energy

Neighborhood & transit

Nearest subway96 St (6) — 0.03 mi
School district2
Police precinct23
Nearest firehouseEngine 53/Ladder 43 — 1836 Third Avenue

Location risk

Flood zoneMinimal hazard (Zone X)
Hurricane evacuation zoneNot in an evacuation zone
Evictions on record3 (most recent 2019)

Comparable sales

AddressSale datePriceSq ft$/sq ft
155 East 96 Street2026-05-19$9,375,00037,065$253
154 East 97th Street, 72024-11-14$369,000——
156 East 97th Street, 32023-05-16$206,000——
110 East 97th Street, 5012022-07-20$1,570,000——
154 East 97 Street, 152022-07-01$170,000——
156 East 97th Street2020-03-12$125,000——
154 East 97th Street, 142019-10-15$320,000——
156 East 97th Street, 142018-06-07$250,000——

Record activity

Compliance calculated

Open violations55
Open per residential unit—
Enforcement penalties$0.00
Safety-violation penaltiesNot available
Total penalties owed—
On tax-lien sale listNo

Activity

Complaints recorded54
Permits / alterations26
Recorded documents14
Legal proceedings0

Total penalties owed combines two separate debts — enforcement penalties (from summonses) and safety-violation penalties (unfiled inspections and reports on boilers, elevators, facades and energy use). The second kind accrues quietly and is routinely missed; it is a standing debt on the building, not a fine someone can walk away from. The safety figure could not be retrieved for this property, so no total is shown — we would rather show nothing than a total that silently omits it. Neither figure includes unpaid property tax or water and sewer arrears, which are frequently the largest number of all and appear nowhere on this page. For a true payoff figure, go to the city directly.

Ownership & last recorded sale

Owner of record

OwnerPelas Realty Corp..
Parcel1016240014
Block1624
Lot14

Last recorded transfer

Date9 Apr 2020
Recorded price$0
Price per unitNot meaningful
Price vs assessedNot meaningful

Owner of record comes from the public land-use record and may lag a recent sale. It is frequently a holding company rather than an individual. If you own or manage this property and believe something here is wrong, tell us — we read and respond to every message of that kind.

Open violations

Open violations only. A violation that was raised and later corrected is not counted — an older building accumulates hundreds of those, and the number says more about its age than its condition.

IssuedCategoryClassStatusAmount dueDescription
29 Apr 2026HousingANOV SENT OUT—A) § HMC:FILE ANNUAL BEDBUG REPORT IN ACCORDANCE WITH Housing RULE AS DESCRIBED ON THE BACK OF THIS NOTICE OF VIOLATION OR AS DESCRIBED ON HPDS WEBSITE, WWW.NYC.GOV\Housing, SEARCH BED BUGS
22 Nov 2023Building—V-Building VIOLATION - ACTIVE—FAILURE TO CERTIFY CORRECTION ON IMMEDIATELY HAZARDOUS (CLASS 1) Enforcement VIOLATION
22 Nov 2023BuildingAEUHAZActive—FTC-AEU-HAZ
8 Sep 2023Building—V-Building VIOLATION - ACTIVE—PROVIDE SIDEWALK SHED AT FRONT OF THE BUILDING APPROX. 80 LINEAR FEET ON EAST 96 STREET AND 26 FEET ON LEXINGTON AVENUE TO SAFEQUARD THE PUBLIC
19 Jul 2023EnforcementCLASS - 1ACTIVE—FAILURE TO MAINTAIN BUILDING IN A CODE-COMPLIANT MANNER. AT THE TIME OF INSPECTION, I OBSERVED FACADE AND CHIMNEYS IN STATE OF DISREPAIR. MULTIPLE STEP CRACKS ABOVE SECOND AND THIRD FLOOR WINDOWS. LOOSE BRICKS
27 Aug 2013HousingIINFO NOV SENT OUT—SECTION 27-2089 ADM CODE ABOVE PREMISES HAVE BEEN VACANT AND UNTENANTED EXCEPT FOR CARETAKER FOR 60 DAYS OR MORE, AND CANNOT BE REOCCUPIED UNTIL A NEW CERTIFICATE OF OCCUPANCY HAS BEEN OBTAINED. PREMISES HAVE BEEN VACANT SINCE 05/29/1985 AND STILL VACANT ON 08/27/2013
20 May 2012HousingIFIRST NO ACCESS TO RE- INSPECT VIOLATION—SECTION 27-2089 ADM CODE ABOVE PREMISES HAVE BEEN VACANT AND UNTENANTED EXCEPT FOR CARETAKER FOR 60 DAYS OR MORE, AND CANNOT BE REOCCUPIED UNTIL A NEW CERTIFICATE OF OCCUPANCY HAS BEEN OBTAINED. PREMISES HAVE BEEN VACANT SINCE 03/28/1985 AND STILL VACANT ON 05/20/2012
24 Apr 2012EnforcementCLASS - 1ACTIVE—FAILURE TO MAINTAIN BUILDING IN CODE COMPLIANT MANNER. DEFECT NOTED:ATEXPOSURE ONE BY WEST CORNER FIRST FLR BY STORE AWNING THEY HAVE LOOSE BENCHES IN DANGER OF FALLING AT REAR SOUTH AREA WERE ALL SHAFT IS LOCA
18 Jan 2012EnforcementCLASS - 3ACTIVE—FAILURE TO MAINTAIN BUILDING IN CODE MANNER. DEFECT NOTED:ON EXPOSURE 2 & EXPOSURE 3 MASONARY MOARTAR JOINTS POPING OUT & FALLING TO ADJACENT PROPERTY CHURCH & BUILDINGS COURT YARD ON THIRD FLOOR. REM:REPAIR
13 Dec 2011BuildingBoilerActive—VIOLATION ISSUED FOR FAILURE TO FILE ANNUAL BOILER 2010 INSPECTION REPORT
29 Nov 2011EnforcementCLASS - 2ACTIVE—FAILURE TO COMPLY WITH THE COMMISSIONER'S ORDER TO FILE A CERTIFICATE OF CORRECTION WITH THE DEPT OF BLDGS. DEFECT NOTED:AT TIME OF INSPECTION NO CERTIFICATE OF CORRECTION HAS BEEN FILED WITH THE DEPT FOR NOV
29 Nov 2011EnforcementCLASS - 2ACTIVE—FAILURE TO MAINTAIN BUILDING WALL(S) OR APPURTENANCES.DEFECTS NOTED:ATTIME OF INSPECTION METAL COVER OVER WINDOW AT EXPOSURE #4,NORTH WALL IS LOOSE AND HANGING ABOVE 3RD FLR SET BACK MECHANICAL ROOF OF 1500 L
4 Mar 2011EnforcementCLASS - 1ACTIVE—DEFECTS NOTED AT TIME OF INSP THERE IS LOOSE SPALLING BRICK AT REAR OF BLDG EXP#3 FALLING DOWN TO 3RD FL TERRACES AND SET BRICK MECHANICAL ROOF DECORATIVE CORNICE AT TOP OF BLDG HAS BROKEN LOOSE CAPPING A 6'IN
31 Dec 2009BuildingBoilerActive—LBLVIO
27 Jan 2009EnforcementCLASS - 2ACTIVE—POSTING OF PERMIT & THE BLDG PERMIT OF COPY SHALL BE POSTED IN A CONSPICIOUS PLACE AT THE WORK SITE VISIBLE TO THE PUBLIC FOR THE DURATION OF THE WORK OR THE USE AND OPERATION OF THE EQUIPMENT OR UNTIL NO INFO
1 Jan 2009Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
1 Jan 2009BuildingBoilerActive—a local law
13 Aug 2008EnforcementCLASS - 2ACTIVE—SIDEWALK SHED DOES NOT MEET CODE SPECIFICATIONS. NOTED: SHED PRESENT APPRX 200FEET WHICH WRAPS AROUND THE CORNER OF 96ST HAS LIGHT FIXTURES W/ NO ILLUMINATION (EVENING INSPECTION
6 Aug 2008HousingCFIRST NO ACCESS TO RE- INSPECT VIOLATION—D26-13.03 ADM CODE ABATE THE NUISANCE CONSISTING OF RODENTS CELLAR THRU OUT
6 Aug 2008HousingCFIRST NO ACCESS TO RE- INSPECT VIOLATION—D26-13.03 ADM CODE ABATE THE NUISANCE CONSISTING OF RODENTS 1ST STY PUB HALL AT WEST & STAIRS TO CELLAR RAT EXCRETA
22 Jun 2008EnforcementHazardousACTIVE—FAILURE TO MAINTAIN EXT BLDG WALLS NOTED: AT ROOF OF BLDG CHIMNEY IS DEFECTIVE BRICKS ARE LOOSE AND FALLING ON TEMP ADJ PROPERTY ALSO EXT BLDG WALLS 3RD TO 5TH FLR ARE BULGING AND CRACKS AT PROPERTY LEVEL. REME
3 Jan 2008Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
3 Jan 2008BuildingBoilerActive—a local law
19 Jan 2007Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
19 Jan 2007BuildingBoilerActive—a local law
18 Sep 2006EnforcementHazardousACTIVE—FAILURE TO MAINTAIN EXTERIOR.DEFECT NOTED:AT ROOF LEVEL ORNAMENTAL (TIN)CORNICE HAS MISSING SECTIONS AT EAST EXPOSURE & HANGING SECTIONS. ATSOUTH WEST CORNER CORNICE HAS SEPARATED AWAY FROM BLDG PARAPET
6 Jan 2006Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
6 Jan 2006BuildingBoilerActive—a local law
31 Jan 2005Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
31 Jan 2005BuildingBoilerActive—a local law
13 Feb 2004Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
13 Feb 2004BuildingBoilerActive—a local law
19 Mar 2003Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
19 Mar 2003BuildingBoilerActive—a local law
26 Mar 2002Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
26 Mar 2002BuildingBoilerActive—a local law
27 Feb 2001Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
27 Feb 2001BuildingBoilerActive—a local law
7 Feb 2000Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
7 Feb 2000BuildingBoilerActive—a local law
16 Mar 1999Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
16 Mar 1999BuildingBoilerActive—a local law
4 May 1998Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
4 May 1998BuildingBoilerActive—a local law
16 Sep 1997Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
16 Sep 1997BuildingBoilerActive—a local law
10 Feb 1997Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
10 Feb 1997BuildingBoilerActive—a local law
29 Aug 1995Building—V-Building VIOLATION - ACTIVE—a local law-a local law/91 - BOILERS BOILER REQUIRED
29 Aug 1995BuildingBoilerActive—a local law

Showing the 50 most recent of 55. The full set is available in the interactive report.

Complaints

A complaint is an allegation, not a finding — many are dismissed. A sustained pattern is nevertheless informative about how a building is run.

DateProblemTypeStatusClosed
18 Aug 2026Non-ChronicHomeless Person AssistanceClosed19 Aug 2026
30 May 2026Non-ChronicHomeless Person AssistanceClosed31 May 2026
19 May 2026Non-ChronicHomeless Person AssistanceClosed19 May 2026
2 Mar 2026Catch Basin Sunken/Damaged/Raised (SC1SewerAssigned—
8 Oct 2025Sales to Minors Under 21Cannabis RetailerClosed18 Nov 2025
31 Jul 2025Blocked Bike LaneIllegal ParkingClosed31 Jul 2025
14 Jun 2025Loud Music/PartyNoise - Street/SidewalkClosed14 Jun 2025
31 Dec 2024Condition Attracting RodentsRodentClosed31 Dec 2024
1 Oct 2024Noise: Construction Before/After Hours (NM1NoiseClosed2 Oct 2024
15 Aug 2024TrashDirty ConditionClosed16 Aug 2024
17 Jul 2024Bodega, Deli, or Convenience StoreConsumer ComplaintClosed9 Aug 2024
30 May 2024Food ProtectionFood EstablishmentClosed10 Jan 2025
12 Apr 2024TrashDirty ConditionClosed12 Apr 2024
11 Jan 2024Bodega, Deli, or Convenience StoreConsumer ComplaintClosed12 Jan 2024
28 Dec 2023Driver Complaint - Non PassengerFor Hire Vehicle ComplaintClosed30 Mar 2024
10 Nov 2023TrashDirty ConditionClosed11 Nov 2023
4 Nov 2023Noise: Construction Before/After Hours (NM1NoiseClosed9 Nov 2023
10 Sep 2023Material Storage - UnsafeGeneral Construction/PlumbingClosed11 Sep 2023
20 Aug 2023Driver Complaint - Non PassengerTaxi ComplaintClosed2 Nov 2023
17 Aug 2023Trash or RecyclingObstructionClosed18 Aug 2023
29 Jul 2023N/APanhandlingClosed29 Jul 2023
23 Jun 2023—Homeless Person AssistanceClosed23 Jun 2023
16 Apr 2023Bodega/Deli/SupermarketConsumer ComplaintClosed18 Apr 2023
22 Mar 2023OverflowingLitter Basket ComplaintClosed15 Apr 2023
2 Nov 2022Noise: Construction Before/After Hours (NM1NoiseClosed2 Nov 2022
30 Aug 2022N/APanhandlingClosed30 Aug 2022
29 Aug 2022No Private CarterCommercial Disposal ComplaintClosed6 Sep 2022
10 Jul 2022—Homeless Person AssistanceClosed10 Jul 2022
23 Apr 2022BirdDead AnimalClosed26 Apr 2022
2 Apr 2022PotholeStreet ConditionClosed3 Apr 2022
2 Dec 2021VentilationFood EstablishmentClosed3 Jun 2024
2 Dec 2021OdorFood EstablishmentClosed3 Jun 2024
2 Dec 2021Vent/Exhaust - Illegal/ImproperGeneral Construction/PlumbingClosed2 Mar 2022
10 Nov 2021Sidewalk CollapsedSidewalk ConditionClosed19 Nov 2021
2 Jun 2021Sidewalk CollapsedSidewalk ConditionClosed3 Jun 2021
2 Jun 2021Broken SidewalkSidewalk ConditionClosed29 Jun 2021
24 Mar 2021—Homeless Person AssistanceClosed24 Mar 2021
17 Jan 2021—Homeless Person AssistanceClosed18 Jan 2021
17 Dec 2020Parking Permit Improper UseIllegal ParkingClosed17 Dec 2020
27 Sep 2020Car/Truck HornNoise - VehicleClosed27 Sep 2020
15 Sep 2020Blocked HydrantIllegal ParkingClosed15 Sep 2020
3 Aug 2020Business not in complianceNonCompliance with Phased ReopeningClosed7 Aug 2020
18 Jul 2020Pedestrian Ramp DefectiveSidewalk ConditionClosed22 Jul 2020
13 Jul 2020N/AUrinating in PublicClosed13 Jul 2020
13 Jul 2020Business not in complianceNonCompliance with Phased ReopeningClosed22 Oct 2020
6 Jul 2020Air: Odor/Fumes, Restaurant (AD2Air QualityClosed7 Jul 2020
5 Jul 2020N/AHomeless Person AssistanceClosed5 Jul 2020
12 Jun 2020Broken CurbCurb ConditionClosed24 Jun 2020
10 Jun 2020Face Covering ViolationNon-Emergency Police MatterClosed10 Jun 2020
4 Jun 2020Social DistancingNon-Emergency Police MatterClosed4 Jun 2020

Showing the 50 most recent of 54. The full set is available in the interactive report.

Permits & alterations

The absence of a permit does not prove no work was done — it may equally mean work was done without one.

IssuedTypeStatusWork
13 Oct 2023Supported ScaffoldPermit IssuedINSTALLATION OF TEMPORARY PIPE SCAFFOLD AS PER DRAWINGS. SCAFFOLD SHALL COMPLY WITH CH #33 OF THE NYC BC. NO CHANGE IN USE, OCCUPANCY OR EGRESS UNDER THIS APPLICATION.SIDEWALK SHED FILED ON A SEPARATE APPLICATION
25 Sep 2023Sidewalk ShedSigned-offHEAVY DUTY SIDEWALK SHED AS PER PLANS. NO CHANGE IN USE, EGRESS OR OCCUPANCY UNDER THIS APPLICATION. SIDEWALK SHED SHALL COMPLY WITH CHAPTER 33 OF THE 2022 BUIILDING CODE
2 May 2022General ConstructionSigned-offINSTALLING DROP CEILING AND INTERIOR PARTITION WALL AS PER PLAN. NO CHANGE IN USE , EGRESS OR OCCUPANCY WITH THIS APPLICATION
3 May 2016A2ISSUED—
25 Apr 2011A3ISSUED—
25 Apr 2011A3ISSUED—
28 Mar 2011A2ISSUED—
28 Mar 2011A2ISSUED—
10 Mar 2009A3ISSUED—
10 Mar 2009A3ISSUED—
22 Apr 2008A3ISSUED—
22 Apr 2008A3ISSUED—
22 Apr 2008A3ISSUED—
22 Apr 2008A3ISSUED—
30 Oct 1995A2ISSUED—
30 Oct 1995A2ISSUED—
3 Oct 1995A2ISSUED—
3 Oct 1995A2ISSUED—
19 Sep 1995A2ISSUED—
19 Sep 1995A2ISSUED—
24 Aug 1995A2ISSUED—
29 Aug 1994A2ISSUED—
5 Feb 1991A2ISSUED—
5 Feb 1991A2ISSUED—
18 Sep 1990A2ISSUED—
18 Sep 1990A2ISSUED—

Recorded documents

Deeds, mortgages and related instruments recorded against the lot. A recorded amount is not necessarily a market price.

RecordedTypeAmountFromTo
9 Apr 2020Deed———
22 Jan 2020Deed———
15 Jun 1984Satisfaction of mortgage———
27 Apr 1984Satisfaction of mortgage———
11 Aug 1977Assignment———
9 Aug 1976Mortgage———
21 Dec 1972Mortgage———
19 Dec 1972PAT———
19 Dec 1972Assignment———
19 Dec 1972Mortgage———
19 Dec 1972Deed———
5 Apr 1968Agreement———
5 Apr 1968Assignment———
5 Apr 1968PAT———

About this page

Compiled from New York City public records — retrieved today. Coverage on this parcel: 15 of 15 record groups populated. The derived figures — unused floor-area ratio, buildable area, the assessed-value trend and the per-unit ratios — are calculated by us and appear in no public dataset; the formulas are in the methodology.

This is a research tool, not advice. It is not a title search, a lien search, a survey or an inspection, and it does not replace any of them. If a figure here matters to a decision, verify it at the source. See Terms.