887 Park Place

Brooklyn · Parcel 3012340056

Residential units

1893

Year built

3,840 sq ft

Building area

Open violations

$123,780

Assessed value

Analysis

AI-generated Risk: Medium

The property offers historic appeal and strong market valuation, but the high number of open violations and lack of recent arm‑length sale create moderate risk for investors.

The good

Historic building (built 1893) may appeal to niche renters
Market value on record ($2,063,000) far exceeds assessed value, indicating equity potential
No enforcement penalties on record
No legal proceedings and not on tax lien list

The bad

Six open violations (three per residential unit) signal compliance risk
Seven complaints filed with city records
No arm‑length sale; last recorded sale price was $0, so recent market price is unknown
Only two residential units in a 3‑story building limits cash flow

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 1.47 against a permitted 4.80, leaving 3.33 of unused ratio — roughly 8,698 sq ft of buildable area on a lot of 2,612 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.

A heavy load of unresolved conditions

6 violations are open across 2 residential units — roughly 3.0 per apartment. Outstanding penalties come to only $0.00, so this is not primarily a financial exposure: it is a maintenance one. A density at this level points to conditions that are being reported and not resolved, which is one of the more reliable signals of how a building is actually run.

No arm's-length sale on record

The last recorded transfer is dated 9 Aug 2004 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 4.0% across the 5 assessment years on record (2023 to 2027), standing at $123,780. 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

Built	1.47
Residential limit	2.43
Commercial limit	0.00
Community-facility limit	4.80

Development headroom (calculated) calculated

Highest permitted ratio	4.80
Unused ratio	3.33
Unused buildable area	8,698 sq ft
Lot area	2,612 sq ft

Landmarked — Individual Landmark + Historic District

Historic district	Crown Heights North II Historic District
Designated	15 Aug 1893

Landmark status restricts exterior alterations and may require city approval for any work — a real constraint on both cost and timeline.

Value & taxes

Assessment

Assessed total	$123,780
Assessed land	$26,940
Assessed building	$96,840
Market value on record	$2,063,000
Assessed as % of market	6.0%

Tax

Tax class	1
Taxable assessed	$33,535
Tax rate	20.085%
Estimated annual levy	$6,735.50

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

Year	Assessed value	Change
2027	$123,780	—
2026	$121,260	+2.1%
2025	$122,880	-1.3%
2024	$144,060	-14.7%
2023	$118,980	+21.1%

Building & occupancy

Structure

Year built	1893
Floors	3
Building area	3,840 sq ft
Residential area	2,820 sq ft
Commercial area	—

Occupancy

Total units	2
Residential units	2
Residential Avg unit size	1,410 sq ft (calculated)
Building class	B1

Record activity

Compliance calculated

Open violations	6
Open per residential unit	3.0 (calculated)
Enforcement penalties	$0.00
Safety-violation penalties	Not available
Total penalties owed	—
On tax-lien sale list	No

Activity

Complaints recorded	8
Permits / alterations	0
Recorded documents	11
Legal proceedings	0

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

Owner	Varsier Murray, Ana
Parcel	3012340056
Block	1234
Lot	56

Last recorded transfer

Date	9 Aug 2004
Recorded price	$0
Price per unit	Not meaningful
Price vs assessed	Not 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.

Issued	Category	Class	Status	Amount due	Description
6 Jun 2007	Housing	B	NOV SENT OUT	—	SECTION 27-2005 ADM CODE REPAIR THE BROKEN OR DEFECTIVE PLASTERED SURFACES AND PAINT IN A UNIFORM COLOR CEILING IN THE 1st ROOM FROM NORTH LOCATED AT APT 3FL, 3rd STORY
6 Jun 2007	Housing	B	NOV SENT OUT	—	SECTION 27-2005 ADM CODE PROPERLY REPAIR THE BROKEN OR DEFECTIVE CEILING LIGHT FIXTURE IN THE 1st LIVING ROOM FROM NORTH LOCATED AT APT 3FL, 3rd STORY
6 Jun 2007	Housing	B	NOV SENT OUT	—	SECTION 27-2005 ADM CODE & 309 M/D LAW ABATE THE NUISANCE CONSISTING OF EXPOSED WIIRE AT ELECTRIC FIXTURE AT WEST WALL IN THE KITCHEN LOCATED AT APT 3FL, 3rd STORY
6 Jun 2007	Housing	B	NOV SENT OUT	—	SECTION 27-2005 ADM CODE REPAIR THE ROOF SO THAT IT WILL NOT LEAK AT CEILING IN THE KITCHEN LOCATED AT APT 3FL, 3rd STORY
6 Jun 2007	Housing	B	NOV SENT OUT	—	SECTION 27-2045 ADM CODE REPAIR OR REPLACE THE SMOKE DETECTOR MISSING IN THE ENTIRE APARTMENT LOCATED AT APT 3FL, 3rd STORY
6 Jun 2007	Housing	B	NOV SENT OUT	—	SECTION 27-2046.1, 2046.2 HMC: PROVIDE AN APPROVED AND OPERATIONAL CARBON MONOXIDE DETECTING DEVICE, INSTALLED IN ACCORDANCE WITH APPLICABLE LAW AND RULES. IN THE ENTIRE APARTMENT LOCATED AT APT 3FL, 3rd STORY

Complaints

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

Date	Problem	Type	Status	Closed
13 Jul 2026	Clear Street Light	Overgrown Tree/Branches	In Progress	—
17 May 2026	Blocking Street	Overgrown Tree/Branches	In Progress	—
14 Apr 2025	Loud Music/Party	Noise - Street/Sidewalk	Closed	14 Apr 2025
15 Jan 2025	Derelict Vehicles	Derelict Vehicles	Closed	16 Jan 2025
26 Apr 2023	Spilled Garbage	Sanitation Worker or Vehicle Complaint	Closed	1 May 2023
19 Apr 2023	Spilled Garbage	Sanitation Worker or Vehicle Complaint	Closed	24 Apr 2023
12 Mar 2021	Rat Sighting	Rodent	Closed	12 Mar 2021
14 Nov 2020	LOW WATER PRESSURE - WLWP	Water System	Closed	21 Nov 2020

Recorded documents

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

Recorded	Type	Amount	From	To
5 May 2021	LDMK	—	—	—
6 Mar 2017	Assignment	—	—	—
6 Mar 2017	Mortgage	$48,001	—	—
6 Mar 2017	Agreement	$180,500	—	—
9 Aug 2004	Mortgage	$194,000	—	—
9 Aug 2004	Deed	—	—	—
15 Jul 1996	Satisfaction of mortgage	—	—	—
10 Jul 1996	Mortgage	$184,500	—	—
10 Jul 1996	Deed	—	—	—
21 Jun 1993	Deed	—	—	—
12 Mar 1984	Deed	—	—	—

About this page

Compiled from New York City public records — data retrieved 29 days ago. 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.

NYC property intelligence — built for investors

Every NYC property signal, in one place.

Search any address or BBL and get a complete due-diligence report in seconds — ownership, valuation, taxes, liens, violations, permits, zoning and more.

NYC properties

report sections

to first insight

Manhattan Bronx Brooklyn Queens Staten Island

Ownership & Management

Identify the registered owner, holding LLC, and managing agent of any NYC building, with the registration contacts on file for the property.

Sales & Title Documents

Full deed and sale history with recorded mortgages and assignments — see who bought, sold, and financed the property and when.

Valuation & Assessment

Market value and assessed value with year-over-year history, tax class, and exemptions — how the city values the property.

Property Taxes & Liens

Annual tax levy, assessment, and rate history, plus any tax-lien-sale or water/sewer-debt flags signaling financial distress.

Housing Violations

Open and historical housing-maintenance violations — heat, hot water, mold, pests, lead, and habitability conditions on record.

Building Violations

Building and construction-code violations — illegal work, unsafe conditions, facade and elevator issues, and stop-work orders.

Enforcement & Penalties

Enforcement summonses, hearings, and monetary penalties — outstanding fines and the respondent named on each case.

Complaints

Tenant and building complaints over time — heat/hot-water outages, illegal construction, and unsafe-condition reports.

Permits & Construction

Construction permits, alteration filings, and job status — what work has been filed, approved, or completed at the property.

Litigation & Legal

Housing-court cases and legal proceedings against the owner — a major red flag when assessing investment risk.

Zoning & Land Use

Zoning district, overlays, land-use category, lot dimensions, and floor-area ratio (FAR) — what the lot is and what it allows.

Development & Air Rights

Buildable floor area, FAR used versus allowed, and unused development rights — gauge expansion and air-rights potential.

Occupancy & Units

Residential and commercial unit counts, building-area mix, number of floors, and year built — the physical makeup of the property.

Landmark & Historic

Individual-landmark and historic-district designation — whether status affects renovation, permits, and development plans.

Risk Profile

A composite read combining open violations, liens, litigation, and watch-list status into clear red-flag distress signals.

The data is public. Reading it correctly is the hard part.

Three things in a New York City property record mislead almost everyone who reads one for the first time. Here they are, before you search.

A $0 sale is not a bargain

Recorded transfers include deeds between family members, estate settlements and corrective filings — all legitimately recorded at $0 or a nominal $10. It does not mean the building was given away. It means there has been no arm's-length sale, and that every price ratio derived from it is meaningless.

A violation count means nothing until you divide it

We show open violations only — a closed one is a problem that got fixed, and every old building has hundreds. But even the open count is close to meaningless on its own. Three hundred open violations across three hundred apartments is a different building from three hundred across thirty. Divide by the units, then read the outstanding balance — a heavy count with no money attached means conditions are being reported and not corrected.

Spare floor area may not be buildable

Zoning sets a different limit for residential, commercial and community-facility use. Comparing a building against the highest number in that row — rather than the limit for the use you actually intend — is the most expensive mistake in this data. Buildings that look like they have room to grow are frequently already over their residential limit.

And the numbers no one publishes

Unused floor-area ratio. Buildable square footage. The direction assessed value has moved over the last decade. Price per unit against the last real sale. None of these exist in any public dataset — we calculate them, and we show the formula for every one.

Read the methodology →

Start here

We walk through one real building — a 1910 walk-up in upper Manhattan — and show exactly where its numbers mislead you, and what they actually say.

How to read a report → Glossary of terms → FAQ → About this site →