Searching…

2-21 Malt Drive

Queens · Parcel 4000110001
812
Residential units
2022
Year built
842,064 sq ft
Building area
5
Open violations
$79,386,750
Assessed value

Analysis

AI-generated Risk: Medium

The property offers modern construction and strong equity but is constrained by over‑building and lacks a recent arm‑length sale, making it a moderate‑risk acquisition.

The good

  • Built in 2022, so the structure and systems are brand new.
  • Market value on record of $176,415,000 far exceeds the assessed value of $79,386,750, indicating strong equity.
  • Only one safety‑violation debt of $500 and no enforcement penalties, suggesting limited hidden financial risk.
  • Zero open violations per residential unit shows good compliance relative to the size of the building.

The bad

  • Construction exceeds the residential floor‑area limit (built FAR 6.43 vs limit 5), meaning the building is over‑built and cannot be expanded.
  • No arm‑length sale recorded (last sale price $0), so there is no recent market transaction to confirm value.
  • Five open violations remain, and a safety‑violation penalty of $500 is still owed.
  • Unused buildable square footage of 9,164 sq ft highlights the over‑built constraint.

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.

Already larger than residential zoning would allow

The building occupies a floor-area ratio of 6.43, against a residential limit of 5.00 — it is over that limit by 1.43. A building in this position almost always predates the current rules and is legally non-conforming: it may generally remain, but it typically cannot be enlarged for residential use, and it may not be rebuildable as it stands. A higher limit of 6.50 does apply to community-facility use, which produces an apparent 9,164 sq ft of headroom — but that is not residential floor area and is not interchangeable with it. Reading that number as room for more apartments is the most expensive mistake available in this data.

A light open-violation load

Only 5 violations are currently open across 812 residential units, with $0.00 outstanding. For a building of this age that is a modest figure.

No arm's-length sale on record

The last recorded transfer is dated 18 Jan 2023 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 2,280.4% across the 5 assessment years on record (2023 to 2027), standing at $79,386,750. 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

Built6.43
Residential limit5.00
Commercial limit0.00
Community-facility limit6.50

Development headroom (calculated) calculated

Highest permitted ratio6.50
Unused ratio0.07
Unused buildable area9,164 sq ft
Lot area130,916 sq ft

Value & taxes

Assessment

Assessed total$79,386,750
Assessed land$4,335,300
Assessed building$75,051,450
Market value on record$176,415,000
Assessed as % of market45.0%

Tax

Tax class2
Taxable assessed$79,386,750
Tax rate12.502%
Estimated annual levy$9,924,931.49
Tax exemption (assessed value)421-a — $77,276,691 (through 2061)

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$79,386,750
2026$70,541,550+12.5%
2025$30,082,500+134.5%
2024$4,335,300+593.9%
2023$3,335,015+30.0%

Building & occupancy

Structure

Year built2022
Floors39
Building area842,064 sq ft
Residential area811,078 sq ft
Commercial area30,986 sq ft

Occupancy

Total units818
Residential units812
Rent-stabilized801
Free Market / Other11
Storefronts6
Residential Avg unit size999 sq ft (calculated)
Commercial Avg unit size5,164 sq ft (calculated)
Building classD6

Neighborhood, risk & energy

Neighborhood & transit

Nearest subwayVernon Blvd-Jackson Av (7) — 0.3 mi
School district30
Police precinct108
Nearest firehouseEngine 258/Ladder 115 — 10-40 47th Ave.

Location risk

Flood zoneHigh-risk (Zone AE)
Hurricane evacuation zoneZone 1
Projected floodplainIn the projected 2050s floodplain
Environmental restrictionHazardous materials, air quality, noise
Cleanup siteVoluntary cleanup site (completed)

Record activity

Compliance calculated

Open violations5
Open per residential unit0.0 (calculated)
Enforcement penalties$0.00
Safety-violation penaltiesNot available
Total penalties owed$500.00 (calculated)
On tax-lien sale listNo

Activity

Complaints recorded104
Permits / alterations76
Recorded documents46
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

OwnerBud North LLC
Parcel4000110001
Block11
Lot1
Mortgage on record$358,863,110 (2023) — Wells Fargo Bank, National Association
Fixture liens5 active fixture liens

Last recorded transfer

Date18 Jan 2023
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
30 Jul 2026HousingANOV SENT OUT329, M/D LAW AND DEPT. RULES AND REGS. PROVIDE A COMPLETED CERTIFICATE OF INSPECTION VISITS IN A PROPER FRAME READILY ACCESSIBLE FOR SIGNATURE, BOTTOM EDGE OF FRAME BETWEEN 48-62 INCHES ABOVE FLOOR AT AT PUBLIC HALL, 1st STORY
25 Aug 2023BuildingElevatorsActiveViolation Issued-Failure To File 2022 Periodic Inspection Report
11 Aug 2023BuildingElevatorsActiveViolation Issued-Failure To File 2021 Cat1 Test Report
11 Aug 2023BuildingElevatorsActiveViolation Issued-Failure To File 2022 Cat1 Test Report
15 Mar 2019BuildingV-Building VIOLATION - ACTIVEE-ELEVATOR ELEVATORREQUIRED

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
4 Aug 2026GARBAGE/RECYCLING STORAGEUNSANITARY CONDITIONOpen
30 Jul 2026Lead KitLeadClosed31 Jul 2026
19 Jul 2026Other (Explain BelowIndoor Air QualityClosed21 Jul 2026
5 Jul 2026Other (complaint detailsAnimal-AbuseClosed5 Jul 2026
3 Jul 2026GARBAGE/RECYCLING STORAGEUNSANITARY CONDITIONOpen
1 Jul 2026GARBAGE/RECYCLING STORAGEUNSANITARY CONDITIONOpen
29 Jun 2026GARBAGE/RECYCLING STORAGEUNSANITARY CONDITIONOpen
22 Jun 2026Partial AccessBlocked DrivewayClosed22 Jun 2026
18 Jun 2026Blocked SidewalkIllegal ParkingClosed18 Jun 2026
16 Jun 2026Partial AccessBlocked DrivewayClosed16 Jun 2026
7 Jun 2026Other (complaint detailsAnimal-AbuseClosed7 Jun 2026
6 Jun 2026NeglectedAnimal-AbuseClosed7 Jun 2026
6 Jun 2026Noise, Barking Dog (NR5NoiseClosed9 Jun 2026
25 May 2026Posted Parking Sign ViolationIllegal ParkingClosed25 May 2026
25 May 2026No AccessBlocked DrivewayClosed25 May 2026
22 May 2026Unleashed Dog in PublicUnleashed DogClosed2 Jun 2026
18 May 2026Boiler - Defective/Inoperative/No PermitBoilersClosed8 Jun 2026
3 May 2026Posted Parking Sign ViolationIllegal ParkingClosed3 May 2026
1 May 2026Posted Parking Sign ViolationIllegal ParkingClosed2 May 2026
28 Apr 2026Posted Parking Sign ViolationIllegal ParkingClosed29 Apr 2026
28 Apr 2026Posted Parking Sign ViolationIllegal ParkingClosed28 Apr 2026
26 Apr 2026Posted Parking Sign ViolationIllegal ParkingClosed27 Apr 2026
11 Apr 2026Posted Parking Sign ViolationIllegal ParkingClosed11 Apr 2026
6 Apr 2026No Parking, Standing, StoppingStreet Sign - MissingIn Progress
31 Mar 2026Noise, Barking Dog (NR5NoiseClosed1 Apr 2026
31 Mar 2026Work Without A Permit - Occupied Multiple DwellingReal Time EnforcementClosed31 Mar 2026
26 Mar 2026Banging/PoundingNoise - ResidentialClosed26 Mar 2026
24 Mar 2026Work Without A Permit - Occupied Multiple DwellingReal Time EnforcementClosed25 Mar 2026
24 Mar 2026Banging/PoundingNoise - CommercialClosed24 Mar 2026
24 Mar 2026Noise: Construction Equipment (NC1NoiseClosed25 Mar 2026
8 Mar 2026Lead Kit Request (Residential) (L10LeadClosed9 Mar 2026
29 Jan 2026Pedestrian FeatureSnow or IceClosed30 Jan 2026
28 Jan 2026Blocked CrosswalkIllegal ParkingClosed28 Jan 2026
12 Jan 2026Loud Music/PartyNoise - ResidentialClosed12 Jan 2026
3 Jan 2026Blocked SidewalkIllegal ParkingClosed3 Jan 2026
10 Dec 2025Posted Parking Sign ViolationIllegal ParkingClosed10 Dec 2025
1 Dec 2025Double Parked Blocking TrafficIllegal ParkingClosed2 Dec 2025
22 Oct 2025Commercial Overnight ParkingIllegal ParkingClosed22 Oct 2025
4 Oct 2025Sign/Awning/Marquee - Illegal/No PermitSpecial Projects Inspection Team (SPITOpen4 Oct 2025
4 Oct 2025Blocked SidewalkIllegal ParkingClosed4 Oct 2025
23 Sep 2025Posted Parking Sign ViolationIllegal ParkingClosed23 Sep 2025
23 Sep 2025Posted Parking Sign ViolationIllegal ParkingClosed23 Sep 2025
20 Sep 2025Parking Permit Improper UseIllegal ParkingClosed20 Sep 2025
19 Sep 2025Posted Parking Sign ViolationIllegal ParkingClosed19 Sep 2025
19 Sep 2025Blocked SidewalkIllegal ParkingClosed19 Sep 2025
15 Sep 2025Air: Dust, Construction/Demolition (AE4Air QualityClosed16 Sep 2025
5 Sep 2025Posted Parking Sign ViolationIllegal ParkingClosed5 Sep 2025
5 Sep 2025Food VendorVendor EnforcementClosed5 Sep 2025
18 Aug 2025Posted Parking Sign ViolationIllegal ParkingClosed18 Aug 2025
1 Aug 2025Car/Truck HornNoise - VehicleClosed2 Aug 2025

Showing the 50 most recent of 104. 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
1 Oct 2025Suspended ScaffoldSigned-offUse of existing window washing and Davit equipment with suspended scaffold for facade cleaning and installations as per plans filed herewith. No change in use, egress, or occupancy
28 Aug 2025PlumbingSigned-offPLUMBING FIXTURES INSTALLATION FOR THE COMMERCIAL SPACE ON THE 1ST FLOOR AS PER PLANS FILED HEREWITH. NO CHANGE TO USE, EGRESS OR OCCUPANCY
16 Jul 2025SprinklersSigned-offSPRINKLER SYSTEM MODIFICATION FOR THE COMMERCIAL SPACE ON 1ST FLOOR AS PER PLANS FILED HEREWITH. NO CHANGE TO USE, EGRESS OR OCCUPANCY
11 Jul 2025General ConstructionSigned-offCOMMERCIAL SPACE RENOVATION ON 1ST FLOOR AS PER PLANS FILED HEREWITH. NO CHANGE TO USE, EGRESS OR OCCUPANCY
10 Jul 2025Mechanical SystemsSigned-offHVAC UNITS, HEATER AND FANS INSYTALLATION FOR THE COMMERCIAL SPACE ON 1ST FLOOR AS PER PLANS FILED HEREWITH. NO CHANGE OT USE, EGRESS OR OCCUPANCY
6 Feb 2025SprinklersSigned-offInstallation of sprinkler / standpipe system in conjunction with NB Construction. NB Filed under 421133632
31 Jan 2025StandpipeSigned-offApplication filed for temporary standpipe in conjunction with NB Construction. NB Filed under 421133632 (NORTH SITE
14 Jan 2025PlumbingSigned-offPlumbing work filed in conjunction with NB Construction (421133632). NYCECC Compliance (EN Model) reviewed under related NB application filed in BIS
15 Nov 2024Protection and Mechanical MethodsSigned-offINSTALLATION OF TEMPORARY PERSONNEL/MATERIAL WEST HOIST COMPLEX AS PER PLANS IN CONJUNCTION WITH NB CONSTRUCTION. NO CHANGE IN USE, EGRESS OR OCCUPANCY. HOIST TO COMPLY WITH CHAPTER 33 OF NYC BUILDING CODE OF 2022
6 Jun 2024StructuralSigned-offNorth Site) Structural work filed in conjunction with NB Construction. NB filed under Building# NB#421133632
13 May 2024Suspended ScaffoldSigned-offUse of existing window washing and Davit equipment with suspended scaffold for facade cleaning and installations as per plans filed herewith. No change in use, egress, or occupancy
19 Mar 2024Protection and Mechanical MethodsSigned-offINSTALLATION OF SUSPENDED SCAFFOLD AS SHOWN ON PLANS
18 Mar 2024Mechanical SystemsSigned-offMechanical work filed in conjunction with NB Construction (421133632). NYCECC Compliance (EN Model) reviewed under related NB application filed in BIS
6 Feb 2024Construction FenceSigned-offINSTALLATION OF A TEMPORARY CONSTRUCTION FENCE AS PER PLANS DURING NB CONSTRUCTION. NO CHANGE IN USE, EGRESS OR OCCUPANCY. FENCE TO COMPLY WITH 2014 NYC BUILDING CODE, CHAPTER 33
6 Dec 2023Suspended ScaffoldSigned-offApplication for the installation and use of suspended scaffolds as per plans filed herein. No change in egress, use, or occupancy
20 Oct 2023Protection and Mechanical MethodsSigned-offINSTALLATION AND USE OF TEMPORARY MINI CRANE AS PER PLANS FILED HEREWITH. NO CHANGE IN USE, EGRESS OR OCCUPANCY
20 Jul 2023Mechanical SystemsSigned-offINSTALL NEW COGEN UNIT AS PER PLANS. INSTALL NEW EXHAUST VENTS AS PER PLANS. NO CHANGE IN USE, EGRESS OR OCCUPANCY
13 Jul 2023Boiler EquipmentSigned-offINSTALL FIVE (5) NEW GAS-FIRED BOILERS AS PER PLANS. NO CHANGE IN USE, EGRESS OR OCCUPANCY
11 Apr 2023Curb CutSigned-offInstallation of 20' curb cut on 54th Avenue. Application filed in conjunction w/ NB #421133632
11 Apr 2023Curb CutSigned-offInstallation of 34' curb return off 54th Avenue, on to Malt Drive. Application filed in conjunction with NB# 421133632
11 Apr 2023Curb CutSigned-offInstallation of 34' curb return off 2nd Street, on to Malt Drive. Application filed in conjunction with NB# 421133632
30 Mar 2023A3ISSUED
23 Mar 2023A2ISSUED
14 Mar 2023Protection and Mechanical MethodsSigned-offINSTALLATION AND USE OF TEMPORARY CLIMBING PLATFORM AS PER PLAN FILED HEREWITH. NO CHANGE IN USE EGRESS OR OCCUPANCY
7 Mar 2023General ConstructionSigned-offINSTALLATION OF CONCRETE PUMP IN CONJUNCTION WITH NB 421133632. THIS APPLICATION INVOLVES NO CHANGE IN USE, OCCUPANCY OR EGRESS
16 Feb 2023General ConstructionSigned-offINSTALLATION OF TEMPORARY MULTIPOINT SUSPENDED SCAFFOLD SYSTEM DURING NB CONST, FILED SEPARATELY. SUSPENDED SCAFFOLD SHALL COMPLY WITH CH 33 OF THE NYC BC. NO CHANGE IN USE, OCCUPANCY OR EGRESS UNDER THIS APPLICATION
14 Feb 2023Supported ScaffoldSigned-offINSTALLATION 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
26 Jan 2023Protection and Mechanical MethodsSigned-offINSTALLATION AND USE OF TEMPORARY CLIMBING PLATFORM AS PER PLAN FILED HEREWITH. NO CHANGE IN USE EGRESS OR OCCUPANCY
18 Nov 2022Protection and Mechanical MethodsSigned-offINSTALLATION OF TEMPORARY PERSONNEL/MATERIAL EAST HOIST COMPLEX AS PER PLANS IN CONJUNCTION WITH NB CONSTRUCTION. NO CHANGE IN USE, EGRESS OR OCCUPANCY. HOIST TO COMPLY WITH CHAPTER 33 OF NYC BUILDING CODE OF 2022
23 Aug 2022PlumbingSigned-offStorm Detention System in conjunction with New Building construction. NB filed under 421133632
25 Feb 2022Sidewalk ShedSigned-offINSTALLATION OF A HEAVY DUTY SIDEWALK SHED AS PER PLANS IN CONJUNCTION WITH NB CONSTRUCTION. NO CHANGE IN USE, EGRESS OR OCCUPANCY. SIDEWALK SHED TO COMPLY WITH 2014 NYC BUILDING CODE, CHAPTER 33
10 Feb 2022General ConstructionSigned-offApplication filed for installation of test piles for data associated with NB Construction. Piles to be abandoned and not part of proposed NB scope
13 Aug 2021DMISSUED
6 Aug 2021Construction FenceSigned-offINSTALLATION OF PLYWOOD FENCE DURING BUILDING DEMOLITION, FILED SEPARATELY. PLYWOOD FENCE SHALL COMPLY WITH CHAPTER #33 OF THE NYC BUILDING CODE. NO CHANGE IN USE, OCCUPANCY OR EGRESS UNDER THIS APPLICATION
17 Jun 2021Sidewalk ShedSigned-offINSTALLATION OF TEMPORARY SIDEWALK SHED AS PER PLANS. NO CHANGE IN USE, EGRESS OR OCCUPANCY
16 Aug 2012SGISSUED
2 Feb 2012A2ISSUED
18 Nov 2011A2ISSUED
1 Nov 2011A2ISSUED
5 Oct 2011A2ISSUED
22 Sep 2011A2ISSUED
16 Sep 2011A2ISSUED
16 Sep 2011A2ISSUED
16 Sep 2011A2ISSUED
12 Sep 2011A2ISSUED
6 Sep 2011A2ISSUED
6 Sep 2011A2ISSUED
20 Jun 2011A2ISSUED
20 Jun 2011A2ISSUED
13 May 2011A2ISSUED

Showing the 50 most recent of 76. The full set is available in the interactive report.

Recorded documents

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

RecordedTypeAmountFromTo
19 Sep 2025DECL
12 Jan 2024SMIS
16 Oct 2023EASE
18 Jan 2023Release
18 Jan 2023Agreement
18 Jan 2023Deed
18 Jan 2023Mortgage$358,863,110
18 Jan 2023Mortgage$59,136,890
18 Jul 2022Agreement
18 Feb 2022EASE
12 Jan 2022SAGE
12 Oct 2021SMIS
17 Sep 2021ZONE
17 Sep 2021SMIS
17 Sep 2021CERT
27 Dec 2019Deed
5 Sep 2019CERT
5 Sep 2019ZONE
21 May 2019Deed$285,000,000
21 May 2019CERT
21 May 2019SAGE
21 May 2019ZONE
21 Apr 2011Transfer tax return
13 Aug 2010MAPS
4 Aug 2006Deed
22 Aug 1989LEAS
7 Apr 1987Deed
21 Aug 1986LEAS
21 Aug 1986Satisfaction of mortgage
21 Aug 1986Deed
21 Aug 1986Deed
21 Aug 1986Satisfaction of mortgage
21 Aug 1986EASE
23 Jan 1984LEAS
23 Jan 1984Mortgage$3,000
5 Apr 1983LEAS
5 Apr 1983EASE
5 Apr 1983Deed
5 Apr 1983Mortgage$4,500
16 Jun 1972EASE
12 Jan 1972LTPA
12 Jan 1972Deed
25 Aug 1971Deed
8 Sep 1970SAGE
27 Jun 1969SAGE
8 Dec 1967Deed

About this page

Compiled from New York City public records — data retrieved 2 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.