2-20 Malt Drive
Analysis
The property is a new, low‑risk asset with strong equity, but the lack of an arm‑length sale price, a lingering violation, and many complaints warrant careful due diligence.
The good
- Built in 2022, so systems and finishes are brand new
- Low assessed risk with no open violations, penalties, or legal proceedings
- Market value ($149,142,000) far exceeds assessed value, indicating strong equity
- Average unit size of 977 sq ft provides spacious apartments
The bad
- One open violation remains despite a per‑unit rate of 0
- Last recorded sale price is $0, meaning no arm‑length transaction to establish market precedent
- High number of complaints (378) may signal resident dissatisfaction
- Large amount of unused buildable square footage (680,361 sq ft) cannot be added to the building
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 3.02 against a permitted 6.50, leaving 3.48 of unused ratio — roughly 680,361 sq ft of buildable area on a lot of 195,506 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 light open-violation load
Only 1 violation is currently open across 575 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 1,491.3% across the 5 assessment years on record (2023 to 2027), standing at $67,113,900. 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 | 3.02 |
|---|---|
| Residential limit | 5.00 |
| Commercial limit | 0.00 |
| Community-facility limit | 6.50 |
Development headroom (calculated) calculated
| Highest permitted ratio | 6.50 |
|---|---|
| Unused ratio | 3.48 |
| Unused buildable area | 680,361 sq ft |
| Lot area | 195,506 sq ft |
Value & taxes
Assessment
| Assessed total | $67,113,900 |
|---|---|
| Assessed land | $5,482,800 |
| Assessed building | $61,631,100 |
| Market value on record | $149,142,000 |
| Assessed as % of market | 45.0% |
Tax
| Tax class | 2 |
|---|---|
| Taxable assessed | $67,113,900 |
| Tax rate | 12.502% |
| Estimated annual levy | $8,390,579.78 |
| Tax exemption (assessed value) | 421-a — $62,448,625 (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
| Year | Assessed value | Change |
|---|---|---|
| 2027 | $67,113,900 | — |
| 2026 | $60,994,350 | +10.0% |
| 2025 | $24,966,000 | +144.3% |
| 2024 | $5,482,800 | +355.4% |
| 2023 | $4,217,592 | +30.0% |
Building & occupancy
Structure
| Year built | 2022 |
|---|---|
| Floors | 34 |
| Building area | 589,727 sq ft |
| Residential area | 561,855 sq ft |
| Commercial area | 27,872 sq ft |
Occupancy
| Total units | 579 |
|---|---|
| Residential units | 575 |
| Rent-stabilized | 449 |
| Free Market / Other | 126 |
| Storefronts | 3 |
| Residential Avg unit size | 977 sq ft (calculated) |
| Commercial Avg unit size | 6,968 sq ft (calculated) |
| Building class | D6 |
Neighborhood, risk & energy
Neighborhood & transit
| Nearest subway | Vernon Blvd-Jackson Av (7) — 0.36 mi |
|---|---|
| School district | 30 |
| Police precinct | 108 |
| Nearest firehouse | Engine 258/Ladder 115 — 10-40 47th Ave. |
Location risk
| Flood zone | Minimal hazard (Zone X) |
|---|---|
| Hurricane evacuation zone | Zone 1 |
| Projected floodplain | In the projected 2050s floodplain |
| Environmental restriction | Hazardous materials, air quality, noise |
| Cleanup site | Voluntary cleanup site (completed) |
Energy & emissions
| Energy use intensity | 46.3 kBtu/ft² |
|---|---|
| Greenhouse-gas emissions | 2,971 metric tons/yr |
Comparable sales
| Address | Sale date | Price | Sq ft | $/sq ft |
|---|---|---|---|---|
| 55-01 2nd Street | 2019-05-15 | $285,000,000 | 183,797 | $1,551 |
Record activity
Compliance calculated
| Open violations | 1 |
|---|---|
| Open per residential unit | 0.0 (calculated) |
| Enforcement penalties | $0.00 |
| Safety-violation penalties | Not available |
| Total penalties owed | $0.00 (calculated) |
| On tax-lien sale list | No |
Activity
| Complaints recorded | 378 |
|---|---|
| Permits / alterations | 54 |
| Recorded documents | 21 |
| 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 | Bud South LLC |
|---|---|
| Parcel | 4000110003 |
| Block | 11 |
| Lot | 3 |
| Mortgage on record | $40,401,000 (2025) — M&t Realty Capital Corporation |
| Fixture liens | 1 active fixture lien |
Last recorded transfer
| Date | 18 Jan 2023 |
|---|---|
| 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 |
|---|---|---|---|---|---|
| 22 Jun 2026 | Building | Benchmarking - a local law | Active | — | FAILURE TO FILE BENCHMARKING REPORT OF ENERGY USE AS PER AD. CODE SEC. 28-309.4 |
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 |
|---|---|---|---|---|
| 2 Aug 2026 | Blocked Crosswalk | Illegal Parking | Closed | 2 Aug 2026 |
| 28 Jul 2026 | Trash | Lot Condition | In Progress | — |
| 25 Jul 2026 | Driver Complaint - Non Passenger | For Hire Vehicle Complaint | In Progress | — |
| 24 Jul 2026 | Blocked Crosswalk | Illegal Parking | Closed | 24 Jul 2026 |
| 12 Jul 2026 | BBQ Outside Authorized Area | Violation of Park Rules | Closed | 12 Jul 2026 |
| 11 Jul 2026 | Loud Music/Party | Noise - Residential | Closed | 12 Jul 2026 |
| 11 Jul 2026 | Loud Talking | Noise - Street/Sidewalk | Closed | 11 Jul 2026 |
| 10 Jul 2026 | Loud Music/Party | Noise - Residential | Closed | 11 Jul 2026 |
| 9 Jul 2026 | Loud Music/Party | Noise - Residential | Closed | 10 Jul 2026 |
| 29 Jun 2026 | Pet/Animal | Food Establishment | In Progress | — |
| 27 Jun 2026 | Loud Music/Party | Noise - Residential | Closed | 27 Jun 2026 |
| 21 Jun 2026 | Loud Music/Party | Noise - Street/Sidewalk | Closed | 21 Jun 2026 |
| 14 Jun 2026 | Loud Music/Party | Noise - Street/Sidewalk | Closed | 15 Jun 2026 |
| 14 Jun 2026 | Loud Music/Party | Noise - Residential | Closed | 14 Jun 2026 |
| 8 Jun 2026 | Loud Music/Party | Noise - Residential | Closed | 8 Jun 2026 |
| 8 Jun 2026 | Loud Music/Party | Noise - Street/Sidewalk | Closed | 8 Jun 2026 |
| 8 Jun 2026 | Loud Music/Party | Noise - Street/Sidewalk | Closed | 8 Jun 2026 |
| 8 Jun 2026 | Loud Music/Party | Noise - Street/Sidewalk | Closed | 8 Jun 2026 |
| 8 Jun 2026 | Use Outside | Drug Activity | Closed | 8 Jun 2026 |
| 8 Jun 2026 | Loud Music/Party | Noise - Residential | Closed | 8 Jun 2026 |
| 3 Jun 2026 | Loud Talking | Noise - Park | Closed | 4 Jun 2026 |
| 3 Jun 2026 | Loud Talking | Noise - Park | Closed | 4 Jun 2026 |
| 1 Jun 2026 | Neglected | Animal-Abuse | Closed | 1 Jun 2026 |
| 25 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 25 May 2026 |
| 25 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 25 May 2026 |
| 16 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 16 May 2026 |
| 10 May 2026 | Double Parked Blocking Traffic | Illegal Parking | Closed | 10 May 2026 |
| 7 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 8 May 2026 |
| 7 May 2026 | Noise: Boat(Engine,Music,Etc) (NR10 | Noise | Closed | 7 May 2026 |
| 3 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 3 May 2026 |
| 3 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 3 May 2026 |
| 2 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 2 May 2026 |
| 2 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 2 May 2026 |
| 2 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 2 May 2026 |
| 2 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 2 May 2026 |
| 1 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 1 May 2026 |
| 1 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 1 May 2026 |
| 1 May 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 1 May 2026 |
| 30 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 30 Apr 2026 |
| 30 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 30 Apr 2026 |
| 22 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 22 Apr 2026 |
| 20 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 20 Apr 2026 |
| 20 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 20 Apr 2026 |
| 17 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 18 Apr 2026 |
| 15 Apr 2026 | N/A | Panhandling | Closed | 15 Apr 2026 |
| 14 Apr 2026 | Noise: Construction Equipment (NC1 | Noise | Closed | 16 Apr 2026 |
| 12 Apr 2026 | Illegal Animal Sold | Pet Sale | Closed | 12 Apr 2026 |
| 5 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 5 Apr 2026 |
| 5 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 5 Apr 2026 |
| 3 Apr 2026 | Posted Parking Sign Violation | Illegal Parking | Closed | 3 Apr 2026 |
Showing the 50 most recent of 150. 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.
| Issued | Type | Status | Work |
|---|---|---|---|
| 20 Apr 2026 | General Construction | Signed-off | THREE NON-ILLUMINATED NON-ADVERTISING ACCESSORY AWNINGS. NO CHANGE OF USE, EGRESS OR OCCUPANCY |
| 20 Jan 2026 | Mechanical Systems | Signed-off | INTERIOR RENOVATION EXISTING COMMERCIAL SPACE WITH PARTITION WORK AND MECHANICAL ON 1ST FLOOR. NO CHANGE IN USE, EGRESS OR OCCUPANCY |
| 31 Dec 2025 | General Construction | Signed-off | INTERIOR RENOVATION EXISTING COMMERCIAL SPACE WITH PARTITION WORK ON 1ST FLOOR |
| 30 Sep 2025 | Suspended Scaffold | Signed-off | Use 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 |
| 15 Apr 2025 | Suspended Scaffold | Signed-off | INSTALLATION OF SUSPENDED SCAFFOLD AS SHOWN ON PLANS |
| 22 Jan 2025 | Plumbing | Signed-off | Plumbing work filed in conjunction with NB Construction (421133641). NYCECC Compliance (EN Model) reviewed under related NB application filed in BIS |
| 23 Jul 2024 | General Construction | Signed-off | Tenant Protection plan (no work) filed in conjunction with NB 421133641 |
| 13 May 2024 | Suspended Scaffold | Signed-off | Use 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 2024 | Protection and Mechanical Methods | Signed-off | INSTALLATION OF SUSPENDED SCAFFOLD AS SHOWN ON PLANS |
| 20 Feb 2024 | Construction Fence | Signed-off | INSTALLATION OF A TEMPORARY CONSTRUCTION FENCE AS PER PLANS IN CONJUNCTION WITH NB CONSTRUCTION. NO CHANGE IN USE, EGRESS OR OCCUPANCY. CONSTRUCTION FENCE TO COMPLY WITH CHAPTER 33 OF NYC BUILDING CODE OF 2014 |
| 11 Jan 2024 | Construction Fence | Signed-off | INSTALLATION OF A TEMPORARY CONSTRUCTION FENCE AS PER PLANS IN CONJUNCTION WITH NB CONSTRUCTION. NO CHANGE IN USE, EGRESS OR OCCUPANCY. CONSTRUCTION FENCE TO COMPLY WITH CHAPTER 33 OF NYC BUILDING CODE OF 2014 |
| 5 Jan 2024 | Protection and Mechanical Methods | Signed-off | INSTALLATION AND USE OF A GANTRY AS PER PLANS SUBMITTED. GANTRY SHALL COMPLY WITH CHAPTER #33 OF NYC BUILDING CODE. THIS APPLICATION INVOLVES NO CHANGE IN OCCUPANCY, USE OR EGRESS |
| 14 Dec 2023 | NB | ISSUED | — |
| 6 Nov 2023 | General Construction | Signed-off | INSTALL NEW DOUBLEWALL METAL STACK. ALL STRUCTUAL DETAILS, SUPPORTS, GAS, ETC., IN CONJUNCTION WITH NB 421133641. NO CHANGE IN MEANS OF EGRESS USE GROUP OR OCCUPANCY |
| 6 Nov 2023 | Boiler Equipment | Signed-off | INSTALL (4) NEW GAS FIRED HOT WATER CONDENSING BOILERS WITH INTEGRAL BURNERS ON THE 2ND FLOOR. ALL STRUCTUAL DETAILS, SUPPORTS, GAS, ETC., IN CONJUNCTION WITH NB 421133641 |
| 7 Jul 2023 | A2 | ISSUED | — |
| 28 Jun 2023 | A3 | ISSUED | — |
| 22 Jun 2023 | Supported Scaffold | Signed-off | 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 |
| 5 May 2023 | Supported Scaffold | Signed-off | TEMPORARY BAKERS SCAFFOLD AS PER DRAWINGS. BAKERS SCAFFOLD SHALL COMPLY WITH CH #33 OF THE NYC BC. NO CHANGE IN USE, OCCUPANCY OR EGRESS UNDER THIS APPLICATION |
| 2 May 2023 | Curb Cut | Signed-off | Installation of 25' curb cut on 2nd Street (Parking). Filed in conjunction with NB Construction 421133641 |
| 2 May 2023 | Curb Cut | Signed-off | Installation of 25' curb cut on 2nd Street (loading). Filed in conjunction with NB Construction 421133641 |
| 3 Apr 2023 | General Construction | Signed-off | INSTALLATION OF TEMPORARY MULTI-POINT SUSPENDED SCAFFOLD AS PER DRAWINGS DURING NB CONST, FILED SEP. SUSPENDED SCAFFOLD SHALL COMPLY WITH CH 33 OF THE NYC BC. NO CHANGE IN USE, OCCUPANCY OR EGRESS UNDER THIS APPLICATION |
| 31 Mar 2023 | Supported Scaffold | Signed-off | INSTALLATION 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 |
| 30 Mar 2023 | A3 | ISSUED | — |
| 30 Mar 2023 | A3 | ISSUED | — |
| 25 Jan 2023 | Standpipe | Signed-off | Installation of new sprinkler/standpipe system in conjunction with NB Construction. NB Filed under #421133641 |
| 21 Dec 2022 | General Construction | Signed-off | Installation of temporary Loading Platforms in Conjunction with building superstructure construction. This application involves no change in use, occupancy, or egress |
| 14 Dec 2022 | A2 | ISSUED | — |
| 21 Nov 2022 | Protection and Mechanical Methods | Signed-off | INSTALLATION OF A TEMPORARY P/M HOIST COMPLEX AS PER PLANS IN CONJUNCTION WITH NB CONSTRUCTION. NO CHANGE IN USE, EGRESS OR OCCUPANCY. HOIST TO COMPLY WITH 2022 NYC BUILDING CODE, CHAPTER 33 |
| 26 Aug 2022 | Plumbing | Signed-off | Storm Drainage System in conjunction with New Building construction. NB filed under 421133641 |
| 2 Aug 2022 | Structural | Signed-off | South Site) Structural work filed in conjunction with NB Construction. NB filed under Building NB#421133641 |
| 25 Mar 2022 | Mechanical Systems | Signed-off | Mechanical work filed in conjunction with NB Construction (421133641). NYCECC Compliance (EN Model) reviewed under related NB application filed in BIS |
| 25 Feb 2022 | Sidewalk Shed | Signed-off | INSTALLATION 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 CHAPTER 33 OF NYC BUILDING CODE OF 2014 |
| 18 Feb 2022 | General Construction | Signed-off | Application filed for installation of test piles for data associated with NB Construction. Piles to be abandoned and not part of proposed NB scope |
| 15 Feb 2022 | Standpipe | Signed-off | Application filed for temporary standpipe in conjunction with NB Construction. NB Filed under 421133641. (SOUTH SITE |
| 4 Aug 2021 | DM | ISSUED | — |
| 10 Jun 2021 | Sidewalk Shed | Signed-off | INSTALLATION OF TEMPORARY SIDEWALK SHED AS PER PLANS. NO CHANGE IN USE, EGRESS OR OCCUPANCY |
| 25 Mar 2021 | Construction Fence | Signed-off | INSTALLATION 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 |
| 16 Aug 2012 | SG | ISSUED | — |
| 18 Nov 2011 | A2 | ISSUED | — |
| 1 Nov 2011 | A2 | ISSUED | — |
| 5 Oct 2011 | A2 | ISSUED | — |
| 22 Sep 2011 | A2 | ISSUED | — |
| 12 Sep 2011 | A2 | ISSUED | — |
| 20 Jun 2011 | A2 | ISSUED | — |
| 31 Aug 2000 | A2 | ISSUED | — |
| 3 Feb 2000 | A2 | ISSUED | — |
| 22 Aug 1997 | A2 | ISSUED | — |
| 11 Dec 1995 | A2 | ISSUED | — |
| 8 Nov 1995 | A2 | ISSUED | — |
Showing the 50 most recent of 54. 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.
| Recorded | Type | Amount | From | To |
|---|---|---|---|---|
| 7 Nov 2025 | Agreement | $347,401,000 | — | — |
| 7 Nov 2025 | Assignment | — | — | — |
| 7 Nov 2025 | Mortgage | $40,401,000 | — | — |
| 7 Nov 2025 | Assignment | — | — | — |
| 7 Nov 2025 | Assignment | — | — | — |
| 19 Sep 2025 | DECL | — | — | — |
| 18 Jan 2023 | Deed | — | — | — |
| 18 Jan 2023 | Mortgage | $260,714,020 | — | — |
| 18 Jan 2023 | Mortgage | $46,285,980 | — | — |
| 18 Jan 2023 | Agreement | — | — | — |
| 18 Jul 2022 | Agreement | — | — | — |
| 22 Mar 2022 | RPTT&RET | — | — | — |
| 18 Feb 2022 | EASE | — | — | — |
| 18 Feb 2022 | EASE | — | — | — |
| 12 Jan 2022 | SAGE | — | — | — |
| 12 Oct 2021 | SMIS | — | — | — |
| 17 Sep 2021 | ZONE | — | — | — |
| 17 Sep 2021 | SMIS | — | — | — |
| 17 Sep 2021 | CERT | — | — | — |
| 15 Jul 2021 | LTPA | $203,692 | — | — |
| 27 Dec 2019 | Deed | — | — | — |
About this page
Compiled from New York City public records — data retrieved 6 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.