41-42 24 Street
Queens · Parcel 4004130002
395,000 sq ft
Building area
$50,616,000
Assessed value
Analysis
AI-generated Risk: Medium
Medium risk is driven by outstanding safety penalties and the over‑built residential floor‑area, but the strong equity gap and clean legal/tax status are positive factors.
The good
- market value on record (112,480,000) far exceeds assessed value (50,616,000), indicating potential equity upside
- no legal proceedings and not on tax lien list reduce ownership risk
- building is relatively new (built 2013) and has a large average unit size (866 sq ft)
- open violations per unit is reported as 0, suggesting low per‑unit compliance issues
The bad
- safety violation penalties of 6,000 are unpaid, a standing debt buyers often miss
- building is over‑built for residential use (built FAR 9.49 exceeds residential limit 7.52), limiting future expansion
- 6 open violations remain, indicating unresolved compliance matters
- unused buildable square footage (21,230 sq ft) cannot be added because the building is already over‑built
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 9.49, against a residential limit of 7.52 — it is over that limit by 1.97. 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 10.00 does apply to community-facility use, which produces an apparent 21,230 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 6 violations are currently open across 421 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 9 Oct 2013 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 14.9% across the 5 assessment years on record (2023 to 2027), standing at $50,616,000. 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 | 9.49 |
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| Residential limit | 7.52 |
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| Commercial limit | 5.00 |
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| Community-facility limit | 10.00 |
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Development headroom (calculated) calculated
| Highest permitted ratio | 10.00 |
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| Unused ratio | 0.51 |
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| Unused buildable area | 21,230 sq ft |
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| Lot area | 41,628 sq ft |
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Value & taxes
Assessment
| Assessed total | $50,616,000 |
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| Assessed land | $2,809,800 |
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| Assessed building | $47,806,200 |
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| Market value on record | $112,480,000 |
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| Assessed as % of market | 45.0% |
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Tax
| Tax class | 2 |
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| Taxable assessed | $44,727,530 |
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| Tax rate | 12.502% |
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| Estimated annual levy | $5,591,835.80 |
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| Tax exemption (assessed value) | 421-a — $46,697,676 (through 2033) |
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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 | $50,616,000 | — |
| 2026 | $46,662,750 | +8.5% |
| 2025 | $44,462,250 | +4.9% |
| 2024 | $44,411,400 | +0.1% |
| 2023 | $44,046,900 | +0.8% |
Building & occupancy
Structure
| Year built | 2013 |
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| Floors | 21 |
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| Building area | 395,000 sq ft |
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| Residential area | 364,740 sq ft |
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| Commercial area | 30,260 sq ft |
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Occupancy
| Total units | 425 |
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| Residential units | 421 |
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| Rent-stabilized | 421 |
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| Storefronts | 5 |
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| Residential Avg unit size | 866 sq ft (calculated) |
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| Commercial Avg unit size | 7,565 sq ft (calculated) |
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| Building class | D6 |
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Neighborhood, risk & energy
Neighborhood & transit
| Nearest subway | Queensboro Plaza (N, W) — 0.1 mi |
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| School district | 30 |
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| Police precinct | 114 |
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| Nearest firehouse | Ladder 116 — 37-20 29th Street |
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Location risk
| Flood zone | Minimal hazard (Zone X) |
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| Hurricane evacuation zone | Zone 4 |
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| Evictions on record | 4 (most recent 2026) |
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Energy & emissions
| Energy use intensity | 58.8 kBtu/ft² |
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| Greenhouse-gas emissions | 1,940 metric tons/yr |
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Comparable sales
| Address | Sale date | Price | Sq ft | $/sq ft |
|---|
| 41-21 23rd Street, Com-1 | 2024-04-25 | $999,000 | — | — |
| 41-21 23rd Street, 7b | 2024-04-25 | $1,110,000 | — | — |
| 4121 23rd Street, 5b | 2024-04-01 | $760,000 | — | — |
| 41-21 23rd Street, 5a | 2023-08-31 | $740,000 | — | — |
| 41-21 23rd Street, 8a | 2023-08-21 | $1,140,000 | — | — |
| 41-21 23rd Street, 2b | 2023-06-23 | $735,000 | — | — |
| 41-21 23rd Street, 3b | 2023-06-05 | $755,000 | — | — |
| 41-21 23rd Street, 7a | 2023-03-20 | $1,160,805 | — | — |
Record activity
Compliance calculated
| Open violations | 6 |
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| Open per residential unit | 0.0 (calculated) |
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| Enforcement penalties | $0.00 |
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| Safety-violation penalties | Not available |
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| Total penalties owed | $6,000.00 (calculated) |
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| On tax-lien sale list | No |
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Activity
| Complaints recorded | 181 |
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| Permits / alterations | 58 |
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| Recorded documents | 58 |
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| Legal proceedings | 0 |
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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 | 24th Street Lic LLC |
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| Parcel | 4004130002 |
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| Block | 413 |
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| Lot | 2 |
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| Mortgage on record | $55,337,300 (2015) — Natixis Real Estate Capital LLC — note assigned |
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| Fixture liens | 1 active fixture lien |
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Last recorded transfer
| Date | 9 Oct 2013 |
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| Recorded price | $0 |
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| Price per unit | Not meaningful |
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| Price vs assessed | Not meaningful |
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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.
Complaints
A complaint is an allegation, not a finding — many are dismissed. A sustained pattern is nevertheless informative about how a building is run.
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.
Showing the 50 most recent of 58. 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.
Showing the 50 most recent of 58. The full set is available in the interactive report.
About this page
Compiled from New York City public records — data retrieved 16 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.