The State of NYC Property

Class 1 homes are assessed at just ~6% of market value, versus ~45% for Class 2 apartments and ~45% for Class 4 commercial property.

The 10 largest entity owner-groups control 8.02% of citywide market value — out of 3,282 tracked entity ownership groups.

NYC Department of Parks & Recreation is the single largest entity property owner in NYC by assessed market value, with 5,053 lots.

NYC Department of Parks & Recreation carries the single largest tax-exempt property value of any entity owner in the city.

Individually-owned lots make up 67.3% of all NYC properties by count but only 40.7% of citywide market value — government holds 8.5%.

The single most valuable lot in NYC — 154-68 BROOKVILLE BLVD, Queens — is assessed at $18,880,836,000 in market value.

The 1920s produced more of NYC's current building stock than any other decade — 192,358 lots still standing today, dominated by one-family.

Queens has the highest share of its pre-1974, 6+ unit apartment stock registered as rent-stabilized (83.5%), versus just 50.5% in Staten Island.

10172 (Manhattan) has the highest median property value of any NYC zip with a meaningful lot count — $22,419,172.

NYC Department of Parks & Recreation holds the largest vacant-land portfolio of any entity owner — 167,330,829 sqft across 2972 lots.