Retail building · Flatlands, Brooklyn
1515 Albany Avenue
Brooklyn, NY 11210
1515 Albany Avenue is a 1-floor retail building in Flatlands, Brooklyn, built in 1968, with about 35,000 square feet of retail space according to city records.
Also at 1525-1565 Albany Avenue and 762-818 East 42nd Street.
- Retail space
- 35K SF
- Floors
- 1
- Year built
- 1968
- Zoning
- M1-1
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Compared with its neighbors
How 1515 Albany Avenue compares
Next to the 6 nearest large commercial buildings, all within a 8 minute walk, 1515 Albany Avenue is the smallest by commercial floor area. It went up in 1968; the median neighbor dates from 1953. Its estimated property tax, about $11.69 a square foot of floor area before abatements, is above the neighbors' median of $6.14.
| Building | Commercial space | Floors | Built | Tax / SF |
|---|---|---|---|---|
| 1515 Albany Avenue | 39K SF | 1 | 1968 | $11.69 |
| 761 East 42nd Street | 46K SF | 2 | 1950 | $6.36 |
| 1539 Troy Avenue | 40K SF | 2 | 1973 | $2.32 |
| 1635 Albany Avenue | 50K SF | 1 | 2013 | $7.86 |
| 4700 Glenwood Road | 85K SF | 3 | 1930 | $5.93 |
| 1476 Utica Avenue | 100K SF | 1 | 1956 | $2.99 |
| 4900 Glenwood Road | 82K SF | 3 | 1927 | $8.24 |
Sources: NYC Department of City Planning, PLUTO 26v2 for size, floors and year built; NYC Department of Finance 2026/27 roll for tax (taxable value times the class rate, before abatements, over the whole floor area). Large means at least 35,000 SF of the building's main use. Walking times are straight-line estimates.
NYC tax lot records
Building facts
- Other addresses
- 1525-1565 Albany Avenue; 762-818 East 42nd Street
- ZIP code
- 11210
- Building type
- Retail building (city class K1)
- Total floor area
- 38,800 SF
- Commercial floor area
- 38,800 SF
- Office
- 3,500 SF
- Retail
- 35,300 SF
- Height
- 1 floor
- Year built
- 1968
- Last major alteration
- 2019
- Lot area
- 98,200 SF
- Zoning district
- M1-1
- Built FAR
- 0.4
- Max commercial FAR
- 1
- Tax lot (BBL)
- 3050160013
Nearest subway
- Flatbush Av-Brooklyn College
- Newkirk Av-Little Haiti
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-05; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-05. Floor areas are the city's estimates for the whole building, not available space. Walking times are straight-line estimates. How we build these pages. Something wrong on this page? Tell us.
NYC storefront registry (Local Law 157)
Storefronts and vacancy
Owners registered one storefront at 1515 Albany Avenue for December 31, 2024, the newest annual filing the city has published, and it was not vacant that day.
- Storefronts registered for December 31, 2024
- 1
- Vacant that day
- 0
- Share vacant across Flatlands
- 6.8%
- Share vacant citywide
- 8.7%
Vacant on December 31, by year
Need a storefront in Flatlands? Get matchedStorefront vacancy across New York City
Source: NYC Department of Finance, Storefronts Reported Vacant or Not (Local Law 157), annual filings for 2019 to 2024, pulled 2026-10-09. Owners of buildings with ground- or second-floor storefronts register each one every year with its status on December 31; counts are by tax lot, as the owners filed them. The 2024 filing was due June 3, 2025, so a storefront vacant then may have been leased since. A vacant storefront is not always on the market, and none here is listed on Leasemark unless it shows above.
NYC Department of Finance records
Owner, property tax and assessed value
The Department of Finance lists M&K REAL ESTATE ASSOCIATES, LLC as the owner of record. For tax year 2026/27 the city values 1515 Albany Avenue at $10.5 million and assesses it at $4.71 million. After phase-ins and exemptions its taxable value is $4.18 million; at the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists) that comes to about $453,651 a year before abatements, roughly $11.69 per square foot of floor area. Commercial leases here often pass a tenant's share of tax increases over a base year through as additional rent.
- Owner of record
- M&K REAL ESTATE ASSOCIATES, LLC
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $10,457,000
- Land market value
- $5,401,000
- Assessed value
- $4,705,650
- Taxable value (phased in)
- $4,181,890
- Estimated yearly tax
- About $453,651
- Tax per SF of floor area
- About $11.69
City market value by tax year
Source: NYC Department of Finance, Property Valuation and Assessment Data (2026/27 roll; owner names as the roll records them, which cuts some long names short), pulled 2026-10-09; tax rate from the Department of Finance tax rates page, checked 2026-09-28. The estimate is the taxable value times the class rate. It leaves out abatements, payment-in-lieu-of-taxes agreements and charges, so the actual bill can differ.
Own or manage 1515 Albany Avenue? List a space here free and we match it against every active requirement.
NYC energy benchmarking (Local Law 84)
Energy score, grade and emissions
1515 Albany Avenue reported an ENERGY STAR score of 12 out of 100 for 2024 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns a D (under 55). Its site energy use came to 241.9 kBtu per square foot, 55% above the national median of 156.4 for a similar property. Its greenhouse gas emissions were about 919 metric tons of CO2e (21.99 kg per square foot).
- ENERGY STAR score (2024)
- 12 of 100
- Grade this score earns (Local Law 33)
- D (under 55)
- Property type (Portfolio Manager)
- Supermarket/Grocery Store
- Site energy use intensity
- 241.9 kBtu/SF
- National median for the type
- 156.4 kBtu/SF
- Greenhouse gas emissions
- 919 t CO2e
- Emissions per SF
- 21.99 kg CO2e
- Floor area in the filing
- 41,800 SF
ENERGY STAR score by year
Energy sources in 2024
Source: NYC Department of Buildings and Mayor's Office of Climate and Environmental Justice, NYC Building Energy and Water Data Disclosure for Local Law 84 (2024 filing), pulled 2026-10-09; grade cutoffs from the Department of Buildings energy grades page. Figures are as the owner filed them in ENERGY STAR Portfolio Manager. The grade is the one the filed score earns under the law's cutoffs; the Department of Buildings assigns the grade a building posts, which can differ.
Local Law 97 of 2019, estimated
Local Law 97 emissions limit
At its 2024 energy use, 1515 Albany Avenue comes to about 732 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 995 tons for 2024 to 2029 (74% of the limit), so it would owe no penalty. From 2030 the limit drops to 282 tons and the same energy use counts as about 472 tons, about 189 tons over, or an estimated $51,000 a year unless the building cuts its emissions.
- Period
- 2024 to 2029
- Emissions limit
- 995 t CO2e
- Estimated emissions
- 732 t CO2e
- Under the limit by
- 264 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 282 t CO2e
- Estimated emissions
- 472 t CO2e
- Over the limit by
- 189 t CO2e
- Estimated penalty a year
- $51,000
Estimated from the owner's 2024 Local Law 84 filing, which reports energy by source and floor area by use: Supermarket/Grocery Store 41,800 SF. It applies the coefficients and per-use limits in Department of Buildings rule 1 RCNY 103-14 and Administrative Code 28-320.3.1.1 (as the Department lists them) and the $268 per ton penalty, checked 2026-10-04. It is not the building's Local Law 97 report: that report can count renewable energy credits, solar and storage deductions and, for 2024 and 2025, the law's occupancy group limits where higher, and penalties can be reduced for good faith efforts.
Change these numbers in the Local Law 97 calculator to see what a cut in energy use would do to the penalty.
Own or manage 1515 Albany Avenue? List a space here free and we match it against every active requirement.
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Questions about 1515 Albany Avenue
How big is 1515 Albany Avenue?
1515 Albany Avenue has about 39,000 square feet of floor area in total, including 4,000 square feet of office and 35,000 square feet of retail, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.
When was 1515 Albany Avenue built?
City records list 1968 as the year built, with a major alteration recorded in 2019. The building is 1 floor tall.
What other addresses does 1515 Albany Avenue have?
City records list 1525-1565 Albany Avenue and 762-818 East 42nd Street on the same tax lot (BBL 3050160013) as 1515 Albany Avenue. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 1515 Albany Avenue?
1515 Albany Avenue is in ZIP code 11210, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 1515 Albany Avenue, Brooklyn, NY 11210, in Flatlands.
What is the zoning at 1515 Albany Avenue?
The lot is in the M1-1 zoning district. PLUTO lists a built floor area ratio (FAR) of 0.4 and a maximum commercial FAR of 1 for this lot.
What subway station is closest to 1515 Albany Avenue?
The closest subway station to 1515 Albany Avenue is Flatbush Av-Brooklyn College (the 2 and 5 trains), about 0.6 miles away in a straight line, roughly 12 minutes on foot. The MTA lists it as an accessible station. Also nearby: Newkirk Av-Little Haiti (the 2 and 5 trains), 13 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 1515 Albany Avenue?
The NYC Department of Finance's 2026/27 assessment roll lists M&K REAL ESTATE ASSOCIATES, LLC as the owner of record of 1515 Albany Avenue (BBL 3050160013). Big buildings are usually held through a company set up for that one property, so the name on the roll can differ from the landlord's brand or the managing agent. Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
What is the energy grade of 1515 Albany Avenue?
1515 Albany Avenue reported an ENERGY STAR score of 12 for calendar year 2024 in its Local Law 84 benchmarking filing. Under Local Law 33, as amended by Local Law 95 of 2019, a score of 85 or higher earns an A, 70 to 84 a B, 55 to 69 a C and under 55 a D, so 12 earns a D. The Department of Buildings assigns the grade a building posts, so the posted label can differ if a filing was corrected. Its site energy use came to 241.9 kBtu per square foot, 55% above the national median of 156.4 for a similar property. Its greenhouse gas emissions were about 919 metric tons of CO2e (21.99 kg per square foot).
Does 1515 Albany Avenue meet Local Law 97?
At its 2024 energy use, 1515 Albany Avenue comes to about 732 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 995 tons for 2024 to 2029 (74% of the limit), so it would owe no penalty. From 2030 the limit drops to 282 tons and the same energy use counts as about 472 tons, about 189 tons over, or an estimated $51,000 a year unless the building cuts its emissions. This is an estimate from the owner's 2024 benchmarking filing using the coefficients and per-use limits in the law and the Department of Buildings rule, at $268 per ton over. It is not the building's Local Law 97 report, which can count credits and deductions this estimate cannot.
What are the property taxes at 1515 Albany Avenue?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $4.18 million for 1515 Albany Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $453,651 a year, roughly $11.69 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 3050160013 show the actual bill.
What is the assessed value of 1515 Albany Avenue?
For tax year 2026/27, the NYC Department of Finance puts the market value of 1515 Albany Avenue at $10.5 million ($5.4 million of it land) and its assessed value at $4.71 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 7% from 2022/23 ($9.75 million) to 2026/27.
Are there vacant storefronts at 1515 Albany Avenue?
Owners registered one storefront at 1515 Albany Avenue for December 31, 2024, the newest annual filing the city has published, and it was not vacant that day. These are the owners' filings with the Department of Finance under Local Law 157, so a storefront may have come free since. Owners and brokers can list a storefront on Leasemark for free.
Is there retail space for lease at 1515 Albany Avenue?
No space at 1515 Albany Avenue is listed on Leasemark right now. Owners and brokers can list space here for free, and tenants can post a requirement to be matched when space opens up.
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Flatlands
Transit hubs in Flatlands
- B46 bus on Utica Av
- 2 5 at Flatbush Av-Brooklyn College
- Belt Parkway