Warehouse · Bushwick, Brooklyn
340 Morgan Avenue
Brooklyn, NY 11211
340 Morgan Avenue is a 2-floor warehouse in Bushwick, Brooklyn, built in 1938, with about 90,000 square feet of industrial and storage space according to city records.
Also at 25-41 Calhoun Street, 340-342 Morgan Avenue and 307-325 Vandervoort Avenue.
- Industrial and storage space
- 90K SF
- Floors
- 2
- Year built
- 1938
- Zoning
- M1-1
The 12th largest of the 52 industrial and storage buildings we track in Bushwick. Compare it with 6 neighbors
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Compared with its neighbors
How 340 Morgan Avenue compares
Next to the 6 nearest large industrial and storage buildings, all within a 3 minute walk, 340 Morgan Avenue ranks 2nd of 7 by industrial and storage floor area. It went up in 1938; the median neighbor dates from 1957. Its estimated property tax, about $4.48 a square foot of floor area before abatements, is below the neighbors' median of $5.70.
| Building | Industrial and storage space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 340 Morgan Avenue | 90K SF | 2 | 1938 | $4.48 | n/a |
| 1 Rewe Street | 75K SF | 1 | 1957 | Exempt | n/a |
| 1053 Metropolitan Avenue | 36K SF | 1 | 1926 | $5.63 | n/a |
| 1027 Metropolitan Avenue | 44K SF | 4 | 1960 | $4.23 | n/a |
| 1101 Metropolitan Avenue | 60K SF | 1 | 1959 | $9.51 | May 2008, $11.5M |
| 272 Morgan Avenue | 172K SF | 5 | 1900 | $6.45 | n/a |
| 8 Rewe Street | 49K SF | 1 | 1957 | $5.70 | Jan 2005, $5M |
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); ACRIS for the last deed that moved the whole lot for a real price (a price for several lots is their combined price; condominiums sell by the unit and show n/a). 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
- 25-41 Calhoun Street; 340-342 Morgan Avenue; 307-325 Vandervoort Avenue
- ZIP code
- 11211
- Building type
- Warehouse (city class E9)
- Total floor area
- 89,500 SF
- Commercial floor area
- 89,500 SF
- Industrial and storage
- 89,500 SF
- Height
- 2 floors
- Year built
- 1938
- Lot area
- 81,250 SF
- Zoning district
- M1-1
- Built FAR
- 1.1
- Max commercial FAR
- 1
- Tax lot (BBL)
- 3029090106
Nearest subway
- Grand St
- Graham Av
- Montrose Av
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-16; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-16. 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 Department of Finance records
Owner, property tax and assessed value
The Department of Finance lists KG2 REALTY as the owner of record. For tax year 2026/27 the city values 340 Morgan Avenue at $9.63 million and assesses it at $4.34 million. After phase-ins and exemptions its taxable value is $3.69 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 $400,701 a year before abatements, roughly $4.48 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
- KG2 REALTY
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $9,634,000
- Land market value
- $1,827,000
- Assessed value
- $4,335,300
- Taxable value (phased in)
- $3,693,780
- Estimated yearly tax
- About $400,701
- Tax per SF of floor area
- About $4.48
City market value by tax year
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How to find who owns any NYC buildingSource: 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 2026-10-16; 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.
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NYC energy benchmarking (Local Law 84)
Energy score, grade and emissions
340 Morgan Avenue reported an ENERGY STAR score of 24 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 30.8 kBtu per square foot, 56% above the national median of 19.7 for a similar property. Its greenhouse gas emissions were about 310 metric tons of CO2e (3.48 kg per square foot).
- ENERGY STAR score (2024)
- 24 of 100
- Grade this score earns (Local Law 33)
- D (under 55)
- Property type (Portfolio Manager)
- Distribution Center
- Site energy use intensity
- 30.8 kBtu/SF
- National median for the type
- 19.7 kBtu/SF
- Greenhouse gas emissions
- 310 t CO2e
- Emissions per SF
- 3.48 kg CO2e
- Floor area in the filing
- 89,000 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 2026-10-16; 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, 340 Morgan Avenue comes to about 229 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 511 tons for 2024 to 2029 (45% of the limit), so it would owe no penalty. From 2030 the limit drops to 88 tons and the same energy use counts as about 117 tons, about 29 tons over, or an estimated $7,800 a year unless the building cuts its emissions.
- Period
- 2024 to 2029
- Emissions limit
- 511 t CO2e
- Estimated emissions
- 229 t CO2e
- Under the limit by
- 281 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 88 t CO2e
- Estimated emissions
- 117 t CO2e
- Over the limit by
- 29 t CO2e
- Estimated penalty a year
- $7,800
Estimated from the owner's 2024 Local Law 84 filing, which reports energy by source and floor area by use: Distribution Center 89,000 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.
How Local Law 97 works: who is covered, the 2030 limits and what owners, tenants and buyers should check.
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Before you sign
Plain-English guides to square footage, rent and lease terms in New York, and free calculators to run your own numbers.
How much is commercial rent in NYC? Per square foot, by borough
What NYC office, retail and industrial buildings collect per square foot in each borough, from the city's own filings, with the monthly math and the costs on top of rent.
What does $/SF/yr mean? How to calculate rent per square foot
$/SF/yr is a year's rent for one square foot. How to turn it into a monthly bill, spot a monthly quote, and see what the rate leaves out before you compare spaces.
Tenant rep broker or going direct? Leasing in NYC
Should you hire a tenant rep broker or deal with landlords directly? Who pays commissions in NYC, what a tenant rep does, and how to choose one.
Questions about 340 Morgan Avenue
How big is 340 Morgan Avenue?
340 Morgan Avenue has about 90,000 square feet of floor area in total, including 90,000 square feet of industrial and storage space, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.
When was 340 Morgan Avenue built?
City records list 1938 as the year built. The building is 2 floors tall.
What other addresses does 340 Morgan Avenue have?
City records list 25-41 Calhoun Street, 340-342 Morgan Avenue and 307-325 Vandervoort Avenue on the same tax lot (BBL 3029090106) as 340 Morgan Avenue. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 340 Morgan Avenue?
340 Morgan Avenue is in ZIP code 11211, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 340 Morgan Avenue, Brooklyn, NY 11211, in Bushwick.
What is the zoning at 340 Morgan Avenue?
The lot is in the M1-1 zoning district. PLUTO lists a built floor area ratio (FAR) of 1.1 and a maximum commercial FAR of 1 for this lot.
What subway station is closest to 340 Morgan Avenue?
The closest subway station to 340 Morgan Avenue is Grand St (the L train), about 0.4 miles away in a straight line, roughly 8 minutes on foot. The MTA lists it as an accessible station. Also nearby: Graham Av (the L train), 10 min walk; Montrose Av (the L train), 13 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 340 Morgan Avenue?
The NYC Department of Finance's 2026/27 assessment roll lists KG2 REALTY as the owner of record of 340 Morgan Avenue (BBL 3029090106). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
What is the energy grade of 340 Morgan Avenue?
340 Morgan Avenue reported an ENERGY STAR score of 24 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 24 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 30.8 kBtu per square foot, 56% above the national median of 19.7 for a similar property. Its greenhouse gas emissions were about 310 metric tons of CO2e (3.48 kg per square foot).
Does 340 Morgan Avenue meet Local Law 97?
At its 2024 energy use, 340 Morgan Avenue comes to about 229 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 511 tons for 2024 to 2029 (45% of the limit), so it would owe no penalty. From 2030 the limit drops to 88 tons and the same energy use counts as about 117 tons, about 29 tons over, or an estimated $7,800 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 340 Morgan Avenue?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $3.69 million for 340 Morgan Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $400,701 a year, roughly $4.48 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 3029090106 show the actual bill.
What is the assessed value of 340 Morgan Avenue?
For tax year 2026/27, the NYC Department of Finance puts the market value of 340 Morgan Avenue at $9.63 million ($1.83 million of it land) and its assessed value at $4.34 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 33% from 2022/23 ($7.26 million) to 2026/27.
Is there industrial and storage space for lease at 340 Morgan Avenue?
No space at 340 Morgan 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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Bushwick
Transit hubs in Bushwick
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