Factory and industrial building · Bed-Stuy, Brooklyn
502 Flushing Avenue
Brooklyn, NY 11205
502 Flushing Avenue is a 3-floor factory and industrial building in Bed-Stuy, Brooklyn, built in 1931, with about 38,000 square feet of industrial and storage space according to city records.
Also at 502-516 Flushing Avenue, 22-30 Nostrand Avenue, 36 Nostrand Avenue and 1-15 Warsoff Place.
- Industrial and storage space
- 38K SF
- Floors
- 3
- Year built
- 1931
- Zoning
- M1-2
The 12th largest of the 15 industrial and storage buildings we track in Bed-Stuy. Compare it with 6 neighbors
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Compared with its neighbors
How 502 Flushing Avenue compares
Next to the 6 nearest large industrial and storage buildings, all within a 7 minute walk, 502 Flushing Avenue ranks 6th of 7 by industrial and storage floor area. It went up in 1931; the median neighbor dates from 1948. Its estimated property tax, about $3.67 a square foot of floor area before abatements, is below the neighbors' median of $4.36.
| Building | Industrial and storage space | Floors | Built | Tax / SF |
|---|---|---|---|---|
| 502 Flushing Avenue | 38K SF | 3 | 1931 | $3.67 |
| 18 Warsoff Place | 78K SF | 2 | 1930 | $1.33 |
| 39 Walworth Street | 70K SF | 1 | 1964 | $3.73 |
| 544 Park Avenue | 288K SF | 5 | 1959 | $4.40 |
| 72 Franklin Avenue | 53K SF | 3 | 1938 | $4.81 |
| 156 Sandford Street | 38K SF | 4 | 1959 | $4.32 |
| 151 Sandford Street | 38K SF | 3 | 1918 | $4.41 |
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
- 502-516 Flushing Avenue; 22-30 Nostrand Avenue; 36 Nostrand Avenue; 1-15 Warsoff Place
- ZIP code
- 11205
- Building type
- Factory and industrial building (city class F5)
- Total floor area
- 42,163 SF
- Commercial floor area
- 42,163 SF
- Industrial and storage
- 37,905 SF
- Height
- 3 floors
- Average floor
- About 14,100 SF (floor area divided by floors)
- Year built
- 1931
- Lot area
- 30,475 SF
- Zoning district
- M1-2
- Built FAR
- 1.38
- Max commercial FAR
- 2
- Tax lot (BBL)
- 3017180030
Nearest subway
- Flushing Av
- Myrtle-Willoughby Avs
- Lorimer St
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 Department of Finance records
Property tax and assessed value
For tax year 2026/27 the city values 502 Flushing Avenue at $3.25 million and assesses it at $1.46 million. After phase-ins and exemptions its taxable value is $1.43 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 $154,815 a year before abatements, roughly $3.67 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.
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $3,251,000
- Land market value
- $814,000
- Assessed value
- $1,462,950
- Taxable value (phased in)
- $1,427,130
- Estimated yearly tax
- About $154,815
- Tax per SF of floor area
- About $3.67
City market value by tax year
Source: NYC Department of Finance, Property Valuation and Assessment Data (2026/27 roll), 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.
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NYC Department of Buildings permits
Work permits and build-outs
The Department of Buildings issued no permits for new jobs at 502 Flushing Avenue in the 12 months to October 2026; the last one was first permitted in October 2022.
- New jobs, last 12 months
- 0
- Initial permits, last 12 months
- 0
- Newest job first permitted
- October 2022
- Interior build-outs, last 24 months
- 0
New jobs by year
Build-outs across Bed-StuyWhere NYC offices are being built out
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-09 (permits issued through 2026-10-06). A job counts once, when its first permit is issued; renewals are not new work. A build-out groups jobs on the same floors first permitted within 120 days of each other. Costs are the estimates filed with the jobs. Jobs filed before DOB NOW (in the older BIS system) are not counted. A permit is approval to do the work; it does not say who the work is for or whether it is finished.
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Questions about 502 Flushing Avenue
How big is 502 Flushing Avenue?
502 Flushing Avenue has about 42,000 square feet of floor area in total, including 38,000 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 502 Flushing Avenue built?
City records list 1931 as the year built. The building is 3 floors tall.
What other addresses does 502 Flushing Avenue have?
City records list 502-516 Flushing Avenue, 22-30 Nostrand Avenue, 36 Nostrand Avenue and 1-15 Warsoff Place on the same tax lot (BBL 3017180030) as 502 Flushing Avenue. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 502 Flushing Avenue?
502 Flushing Avenue is in ZIP code 11205, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 502 Flushing Avenue, Brooklyn, NY 11205, in Bed-Stuy.
What is the zoning at 502 Flushing Avenue?
The lot is in the M1-2 zoning district. PLUTO lists a built floor area ratio (FAR) of 1.38 and a maximum commercial FAR of 2 for this lot.
What subway station is closest to 502 Flushing Avenue?
The closest subway station to 502 Flushing Avenue is Flushing Av (the G train), about 0.2 miles away in a straight line, roughly 4 minutes on foot. Also nearby: Myrtle-Willoughby Avs (the G train), 8 min walk; Lorimer St (the J and M trains), 10 min walk. Walking times are straight-line estimates; the street route is longer.
Is there construction at 502 Flushing Avenue?
The Department of Buildings issued no permits for new jobs at 502 Flushing Avenue in the 12 months to October 2026; the last one was first permitted in October 2022. These are the Department of Buildings' DOB NOW work permits for tax lot 3017180030. A permit is approval to do the work; it does not say who the work is for or whether it is finished.
What are the property taxes at 502 Flushing Avenue?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $1.43 million for 502 Flushing Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $154,815 a year, roughly $3.67 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 3017180030 show the actual bill.
What is the assessed value of 502 Flushing Avenue?
For tax year 2026/27, the NYC Department of Finance puts the market value of 502 Flushing Avenue at $3.25 million ($814,000 of it land) and its assessed value at $1.46 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 18% from 2022/23 ($2.75 million) to 2026/27.
Is there industrial and storage space for lease at 502 Flushing Avenue?
No space at 502 Flushing 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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Bed-Stuy
Transit hubs in Bed-Stuy
- A C at Nostrand Av
- C at Kingston-Throop Avs
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