Brooklyn
Commercial space in Flatlands
Flatlands' commercial stock is mostly industrial: warehouse, self storage and light manufacturing buildings on Glenwood Road, Foster Avenue and Utica Avenue, where Flatlands meets East Flatbush, inside the city's Flatlands/Fairfield Industrial Business Zone, which continues east into Canarsie. Kings Highway carries newer big-box retail. There is no subway stop in the district: the B46 runs up Utica Avenue, and the nearest train is the 2 and 5 at Flatbush Avenue-Brooklyn College, about a mile west.
- Commercial properties
- 333
- Industrial stock
- 1.4M SF
- Median year built
- 1953
- Known for
- Industrial, Flex / Creative, Retail
Building figures are existing stock from NYC PLUTO 26v2 tax lot records, not space on the market. More below.
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NYC tax lot records
The building stock in Flatlands
What already stands here, from the city's own property data. Useful for sizing a search before a single space is listed.
- Commercial properties
- 333
- Office space
- 205K SF
- Retail space
- 449K SF
- Built before 1940
- 34%
Largest industrial and storage buildings
All 7 large commercial buildings in FlatlandsAge, height and zoning
- Median year built: 1953.
- Median height: 1 floor.
- Most common zoning districts: M1-1 (207), C8-1 (59), R4 (43). 65% of these lots are zoned for manufacturing.
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-05. Counts cover tax lots with commercial floor area within about 0.5 mi of Flatlands' commercial core, and each lot counts toward one neighborhood only, so boundaries are approximate. Building figures are the city's floor-area estimates, not available space.
NYC property records (ACRIS)
Recent building sales in Flatlands
2 sales of the large commercial buildings Leasemark tracks in Flatlands have been recorded since 2016, $47 million in all.
Newest sales
Since 2016
- Largest: 5601 Foster Avenue, $24.8 million for 2 tax lots in April 2023.
- Newest deed on record: April 2023. The city's open data runs about a month behind.
Source: NYC Department of Finance, ACRIS, Real Property Master, Legals and Parties, pulled 2026-10-05; prices as the deeds state them, buyers named only when they are companies. These are sales of the large buildings Leasemark tracks, not every sale here: condo buildings (sold unit by unit), partial interests and sales of the company that owns a building are left out.
NYC Department of Finance
Commercial property taxes in Flatlands
Of the 7 large commercial buildings Leasemark tracks in Flatlands, 6 carry property tax on the city's 2026/27 assessment roll. Their median estimated tax is about $7.55 per square foot of floor area a year, before abatements.
Largest estimated bills
Across 6 taxed buildings
- The middle half pay between $6.25 and $8.15 a square foot of floor area a year.
- Brooklyn median: $6.66 a square foot, across 267 large buildings Leasemark tracks.
- Median market value on the roll: about $184 a square foot. That is the city's valuation for tax, not a sale price.
- 1 building is fully exempt: 1467 Utica Avenue. Exemptions like these are common for government, nonprofit and PILOT properties.
29th highest of 51 NYC neighborhoods by tax per SFHow taxes show up in a lease
Source: NYC Department of Finance, Property Valuation and Assessment Data, 2026/27 roll, pulled 2026-10-05. Estimates are the taxable value after exemptions times the Class 4 rate of 10.848% (tax year 2025/26, the latest the city lists), divided by the building's floor area in PLUTO. They leave out abatements such as ICAP, payment-in-lieu-of-taxes agreements and charges, so actual bills differ. Large buildings only (50,000 SF and up in Brooklyn).
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Questions about Flatlands
How much commercial space is there in Flatlands?
New York City's PLUTO tax lot data (26v2) records about 3 million square feet of commercial floor area across 333 properties in the part of Flatlands Leasemark covers, including about 205,000 square feet of office and about 449,000 square feet of retail. The largest industrial and storage building by that measure is 1476 Utica Avenue, at about 100,000 square feet. That is the existing building stock, not space currently available.
When did a large commercial building in Flatlands last sell?
The newest sale on record is 5601 Foster Avenue, which sold in April 2023 for $24.8 million (2 tax lots together) to FOSTER AVENUE SELF STORAGE OWNER, LLC, per the deed recorded with the city. 2 sales, $47 million in all, have been recorded of the large commercial buildings Leasemark tracks in Flatlands since 2016.
How much are commercial property taxes in Flatlands?
On the Department of Finance's 2026/27 assessment roll, the 6 large commercial buildings Leasemark tracks in Flatlands that pay property tax come to a median of about $7.55 per square foot of floor area a year, with the middle half between $6.25 and $8.15. That is the taxable value after exemptions times the Class 4 rate of 10.848% (tax year 2025/26, the latest the city lists), before abatements such as ICAP. The largest estimated bill is 5200 Kings Highway, about $862,579 a year. 1 more building is fully exempt. Many office leases pass a tenant's share of increases over a base year through as additional rent.
Do tenants in Flatlands pay the NYC Commercial Rent Tax?
No. The Commercial Rent Tax only applies to space in Manhattan below 96th Street. It was repealed for Brooklyn, so a commercial lease in Flatlands does not pay it at any rent.
Is it free to post on Leasemark?
Yes. Posting a space or a requirement is free. Contact details are only shared when both sides accept an intro.
Getting there
- B46 bus on Utica Av
- 2 5 at Flatbush Av-Brooklyn College
- Belt Parkway