Brooklyn
Commercial space in Mill Basin
Mill Basin's commercial center is Kings Plaza, the two-level shopping mall that opened in 1970 at Flatbush Avenue and Avenue U on the Mill Basin waterfront, with big-box stores along Avenue U and Flatbush Avenue around it. A second shopping center sits on Ralph Avenue at Avenue K, about a mile north. There is no subway: the B41, B46 and B47 buses end at Kings Plaza, the Q35 continues across the Marine Parkway Bridge to the Rockaways, and the Belt Parkway is next door.
- Commercial properties
- 132
- Retail stock
- 2.0M SF
- Median year built
- 1960
- Known for
- Retail, Restaurant
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 Mill Basin
What already stands here, from the city's own property data. Useful for sizing a search before a single space is listed.
- Commercial properties
- 132
- Office space
- 200K SF
- Retail space
- 2.0M SF
- Built before 1940
- 21%
Largest retail buildings
All 5 large commercial buildings in Mill BasinAge, height and zoning
- Median year built: 1960.
- Median height: 2 floors.
- Most common zoning districts: C8-1 (39), R4 (27), R5 (25).
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-05. Counts cover tax lots with commercial floor area within about 0.4 mi of Mill Basin's 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 Mill Basin
One sale of the large commercial buildings Leasemark tracks in Mill Basin has been recorded since 2016, $85 million in all.
Newest sales
Since 2016
- Largest: 2183 Ralph Avenue, $85 million for 3 tax lots in November 2019.
- Newest deed on record: November 2019. 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 Mill Basin
Of the 5 large commercial buildings Leasemark tracks in Mill Basin, 5 carry property tax on the city's 2026/27 assessment roll. Their median estimated tax is about $9.53 per square foot of floor area a year, before abatements.
Largest estimated bills
Across 5 taxed buildings
- The middle half pay between $8.16 and $11.89 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 $239 a square foot. That is the city's valuation for tax, not a sale price.
24th 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).
NYC Department of Buildings permits
Interior build-outs in Mill Basin
In the 12 months to October 2026, the Department of Buildings issued first permits for 7 interior build-outs in 3 of the 5 large commercial buildings Leasemark tracks in Mill Basin, with work permitted on 3 floors in all. Their filed cost estimates add up to about $5.2 million.
Most build-outs, last 12 months
- 60% of the buildings tracked here had a build-out, against 25% across Brooklyn.
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-05 (permits issued through 2026-10-02). A build-out groups interior jobs (construction, mechanical, plumbing, sprinklers and the like) on the same floors first permitted within 120 days of each other, dated by its first permit. Only the large buildings Leasemark tracks count (50,000 SF and up), not every permit in the neighborhood. Costs are the estimates filed with the jobs. A permit does not say who the work is for.
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Questions about Mill Basin
How much commercial space is there in Mill Basin?
New York City's PLUTO tax lot data (26v2) records about 4 million square feet of commercial floor area across 132 properties in the part of Mill Basin Leasemark covers, including about 200,000 square feet of office and about 2 million square feet of retail. The largest retail building by that measure is 5120 Avenue U, at about 1.3 million square feet. That is the existing building stock, not space currently available.
When did a large commercial building in Mill Basin last sell?
The newest sale on record is 2183 Ralph Avenue, which sold in November 2019 for $85 million (3 tax lots together) to FR GEORGETOWNE, LLC, per the deed recorded with the city. It is the only sale of the large commercial buildings Leasemark tracks in Mill Basin since 2016.
How much are commercial property taxes in Mill Basin?
On the Department of Finance's 2026/27 assessment roll, the 5 large commercial buildings Leasemark tracks in Mill Basin that pay property tax come to a median of about $9.53 per square foot of floor area a year, with the middle half between $8.16 and $11.89. 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 Kings Plaza, 5120 Avenue U, about $15.5 million a year. Many office leases pass a tenant's share of increases over a base year through as additional rent.
How much build-out work is happening in Mill Basin?
In the 12 months to October 2026, the Department of Buildings issued first permits for 7 interior build-outs in 3 of the 5 large commercial buildings Leasemark tracks in Mill Basin, with work permitted on 3 floors in all. Their filed cost estimates add up to about $5.2 million. The most were at Kings Plaza, 5120 Avenue U (5 build-outs). A build-out here is interior work on the same floors (construction, mechanical, plumbing, sprinklers and the like) first permitted within 120 days. New interior work usually follows a lease, so it is a rough sign of where tenants are moving in, but a permit does not say who the work is for.
Do tenants in Mill Basin 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 Mill Basin 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
- B41 B46 B47 buses at Kings Plaza
- Q35 bus to the Rockaways
- Belt Parkway