Brooklyn
Commercial space in Sheepshead Bay
Sheepshead Bay's best-known commercial strip is Emmons Avenue on the bay, lined with seafood restaurants across from the piers where fishing boats tie up, with neighborhood shops on Sheepshead Bay Road by the B and Q station. Larger retail, office and warehouse buildings sit on Nostrand Avenue, Ocean Avenue and Knapp Street, which meets the Belt Parkway.
- Commercial properties
- 452
- Retail stock
- 1.5M SF
- Median year built
- 1935
- 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 Sheepshead Bay
What already stands here, from the city's own property data. Useful for sizing a search before a single space is listed.
- Commercial properties
- 452
- Office space
- 1.0M SF
- Retail space
- 1.5M SF
- Built before 1940
- 51%
Largest retail buildings
All 10 large commercial buildings in Sheepshead BayAge, height and zoning
- Median year built: 1935.
- Median height: 2 floors.
- Most common zoning districts: R4 (179), C4-2 (76), R5 (60).
- 1 lot is designated city landmarks.
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-16. Counts cover tax lots with commercial floor area within about 0.6 mi of Sheepshead Bay'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.
MTA station data
Subway stations in Sheepshead Bay
Every station within about 0.6 mi of Sheepshead Bay's commercial core, closest first. Stations joined by a free transfer count once.
- Stations
- 1
- Subway lines
- 2
- Fully accessible
- 1 of 1
- Closest
- Sheepshead Bay, 10 min walk
The station
- Sheepshead Bay
Lines
The B and Q trains stop within about 0.6 mi of Sheepshead Bay's core.
Step-free access
- Sheepshead Bay (B Q) is fully accessible.
Source: Metropolitan Transportation Authority, MTA Subway Stations, pulled 2026-10-16. Walking times are straight-line estimates from the nearest point of Sheepshead Bay's commercial core (the same area as the building counts), so the street route is longer. Accessibility is the MTA's rating for the named station. PATH, LIRR, Metro-North and ferries are not in this data.
NYC property records (ACRIS)
Recent building sales in Sheepshead Bay
2 sales of the large commercial buildings Leasemark tracks in Sheepshead Bay have been recorded since 2016, $65.9 million in all.
Newest sales
Since 2016
- Largest: 3861 Nostrand Avenue, $38.3 million in December 2018.
- Newest deed on record: August 2019. The city's open data runs about a month behind.
Source: NYC Department of Finance, ACRIS, Real Property Master, Legals and Parties, pulled 2026-10-16; 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 Sheepshead Bay
Of the 10 large commercial buildings Leasemark tracks in Sheepshead Bay, 10 carry property tax on the city's 2026/27 assessment roll. Their median estimated tax is about $8.71 per square foot of floor area a year, before abatements.
Largest estimated bills
Across 10 taxed buildings
- The middle half pay between $6.76 and $10.54 a square foot of floor area a year.
- Brooklyn median: $6.14 a square foot, across 450 large buildings Leasemark tracks.
- Median market value on the roll: about $189 a square foot. That is the city's valuation for tax, not a sale price.
31st highest of 73 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 2026-10-16. 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 (35,000 SF and up in Brooklyn).
NYC Department of Buildings permits
Interior build-outs in Sheepshead Bay
In the 12 months to October 2026, the Department of Buildings issued first permits for 6 interior build-outs in 3 of the 10 large commercial buildings Leasemark tracks in Sheepshead Bay, with work permitted on 2 floors in all.
Most build-outs, last 12 months
- 30% of the buildings tracked here had a build-out, against 21% across Brooklyn.
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-24 (permits issued through 2026-10-22). 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 (35,000 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.
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.
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How a good guy guarantee works in a NYC commercial lease: what it covers, how the guarantor gets released, what to negotiate and the 2025 surrender ruling.
Retail lease terms in New York: percentage rent, escalations and more
A New York retail lease covers much more than rent. Here is what percentage rent, escalations, pass-throughs, use clauses and restaurant terms mean for you.
Questions about Sheepshead Bay
How much commercial space is there in Sheepshead Bay?
New York City's PLUTO tax lot data (26v2) records about 4.1 million square feet of commercial floor area across 452 properties in the part of Sheepshead Bay Leasemark covers, including about 1 million square feet of office and about 1.5 million square feet of retail. The largest retail building by that measure is 3861 Nostrand Avenue, at about 81,000 square feet. That is the existing building stock, not space currently available.
What subway lines serve Sheepshead Bay?
One subway station sits within about 0.6 mi of Sheepshead Bay's commercial core: Sheepshead Bay, served by the B and Q trains, roughly 10 minutes on foot. Walking times are straight-line estimates from MTA station data.
Which subway stations in Sheepshead Bay are accessible?
The one station within about 0.6 mi of Sheepshead Bay's commercial core is fully accessible, per the MTA: Sheepshead Bay (B Q).
When did a large commercial building in Sheepshead Bay last sell?
The newest sale on record is 3860 Nostrand Avenue, which sold in August 2019 for $27.6 million to ECA BULIGO NOSTRAND PARTNERS, LP, per the deed recorded with the city. 2 sales, $65.9 million in all, have been recorded of the large commercial buildings Leasemark tracks in Sheepshead Bay since 2016.
How much are commercial property taxes in Sheepshead Bay?
On the Department of Finance's 2026/27 assessment roll, the 10 large commercial buildings Leasemark tracks in Sheepshead Bay that pay property tax come to a median of about $8.71 per square foot of floor area a year, with the middle half between $6.76 and $10.54. 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 3861 Nostrand Avenue, about $936,078 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 Sheepshead Bay?
In the 12 months to October 2026, the Department of Buildings issued first permits for 6 interior build-outs in 3 of the 10 large commercial buildings Leasemark tracks in Sheepshead Bay, with work permitted on 2 floors in all. The most were at 3860 Nostrand Avenue (4 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 Sheepshead Bay 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 Sheepshead Bay 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
- B Q at Sheepshead Bay
- Q at Neck Rd
- Belt Parkway