New York City  »  11218  »  Ocean Pkwy  »  488 Ocean Pkwy

488 Ocean Parkway, Brooklyn, NY 11218 - Property report

Also known as: 482-488 Ocean Pkwy

Property image for 488 Ocean Parkway, Brooklyn, NY 11218
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Property type

Elevator Apartments Cooperatives Building (Other than Condominiums) (XD4)

Year built

1958

Lot sq. ft.

12,000

General information

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Address
Primary address
488 Ocean Parkway
Alternate address(es)
482-488 Ocean Pkwy
ZIP code
11218
Neighborhood
Kensington
Borough
Brooklyn
Block & lot
05389-0041

Owner

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Building
Property type
Elevator Apartments Cooperatives Building (Other than Condominiums) (XD4)
Building sq. ft.
43,116
Building dimensions
80 ft x 99.67 ft
Buildings on lot
1
Stories
6
Year built
1958
Sales
Sale date
07/16/2004
Sale price
$74,000
Tax
Tax year
2026-2027
Property tax
$143,479
Tax class
Floor area ratio (FAR)
Commercial FAR
Residential FAR
Buildable area
Zoning & Use
Zoning
Qualified opportunity zone
Residential units
49
Residential sq. ft.
Commercial units
0
Office sq. ft.
Retail sq. ft.
Lot
Frontage(s)
Ocean Parkway (wide)
Distance to wide street
Lot dimensions
80 ft x 150 ft
Lot sq. ft.
12,000

Area overview

Walk score
78 /100.  Very Walkable
Transit score
96 /100.  Rider's Paradise
Bike score
82 /100.  Very Bikeable
School district
20
Community district
12
Closest police station
0.41 Miles
Closest fire station
0.41 Miles

View more such as transportation, nearby schools and risk designations.

Units for 488 Ocean Parkway, Brooklyn, NY

Unit Sale date Sale price Sq. ft. Price/Sq. ft.
Unit 1A
Unit 1B 11/02/2006
Unit 1C
Unit 1E 04/09/2013 750
Unit 1G
Unit 1H 01/19/2021 600
Unit 27
Unit 2A 11/28/2005
Unit 2B
Unit 2C
Unit 2E 06/04/2024 850
Unit 2F
Unit 2G 04/07/2020 750
Unit 2H
Unit 3B
Unit 3C 02/23/2023 860
Unit 3D 01/15/2015
Unit 3F 06/24/2025
Unit 3G 07/16/2018 719
Unit 3H
Unit 4A 02/24/2006 890
Unit 4B
Unit 4C
Unit 4D 10/27/2024
Unit 4E 05/10/2018 900
Unit 4F
Unit 4G
Unit 4H
Unit 5A 09/23/2021 1,100
Unit 5B 06/13/2011
Unit 5C 09/26/2024
Unit 5D 11/29/2022 550
Unit 5E 06/11/2026 850
Unit 5F 07/07/2004
Unit 5G 08/19/2025 850
Unit 5H 550
Unit 6A 05/05/2011
Unit 6B 05/17/2022
Unit 6C 08/06/2018
Unit 6D 09/09/2015 560
Unit 6E
Unit 6F 08/04/2022 750
Unit 6G 07/29/2021 800
Unit 6H
Unit GROUND
Ownership

Ownership information for 488 Ocean Parkway, Brooklyn, NY

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Property owner name
Registered owner
Source
Deed
Owner contact information
Phone number
Owner address
Documents

Sales history for 488 Ocean Parkway, Brooklyn, NY 11218

No recently recorded sales for this property.

More about New York City property records.

Title documents

Date Type Amount Party 1 Party 2
01/21/2021 - R UCC3 Termination
(2021012000949001)		 XXXXXXXX XXXXXXX XXXX XX XXXXXXX XXX XXXXXXXX XXXXXXXX XXXX
08/24/2016 - R UCC3 Continuation
(2016082301270001)		 XXXXXXXX XXX XXX XXXX XXXXXXXXX XXXX
08/24/2016 - R UCC3 Continuation
(2016082301269001)		 XXXXXXXX XXX XXX XXXX XXXXXXXXX XXXX
04/24/2013 - R UCC3 Amendment
(2013041900552001)		 XXXXXXX XXXXXXXXXX XX XXX XXXXXXXXX XXXX
08/15/2012 - R UCC3 Termination
(2012073100969001)		 XXXXXXXX XXXXX XXXXXXXX XXXXXXX XXXX
10/11/2011 - R Initial UCC1
(2011092701172005)		 XXXXXXXX XXX XXX XXXX XXXXXXXXX XXXX
10/11/2011 - R Initial UCC1
(2011092701172004)		 XXXXXXXX XXX XXX XXXX XXXXXXXXX XXXX
11/29/2011 - R
09/26/2011 - D		 Assignment of Leases and Rents
(2011101000211002)		 XXXXXXXX XXX XXX XXXX XXXXXXXXX XXXX
11/29/2011 - R
09/26/2011 - D		 Agreement
(2011101000211001)		 XXXXXXXX XXX XXX XXXX XXXXXXXXX XXXX
10/11/2011 - R
09/26/2011 - D		 Mortgage
(2011092701172003)		 XXXXXXXX XXX XXX XXXX XXXXXXXXX XXXX

*Most recent recorded documents on file for this property.

R: Recorded date
D: Document date

Tax

Property taxes for 488 Ocean Parkway, Brooklyn, NY

Property tax data includes tax amount, market value and assessed value, exemptions, abatements and assessment history.

Current property tax
Tax year
2025-2026
Property tax
$143,479
Municipal exemptions
Recent tax assessments
Market value
$3,183,000
Assessed value
$1,432,350

More about New York City property taxes

Assessment history

See the assessment and property tax history, including the evolution of the total tax rate and corresponding property tax amount.

Tax year Market value Assessed value Taxable amount Tax rate Base tax Property tax Y-o-Y change
2025/26 $3,674,000 $1,653,300 $1,408,680 12.439% $177,789 $140,678 +4.53%
2024/25 $3,214,000 $1,446,300 $1,364,960 12.5% $173,576 $134,585 -1.91%
2023/24 $3,146,000 $1,415,700 $1,364,170 12.502% $173,739 $137,212 +3.78%
2022/23 $3,060,000 $1,377,000 $1,326,990 12.267% $166,300 $132,209 +11.42%
2021/22 $2,787,000 $1,254,150 $1,219,710 12.235% $153,445 $118,659 -23.64%
2020/21 $3,222,000 $1,449,900 $1,266,720 12.267% $159,786 $155,389 +4.15%
2019/20 $3,226,000 $1,451,700 $1,196,160 12.473% $153,556 $149,197 +6.52%
2018/19 $2,768,000 $1,245,600 $1,110,570 12.612% $145,009 $140,065 +3.62%
2017/18 $2,698,000 $1,214,100 $1,062,710 12.719% $139,806 $135,166 +10.18%
2016/17 $2,559,000 $1,151,550 $951,540 12.892% $127,541 $122,673 +13.05%
Permits

Permit information for 488 Ocean Parkway, Brooklyn, NY

Filing date Job type Job status Job description Initial cost
07/27/2023 Alteration
01/16/2023 Alteration
01/16/2023 Alteration
09/22/2010 Alteration type 3
08/20/2010 Alteration type 2

*Most recent permits on record for this property.

More about New York City property records

Violations

HPD Violations

Violation ID Inspection date Class NOV issue date Status
08/07/2025 C
08/07/2025 C
08/07/2025 C

*Most recent HPD violations on record for this property.

Neighborhood

Kensington, Ocean Parkway residential market stats

Access a detailed real estate market overview of Kensington, Ocean Parkway so you can assess current trends, home values, types of properties sold and transaction volume. View the median home sale price in Kensington, Ocean Parkway and compare it to other neighborhoods in Brooklyn.

Median sale price

—

Median price/sq. ft.

—

Brooklyn median sale price

$899,000

6% Y-o-Y

Check out recently sold homes in Brooklyn and see how their prices compare.

Risk

Create a free account to unlock expanded risk information, such as crime incidents in the area, tsunami and landslides risks, or its location relative to FEMA flood zones and the Coastal Barriers Resources System Area (COBRA).

FEMA flood zones

Property location map
FEMA flood zones
X

Hurricane evacuation zones

Property location map
Hurricane evacuation zones
-

Subway & traffic

Closest station
McDonald Ave & Ditmas Ave at SE Corner
Station lines
F
Distance (miles)
0.247
View subway map

Access the detailed traffic volume map for 488 Ocean Parkway, Brooklyn, NY 11218 to see estimated average daily traffic on streets surrounding the property as well as the types of properties in its vicinity. View daily traffic map

Schools

Nearest elementary schools

Name Rating Att. zoned Type Grade range No of students Distance (miles)
P.S. 179 Kensington 5 Yes Public PK, K-5 668 0.32
P.S. 179 Kensington 5 Yes Public PK, K-5 668 0.32
Yeshiva & Mesivta Torah Temimah NR No Private PK, K-12 622 0.13
Yeshiva & Mesivta Torah Temimah NR No Private PK, K-12 622 0.13
Mavakshai Hashem NR No Private PK-8 475 0.14
Mavakshai Hashem NR No Private PK-8 475 0.14
Mevakshai Hashem NR No Private PK-8 572 0.14
P.S. 134 9 No Public K-5 493 0.30
Nearest middle schools

Name Rating Att. zoned Type Grade range No of students Distance (miles)
Jhs 62 Ditmas 7 Yes Public 6-8 900 0.16
Yeshiva & Mesivta Torah Temimah NR No Private PK, K-12 622 0.13
Mavakshai Hashem NR No Private PK-8 475 0.14
Mevakshai Hashem NR No Private PK-8 572 0.14
Yeshiva Torah Vodaath NR No Private K-8 0 0.23
Bonim Lamokom NR No Private 35 0.24
Brooklyn Dreams Charter School 6 No Charter K-8 616 0.36
Nearest high schools

Name Rating Att. zoned Type Grade range No of students Distance (miles)
Yeshiva & Mesivta Torah Temimah NR No Private PK, K-12 622 0.13
Torah Vodaath High School NR No Private 9-12 0 0.23
Bonim Lamokom NR No Private 35 0.24
Yeshiva Nesivas Chaim NR No Private 9-12 0 0.25
Yeshiva Gedolah of Midwood NR No Private 9-12 0 0.27
Urban Assembly School for Leadership and Empowerment 7 No Public 6-12 495 0.46

Data provided by GreatSchools.org © 2026. All rights reserved.

Neighbors for 488 Ocean Parkway, Brooklyn, NY

649 E 5th St, Brooklyn 619 E 5th St, Brooklyn 462 Ocean Pkwy, Brooklyn 490 Ocean Pkwy, Brooklyn 501 Ditmas Ave, Brooklyn 468 Ocean Pkwy, Brooklyn 450 Ocean Pkwy, Brooklyn 430 Ocean Pkwy, Brooklyn 623 E 5th St, Brooklyn 411 Ditmas Ave, Brooklyn 645 E 5th St, Brooklyn 617 E 5th St, Brooklyn 637 E 5th St, Brooklyn 470 Ocean Pkwy, Brooklyn 464 Ocean Pkwy, Brooklyn 577 E 4th St, Brooklyn 641 E 5th St, Brooklyn 621 E 5th St, Brooklyn 466 Ocean Pkwy, Brooklyn 438 Ocean Pkwy, Brooklyn

Nearby ZIP codes for 488 Ocean Parkway, Brooklyn, NY

11201, New York City, NY 11203, New York City, NY 11204, New York City, NY 11205, New York City, NY 11210, New York City, NY 11213, New York City, NY 11214, New York City, NY 11215, New York City, NY 11216, New York City, NY 11217, New York City, NY 11219, New York City, NY 11220, New York City, NY 11223, New York City, NY 11225, New York City, NY 11226, New York City, NY 11228, New York City, NY 11230, New York City, NY 11231, New York City, NY 11232, New York City, NY 11238, New York City, NY

Frequently asked questions

What is the year built for 488 Ocean Parkway, Brooklyn, NY 11218?

The development at 488 Ocean Parkway, Brooklyn, NY 11218 was built in 1958.

What is the total square footage of 488 Ocean Parkway, Brooklyn, NY 11218?

488 Ocean Parkway, Brooklyn, NY 11218 has a total of 43,116 square feet.

What is the assessed value of 488 Ocean Parkway, Brooklyn, NY 11218?

488 Ocean Parkway, Brooklyn, NY 11218 is currently assessed at $1,432,350.

What are the property taxes for 488 Ocean Parkway, Brooklyn, NY 11218?

The property taxes for 488 Ocean Parkway, Brooklyn, NY 11218 total $174,866.

How many residential units does this building have?

This building has 49 residential unit(s).

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