The Real Deal New York

Value of de Blasio’s home doubled under Bloomberg admin

January 17, 2014 11:45AM

de-blasio-taxes

442 11th Street in Park Slope and Mayor de Blasio

Mayor Bill de Blasio’s Park Slope townhouse doubled in value over the last eight years — while Mayor Michael Bloomberg was in office — according to tentative assessment rolls from the city’s Finance Department released this week.

His single-family home on 11th Street in Brooklyn was worth $674,600 during the 2006-2007 fiscal year. Its value has ballooned to $1.4 million in the 2014-2015 fiscal year valuation, also a 19 percent increase from $1.18 million last year. Throughout the Brooklyn neighborhood, the median property value rose 17 percent year-over-year. The year-over-year average for Brooklyn overall was a 7 percent climb.

In the past, de Blasio has failed to properly disclose tens of thousands of dollars in rental income at the 11th Street townhouse. De Blasio also pays less in property taxes on his own home than many other owners of cheaper properties in the city, as previously reported.

Last month, he committed to temporarily moving with his family into the Gracie Mansion at East End Avenue and 88th Street in Yorkville. [NYP]Mark Maurer

4 Responses to “Value of de Blasio’s home doubled under Bloomberg admin”

  1. January 17, 2014 at 1:47 pm, Buildings Department said:

    Can anyone explain how this townhouse was altered from a two family
    to a one family residence without approved plans or permits from the
    Buildings Department? Is Mayor de Blasio above the law?

    • January 17, 2014 at 4:39 pm, joannanyc said:

      You don’t need a permit from the Buildings Dept to use a 2-family as a one family. That’s probably why.

      • January 18, 2014 at 5:58 pm, guest said:

        Of course, one needs a permit to alter a two family building.

  2. January 17, 2014 at 5:28 pm, want accuracy and fairness said:

    The Real Deal presents propaganda instead of news when it declares that De Blasio “failed to report income” without also clarifying in the same article that there was no net income and therefore no impact on tax liability. Why does TRD imply corrupt motives in a situation where there clearly weren’t any. As for property taxes, many real estate professionals are aware that co-ops and condos typically cost more in property taxes per square foot than 2 family houses. Yet TRD frames this fact as if De Blasio was cheating the system. BTW, I’m NOT a De Blasio supporter but as a reader I find these deficiencies in journalistic integrity quite offensive.

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