The Real Deal New York

Value of de Blasio’s home doubled under Bloomberg admin

January 17, 2014 11:45AM

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