1251 EAST 40 STREET
1251 EAST 40 STREET is a Class A1 (one-family two-story) building in Brooklyn (BBL 3078130023) built in 1915, with 1 residential unit across 2 floors.
The building is in NYC community district 318, council district 45, zoning district R5, on a 1,336-square-foot lot with a building footprint of 1,520 square feet.
The current registered owner of record per NYC PLUTO is THE PAYAN REVOCABLE TRUST.
The most recent ACRIS deed transfer for this BBL was recorded on October 15, 2025 when HENRY-PAYAN, JOSETTE; PAYAN, LEONARD J. conveyed the property to LEONARD J. PAYAN, AS TRUSTEE; THE PAYAN REVOCABLE TRUST; JOSETTE HENRY-PAYAN, AS TRUSTEE for a non-disclosed consideration. The transaction was recorded as cash (no paired mortgage instrument).
Data sourced daily from NYC PLUTO (Department of City Planning), NYC ACRIS (Department of Finance), and NYC HPD housing-maintenance code violations.
Owner of record
Most recent deed
Recent ACRIS documents (last 2)
Building stats
- Zoning:
- R5
- Lot size:
- 1,336 sqft
- Building area:
- 1,520 sqft
- Floors:
- 2
- Assessed value:
- $48K
- Community district:
- 318
- Council district:
- 45
HPD violations
Recent HPD violation details
Recent ACRIS activity
Frequently asked questions about 1251 EAST 40 STREET
Who owns 1251 EAST 40 STREET?
The current registered owner of record for 1251 EAST 40 STREET per NYC PLUTO is THE PAYAN REVOCABLE TRUST. The most recent ACRIS deed transfer for this BBL was recorded on October 15, 2025 when the property was conveyed to LEONARD J. PAYAN, AS TRUSTEE; THE PAYAN REVOCABLE TRUST; JOSETTE HENRY-PAYAN, AS TRUSTEE. PLUTO ownership is refreshed monthly by NYC Department of Finance; the registered owner may not reflect transactions recorded within the last 30 days.
When was 1251 EAST 40 STREET last sold?
The most recent ACRIS deed transfer for 1251 EAST 40 STREET was recorded on October 15, 2025, when HENRY-PAYAN, JOSETTE; PAYAN, LEONARD J. conveyed the property to LEONARD J. PAYAN, AS TRUSTEE; THE PAYAN REVOCABLE TRUST; JOSETTE HENRY-PAYAN, AS TRUSTEE for a non-disclosed consideration. The transaction was recorded as cash (no paired mortgage instrument).
How many HPD violations does 1251 EAST 40 STREET have?
No open HPD housing-maintenance code violations are on record for 1251 EAST 40 STREET. The building is not registered with NYC HPD's landlord-registration system, which is typical for owner-occupied 1-2 family dwellings. HPD violation data is pulled daily from the NYC Open Data violations feed.
What is the assessed value of 1251 EAST 40 STREET?
NYC Department of Finance assesses 1251 EAST 40 STREET at $48K for the current tax year. NYC assesses property at a fraction of estimated market value (the assessment ratio varies by tax class — 6% for tax class 1 one-to-three-family dwellings, approximately 45% for tax class 2 rental apartment buildings), so the market value implied by this assessment is meaningfully higher. Assessment data is published by NYC Department of Finance.
What building class is 1251 EAST 40 STREET and what does that mean?
1251 EAST 40 STREET is NYC building class A1 — One-family two-story. A single-family detached two-story dwelling. Building class is assigned by NYC Department of Finance and recorded in PLUTO; it determines the property's tax class and the regulatory regime that applies.