Low property tax?

1-3 family is a special tax class with a tax increase cap of 20% every five year. If an area was undesirable in the past, the tax base started off as very low and due to caps, the taxes never went up much. BK has many townhouses in much nicer areas that this property with 5k per year taxes. In addition, the DOF likes to screw 4 and 4 plus unit multi-family buildings (rental, condos and coops) the most in their assessments.

Interesting previous listing called it mixed use.

Looks like it may have been a gallery or still is a gallery or some sort of work /live space. Many years ago I lived at 633 East 6th Street, this could have previously been a typical six-story tenement building. Totally guessing, I haven't looked this up. In the '80s I had a couple of friends who actually participated in the homesteading program and bought properties for a dollar in the East Village, I wonder how those properties are taxed?

It is being taxed as S1 (store plus 1 family) which is the same real estate tax treatment as 1-3 family.