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    II & III Hudson Vw New York, NY 10031
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    II & III Hudson Vw New York, NY 10031

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    • Retail properties & Spaces
    • 11,660 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for II & III Hudson Vw

    Property size
    11,660 SF
    Property type
    Retail properties & Spaces

    Description

    This exceptional investment opportunity encompasses eight buildings comprising the Hudson View II & III portfolio in the vibrant Harlem neighborhood of New York City (zip code 10031). The portfolio features a total of 280 units across approximately 142,690 square feet of retail space, strategically located across multiple addresses including 520 W 145th St, 528 W 145th St, 1704 Amsterdam Ave, and 502 W 145th St. The property boasts significant retail frontage exceeding 200 feet along Amsterdam Avenue, a major Manhattan retail thoroughfare. A key component of this offering is the inclusion of 129 project-based Section 8 voucher units, supported by mark-up-to-market HAP agreements with a 5-year term. These agreements include automatic lease increases of 3%-4% upon expiration, ensuring consistent revenue growth. The portfolio also includes 11 commercial units, adding to the diverse income stream. Available air rights total 8,248 square feet, presenting potential for future development. The properties are zoned R7D/C2-4, R7D/R7A/C1-4/C2-4, allowing for a variety of uses. The lot sizes range from 2,898 to 30,077 square feet. The buildings are two to twenty-one stories high. This portfolio presents a compelling investment opportunity with strong historical cash flow and significant upside potential. Note that an expiring Article V Shelter Rent Tax agreement is in place. The buildable square footage, as-of-right, varies across the properties, ranging from 12,170 to 124,220 square feet. Bidding deadline is Thursday, December 5th, 2024.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9507
    Latitude
    40.827

    Comparable in this City

    • Value Estimation by Request

      3415 Broadway

      Retail properties & Spaces
      3415 Broadway, New York, NY 10031
      View Details
    • Value Estimation by Request
      13,507 SF

      345 145Th St

      Medical Office Space • 13,507 SF
      345 145Th St, New York, NY 10031
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    • Value Estimation by Request
      14,000 SF

      752 St Nicholas Ave

      Retail properties & Spaces • 14,000 SF
      752 St Nicholas Ave, New York, NY 10031
      View Details
    • Value Estimation by Request
      800 SF

      1711 Amsterdam Ave

      Retail properties & Spaces • 800 SF
      1711 Amsterdam Ave, New York, NY 10031
      View Details
    • Value Estimation by Request
      400 SF

      608 139Th St

      Retail properties & Spaces • 400 SF
      608 139Th St, New York, NY 10031
      View Details
    • Value Estimation by Request
      14,000 SF

      752 St Nicholas Ave

      Retail properties & Spaces • 14,000 SF
      752 St Nicholas Ave, New York, NY 10031
      View Details

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    New York, NY 10031
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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