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Property profile & analytics
OFF-MARKET
Estimated value
$1,530,000
Hotels
1 Central W Park 500, New York, NY 10023-7703
Entity Owned
Free & Clear
Property ID
US63-3687314
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Total area
1,340 SF
Zoning code
C6-6
APN
01113-1232
UPID
US63-3687314
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Adorned Pet (Bike/Boat/Book/etc) Store Pet Store
-
Nougatine by Jean-Georges Restaurant
-
Jean-Georges Restaurant
-
The Trump Spa Spa & Massage Center
-
Trump International Hotel & Tower New York Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.84M
Blend (final)
Blend
$1.53M
Owner & transaction history
Ngg Ventures LLC
Ngg Ventures LLC
since 2025
Last sale
$2.1M
4 recorded transactions
Zoning & alternative use
C6-6 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.8M
+53.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs New York submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New York submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$1,150,000
Current use
RETAIL STORES
$1,760,000
Change: +53% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,095,000
Change: -5% · Conversion: Difficult
Blend value · Realmo final
$1.53M
Range $1.38M – $1.68M · ±10% · vs last sale $2.10M (Aug 11 2025)
Last sale anchor
$2.10M
Aug 11 2025
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,142 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$42,259
Tax year 2024
Assessed value
$398,973
Assessed 2024
Previous assessed
$390,041
+2.3% YoY
Effective rate
10.59%
On assessed value
Assessed land
$68,721
Assessed improvement
$330,252
Land market value
$152,714
Improvement market value
$918,577
Total market value
$1,071,291
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Hotels
Use group
HOTEL
Status
Off-Market
Heating
NONE
Buildings
1
Stories
44
Units
1
Total area
1,340 SF
Zoning code
C6-6
APN
01113-1232
UPID
US63-3687314
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-6 · New York, NY
Zoning C6-6 · permitted uses
C6-6 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New York. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
HOTEL/MOTEL Current
Est. value
$1.2M
RETAIL STORES
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.1M
HOTEL/MOTEL Current
RETAIL STORES
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Heating
NONE
Stories
44
Buildings
1
Units
1
Current owner
From public records · entity-resolved
Ngg Ventures LLC
Entity
Free & Clear · 0 yrs held
Mailing address
800 THE MARK LN, SAN DIEGO, CA 92101-7142
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2025
$2,100,000
Ngg Ventures LLC
Paradeview 500, LLC
Deed
—
Jun 12, 2020
—
Paradeview500 LLC
—
Deed
related
$1,215,000 · Ubs Bank USA
Dec 20, 2019
—
Paradeview500 LLC
Realty 24 S P Trust
Warranty Deed
—
Aug 25, 1998
$761,000
24 Straws Point Realty Trust
One Central Park West Pt
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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