Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    10 E 40Th St New York, NY 10016

    • Office buildings
    • 442,042 SF
    • 0.34 lot acres
    For Lease
    View listing
    Last Sale
    Oct 10, 2023
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1773984
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Cotswold Industries Inc / Industrial Manufacturer / Production Facility
    • Dorothea W. Regal / Law Firm
    • GA Dental Practice / Hypnotherapy Service / Life Coach
    • IT Craft - Software Development Outsourcing Company / (Bike/Boat/Book/etc) Store / Corporate Office
    • Big Sky Editorial Co / Film Production / Television Studio

    Property Details for 10 E 40Th St

    Year built
    1928
    Lot size
    0.34 lot acres
    Property size
    442,042 SF
    Zone code
    C52.5
    Property type
    Office buildings
    APN
    00869-0066
    APU
    8690066

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9812
    Latitude
    40.7515
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $4,309,779
    $12,375,000
    $29,920,670
    $42,295,670
    -
    $27,500,000
    $62,920,000
    $90,420,000

    Comparable in this City

    • Value Estimation
      $27,935,000
      98,847 SF

      152-156 Madison Ave

      OFFICE BUILDING (MULTI-STORY) • 98,847 SF
      152-156 Madison Ave, New York, NY 10016
      View Details
    • Value Estimation
      $7,905,000
      28,268 SF

      165 Madison Ave

      OFFICE BUILDING (MULTI-STORY) • 28,268 SF
      165 Madison Ave, New York, NY 10016-5431
      View Details
    • Value Estimation
      $3,460,000
      232,644 SF

      105 Madison Ave, Unit 117

      OFFICE BUILDING (MULTI-STORY) • 232,644 SF
      105 Madison Ave, New York, NY 10016-7418
      View Details
    • Value Estimation
      $3,565,000
      349,683 SF

      15-19 33rd St

      OFFICE BUILDING (MULTI-STORY) • 349,683 SF
      15-19 33rd St, New York, NY 10016
      View Details
    • Value Estimation
      $4,200,000
      13,475 SF

      375 5th Ave

      OFFICE BUILDING (MULTI-STORY) • 13,475 SF
      375 5th Ave, New York, NY 10016-3323
      View Details
    • Value Estimation
      $2,895,000
      11,481 SF

      1 27th St

      OFFICE BUILDING (MULTI-STORY) • 11,481 SF
      1 27th St, New York, NY 10016-8701
      View Details

    Similar Nearby for Sale

    • $4,999,950
      0.04 Acres

      Manhattan Multifamily Building Near Grand Central

      Multi-family property near Grand Central Terminal with redevelopment potential.
      115 E 39Th St, Manhattan, NY 10016
      View Details
    • Contact for pricing
      17,500 SF

      Chelsea Mixed-Use Building for Sale

      Seven-story mixed-use building in Chelsea with retail and office space.
      242 W 27Th St, New York, NY 10016
      View Details
    • $4,999,950
      6,264 SF

      Midtown Manhattan Multifamily Property

      Multi-family property near Grand Central Terminal with redevelopment potential.
      115 E 39Th St, Manhattan, NY 10016
      View Details
    • $4,999,950

      Manhattan Multifamily Building Near Grand Central

      Multifamily property near Grand Central Terminal with redevelopment potential.
      113 E 39Th St, Manhattan, NY 10016
      View Details
    • Contact for pricing
      10,000 SF

      Office Space with Natural Light

      Office space featuring hardwood floors, high ceilings, and operable windows.
      134 W 29Th St, New York, NY 10016
      View Details
    • Contact for pricing
      1,200 SF

      110 E 36th St, New York, NY

      Office Units • 1,200 SF
      110 E 36Th St, New York, NY 10016
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Iconic Midtown South Office Building

      Class-A office building in Grand Central submarket, Manhattan.
      200 Madison Ave, New York, NY 10016
      View Details
    • Contact for pricing
      15,038 SF

      Manhattan Office Building for Lease

      Leasable office space in NoMad neighborhood with modern amenities.
      135 Madison Ave, New York, NY 10016
      View Details
    • Contact for pricing
      7,947 SF

      Garment District Office Space

      12-story office building in Manhattan's Garment District.
      10 E 39Th St, New York, NY 10016
      View Details
    • Contact for pricing

      Manhattan Office Building for Rent

      Classic architecture and contemporary amenities in a thriving Manhattan location.
      261 5Th Ave, New York, NY 10016
      View Details
    • Contact for pricing
      19,258 SF

      Manhattan Office and Retail Building

      22-story Class B office and retail building in Murray Hill.
      10-16 E 34Th St, New York, NY 10016
      View Details
    • Contact for pricing
      2,435 SF

      Murray Hill Office Building For Rent

      Six-story office building in Murray Hill neighborhood with communal outdoor space.
      29 E 31St St, New York, NY 10016
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    10 E 40Th St
    New York, NY 10016
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!