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Property profile & analytics
OFF-MARKET
Estimated value
$10,985,000
Apartment buildings
1037 51st St 1049, Brooklyn, NY 11219-3359
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US63-1231207
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1940
Total area
73,326 SF
Lot
0.26 ac (11,275 SF)
Zoning code
R6
APN
05646-0030
UPID
US63-1231207
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
-
Podkarpacie Polish Deli Food Market Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.98M
Blend (final)
Blend
$10.99M
Owner & transaction history
552 Associates LLC · 5 yrs held
552 Associates LLC
since 2021
6 recorded transactions
Zoning & alternative use
R6 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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
APARTMENT HOUSE (5+ UNITS)
$16,865,000
Current use
Blend value · Realmo final
$10.99M
Range $9.89M – $12.08M · ±10%
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
$150 / 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
$246,459
Tax year 2024
Assessed value
$2,228,400
Assessed 2024
Previous assessed
$2,340,900
-4.8% YoY
Effective rate
11.06%
On assessed value
Assessed land
$160,200
Assessed improvement
$2,068,200
Land market value
$356,000
Improvement market value
$4,596,000
Total market value
$4,952,000
Applied tax rate
2.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1940
Heating
NONE
Buildings
1
Stories
6
Units
55
Total area
73,326 SF
Lot
0.26 ac (11,275 SF)
Zoning code
R6
APN
05646-0030
UPID
US63-1231207
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6 · Brooklyn, NY
Zoning R6 · permitted uses
R6 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$16.9M
APARTMENT HOUSE (5+ UNITS) Current
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
Year built
1940
Heating
NONE
Stories
6
Buildings
1
Units
55
Lot
0.26 ac
Current owner
From public records · entity-resolved
552 Associates LLC
Entity
Mailing address
PO BOX 40212, BROOKLYN, NY 11204-0212
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2021
—
552 Associates LLC
—
Deed
related
$1,425,929 · Greystone Servicing Company LLC
Dec 8, 2016
—
552 Associates LLC
—
Deed
related
$1,903,945 · Nycb Plaza
—
—
552 Assocs LLC
—
Deed Of Trust
related
$483,608 · Dime Savings Bank Williamsburg
—
—
552 Associates LLC
—
Deed Of Trust
related
$4,500,000 · New York Community Bank
—
—
552 Associates LLC
—
Deed Of Trust
related
$1,302,134 · New York Community Bank
—
—
552 Associates LLC
—
Loan Modification, Consolidation And Extension
related
$6,000,000 · New York Cmnty Bk
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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