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Property profile & analytics
OFF-MARKET
Estimated value
$5,620,000
Apartment buildings
1044 44th Dr Long Island City, NY 11101
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US63-3567240
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2014
Total area
27,801 SF
Lot
0.17 ac (7,433 SF)
Zoning code
M14R7A
APN
00051-0025
UPID
US63-3567240
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.62M
Owner & transaction history
44th Drive Rentals LLC · 13 yrs held
44th Drive Rentals LLC
since 2013
7 recorded transactions
Zoning & alternative use
M14R7A · Long Island City, 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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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
INDUSTRIAL (GENERAL)
$9,320,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$5.62M
Range $5.06M – $6.18M · ±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
$202 / 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
$36,761
Tax year 2024
Assessed value
$2,416,950
Assessed 2024
Previous assessed
$2,102,850
+14.9% YoY
Effective rate
1.52%
On assessed value
Assessed land
$296,100
Assessed improvement
$2,120,850
Land market value
$658,000
Improvement market value
$4,713,000
Total market value
$5,371,000
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
2014
Heating
NONE
Buildings
1
Stories
7
Units
35
Total area
27,801 SF
Lot
0.17 ac (7,433 SF)
Zoning code
M14R7A
APN
00051-0025
UPID
US63-3567240
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M14R7A · Long Island City, NY
Zoning M14R7A · permitted uses
M14R7A · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$9.3M
INDUSTRIAL (GENERAL)
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
2014
Heating
NONE
Stories
7
Buildings
1
Units
35
Lot
0.17 ac
Current owner
From public records · entity-resolved
44th Drive Rentals LLC
Entity
Mailing address
488 MADISON AVE FL #1230, NEW YORK, NY 10022-5712
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 27, 2023
—
44th Drive Rentals LLC
—
Deed
related
$1,615,000 · Jll Real Estate Capital, LLC
Apr 4, 2017
—
44th Drive Rentals LLC
—
Grant Deed
related
$4,715,000 · Housing Fin Agcy
Jan 23, 2013
$1,375,000
44th Drive Rentals LLC
Davis,myra
Grant Deed
—
Jan 23, 2013
$6,875,000
44th Drive Rentals LLC
Levine,noel
Grant Deed
—
—
—
44th Drive Rentals LLC
—
Deed Of Trust
related
$1,230,511 · Florida Housing Finance Agency
—
—
44th Drive Rentals LLC
—
Deed Of Trust
related
$3,364,391 · Florida Housing Finance Agency
—
—
44th Drive Rentals LLC
—
Deed Of Trust
related
$23,925,098 · Florida Housing Finance Agency
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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