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Property profile & analytics
OFF-MARKET
Estimated value
$4,870,000
Garden apartment buildings
10615 217th St Jamaica, NY 11429-1960
Entity Owned
4-yr Hold
Free & Clear
Property ID
US63-2181956
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1922
Total area
20,000 SF
Lot
0.84 ac (36,500 SF)
Zoning code
R3-2
APN
11104-0083
UPID
US63-2181956
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
$4.69M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.42M
Blend (final)
Blend
$4.87M
Owner & transaction history
217 Hollis Associates, LLC · 4 yrs held
217 Hollis Associates, LLC
since 2021
Last sale
$5.0M
7 recorded transactions
Zoning & alternative use
R3-2 · Jamaica, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$7.4M
+52.5%
Commercial (general)
$6.2M
+28.4%
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 Jamaica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Jamaica 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
$4,750,000
ML approach
$4,690,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,855,000
Current use
OFFICE BUILDING
$7,400,000
Change: +52% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,235,000
Change: +28% · Conversion: Moderate
Blend value · Realmo final
$4.87M
Range $4.38M – $5.36M · ±10% · vs last sale $5.02M (Oct 19 2021)
Last sale anchor
$5.02M
Oct 19 2021
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
$244 / 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
$74,014
Tax year 2024
Assessed value
$737,100
Assessed 2024
Previous assessed
$552,420
+33.4% YoY
Effective rate
10.04%
On assessed value
Assessed land
$246,600
Assessed improvement
$490,500
Land market value
$548,000
Improvement market value
$1,090,000
Total market value
$1,638,000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1922
Heating
NONE
Buildings
1
Stories
2
Units
29
Total area
20,000 SF
Lot
0.84 ac (36,500 SF)
Zoning code
R3-2
APN
11104-0083
UPID
US63-2181956
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R3-2 · Jamaica, NY
Zoning R3-2 · permitted uses
R3-2 · Jamaica, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Jamaica. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.9M
OFFICE BUILDING
Est. value
$7.4M
COMMERCIAL (GENERAL)
Est. value
$6.2M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
COMMERCIAL (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
1922
Heating
NONE
Stories
2
Buildings
1
Units
29
Lot
0.84 ac
Current owner
From public records · entity-resolved
217 Hollis Associates, LLC
Entity
Free & Clear · 4 yrs held
Mailing address
6801 MAIN ST, FLUSHING, NY 11367-1310
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 30, 2021
—
Eom 106-15 217th Corp.
—
Deed
related
$3,765,000 · Capital One, National Association
Oct 19, 2021
$5,020,000
217 Hollis Associates, LLC
Eom 106-15 217th Corp.
Deed
—
Jul 17, 2018
—
Eom 90-16 171st Corp
—
Loan Modification
related
$6,750,000 · Capital One NA
Jul 5, 2018
—
Eom 90-16 171st Corp
—
Deed
related
$933,831 · Capital One NA
Jul 18, 2013
$2,479,193
Eom 106-15 217th Corp
Militana Family LLC
Grant Deed
—
Jan 20, 2006
—
Militana Family LLC
Angelina Militana
Intrafamily Transfer
related
$756,584 · The Dime Savings Bank Williamsburgh
Jan 24, 2005
—
Militana Angelina
Militana,fred & Angelina
Quit Claim Deed
related
—
—
—
Eom 90-16 171st Corp
—
Deed Of Trust
related
$1,075,000 · Capital One NA
—
—
Eom 106-15 217th Corp
—
Loan Modification
related
$5,300,000 · Hrc Fund V Reit LLC
—
—
Eom 90-16 171st Corp
—
Deed Of Trust
related
$933,831 · Capital One NA
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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