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Property profile & analytics
OFF-MARKET
Estimated value
$3,685,000
Investment properties
11 56th St, New York, NY 10019-3902
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US63-3068515
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1920
Total area
9,447 SF
Lot
0.06 ac (2,477 SF)
Zoning code
C5-P
APN
01272-0028
UPID
US63-3068515
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
-
Norma Kamali (Bike/Boat/Book/etc) Store
-
The Wellness Cafe (Bike/Boat/Book/etc) Store Specialty Food Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.64M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.69M
Owner & transaction history
Nr 11 West 56th Street LLC · 10 yrs held
Nr 11 West 56th Street LLC
since 2015
7 recorded transactions
Zoning & alternative use
C5-P · New York, 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 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%
$5,020,000
6.5%
$4,635,000
7%
$4,300,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,035,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$3.69M
Range $3.32M – $4.05M · ±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
$390 / 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
$199,379
Tax year 2024
Assessed value
$1,917,070
Assessed 2024
Previous assessed
$2,071,350
-7.4% YoY
Effective rate
10.40%
On assessed value
Assessed land
$580,500
Assessed improvement
$1,336,570
Land market value
$1,290,000
Improvement market value
$2,893,000
Total market value
$4,183,000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1920
Heating
NONE
Buildings
1
Stories
5
Units
2
Total area
9,447 SF
Lot
0.06 ac (2,477 SF)
Zoning code
C5-P
APN
01272-0028
UPID
US63-3068515
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C5-P · New York, NY
Zoning C5-P · permitted uses
C5-P · 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
OFFICE BUILDING
Est. value
$6.0M
OFFICE BUILDING
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
1920
Heating
NONE
Stories
5
Buildings
1
Units
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
Nr 11 West 56th Street LLC
Entity
Mailing address
44 W 55TH ST STE #500, NEW YORK, NY 10019-5314
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 15, 2024
—
Nr 11 West 56th Street LLC
—
Deed
related
$1,014,325 · Neg Financing 7 LLC
Dec 23, 2015
—
Nr 11 West 56th Street LLC
Nrp LLC I
Deed
$6,000,000 · Signature Bank
Nov 26, 2012
—
Nr Properties Five LLC
—
Grant Deed
related
$86,962,024 · Manufacturers Traders & Trust
Feb 17, 2012
—
Nr Properties Five LLC
—
Grant Deed
related
$48,750,621 · Manufacturers Traders & Trust
Nov 28, 2011
—
Nrp LLC 1
—
Deed Of Trust
related
$54,518,456 · Manufacturers Traders & Trust
Jun 16, 2010
—
Nrp 56 LLC
—
Deed Of Trust
related
$55,695,850 · Manufacturers Traders & Trust
Dec 31, 2007
—
Nrp LLC I
—
Deed Of Trust
related
$60,000,000 · Manufacturers Traders & Trust
Feb 24, 2006
—
Nr Property 2 LLC
—
Deed Of Trust
related
$76,002,365 · M & T Real Estate INC
Jan 9, 2006
—
Nr Property 2 LLC
—
Deed Of Trust
related
$77,056,048 · M & T Real Estate INC
—
—
Nr Properties Five LLC
—
Loan Modification
related
$31,915,077 · Manufacturers Traders & Trust
—
—
Norma Kamali
—
Deed Of Trust
related
$146,000 · City & Suburban Fsb
—
—
Norma Kamali
—
Deed Of Trust
related
$854,000 · Fundex Capital Corp
—
—
Nr Properties Five LLC
—
Deed Of Trust
related
$10,167,888 · Manufacturers Traders & Trust
—
—
Nr Properties Five LLC
—
Loan Modification
related
$40,985,084 · Manufacturers Traders & Trust
—
—
Nr Properties Five LLC
—
Deed Of Trust
related
—
—
—
Nr Properties Five LLC
—
Deed Of Trust
related
$53,461,479 · Manufacturers Traders & Trust
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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