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Property profile & analytics
OFF-MARKET
Estimated value
$161,235,000
Hotels
113 24th St New York, NY 10011-1901
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-5056751
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2019
Total area
154,812 SF
Lot
0.16 ac (7,112 SF)
Zoning code
M1-6
APN
00800-0050
UPID
US63-5056751
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
-
Motto by Hilton New York City Chelsea Hotel & Motel
-
Lulla Restaurant
-
Bar Cicchetti - NYC Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$161.24M
Owner & transaction history
Chelsea 24th Street LLC · 6 yrs held
Chelsea 24th Street LLC
since 2019
7 recorded transactions
Zoning & alternative use
M1-6 · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
HOTEL/MOTEL
$227,460,000
Current use
Blend value · Realmo final
$161.24M
Range $145.11M – $177.36M · ±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
$1,041 / 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
$3,757,988
Tax year 2024
Assessed value
$35,479,490
Assessed 2024
Previous assessed
$34,867,220
+1.8% YoY
Effective rate
10.59%
On assessed value
Assessed land
$1,006,200
Assessed improvement
$34,473,290
Land market value
$2,236,000
Improvement market value
$82,475,000
Total market value
$84,711,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2019
Heating
NONE
Buildings
1
Stories
42
Units
1
Total area
154,812 SF
Lot
0.16 ac (7,112 SF)
Zoning code
M1-6
APN
00800-0050
UPID
US63-5056751
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-6 · New York, NY
Zoning M1-6 · permitted uses
M1-6 · 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
HOTEL/MOTEL Current
Est. value
$227.5M
HOTEL/MOTEL 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
2019
Heating
NONE
Stories
42
Buildings
1
Units
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
Chelsea 24th Street LLC
Entity
Mailing address
250 W 55TH ST, NEW YORK, NY 10019-9710
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2024
—
Chelsea 24th Street LLC
—
Deed
related
$78,700,000 · Wells Fargo Bank, NA
Oct 31, 2019
—
Chelsea 24th Street LLC
—
Loan Modification
related
$16,243,082 · Wells Fargo Bk
Oct 21, 2019
$74,159,182
Chelsea 24th Street LLC
Lg Chelsea LLC
Deed
—
Dec 3, 2018
—
Lam Gen 25 LLC
—
Loan Modification
related
$48,000,000 · Shanghai Com'l Bk Ltd
Jul 6, 2018
—
Lg Chelseae LLC
Lam Gen 25 LLC
Grant Deed
—
Sep 17, 2015
—
Lam Gen 25 LLC
—
Grant Deed
related
$31,930,000 · Shanghai Com'l Bk Ltd
—
—
Lam Gen 25 LLC
—
Loan Modification
related
$48,000,000 · Shanghai Com'l Bk Ltd
—
—
Lam Gen 25 LLC
—
Deed Of Trust
related
$33,780,000 · Shanghai Com'l Bk Ltd
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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