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Property profile & analytics
OFF-MARKET
Estimated value
$262,335,000
Hotels
135 45th St, New York, NY 10036-4004
Entity Owned
14-yr Hold
~
Est. High Equity
Property ID
US63-2084099
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2009
Total area
304,831 SF
Lot
0.22 ac (9,510 SF)
Zoning code
C65.5
APN
00998-0015
UPID
US63-2084099
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
-
OKI Poke & Ramen Restaurant
-
Bar 54 Bar & Pub
-
Hyatt Centric Times Square New York Hotel & Motel
-
T45 Market Food Market Farmer's Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$262.34M
Owner & transaction history
Hhc Ts Reit LLC · 14 yrs held
Hhc Ts Reit LLC
since 2011
7 recorded transactions
Zoning & alternative use
C65.5 · 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
RETAIL STORES
$400,870,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$262.34M
Range $236.10M – $288.57M · ±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
$861 / 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
$5,281,948
Tax year 2024
Assessed value
$49,867,330
Assessed 2024
Previous assessed
$47,472,750
+5.0% YoY
Effective rate
10.59%
On assessed value
Assessed land
$5,563,350
Assessed improvement
$44,303,980
Land market value
$12,363,000
Improvement market value
$99,985,000
Total market value
$112,348,000
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
2009
Heating
NONE
Buildings
1
Stories
53
Units
1
Total area
304,831 SF
Lot
0.22 ac (9,510 SF)
Zoning code
C65.5
APN
00998-0015
UPID
US63-2084099
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C65.5 · New York, NY
Zoning C65.5 · permitted uses
C65.5 · 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
RETAIL STORES
Est. value
$400.9M
RETAIL STORES
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
2009
Heating
NONE
Stories
53
Buildings
1
Units
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Hhc Ts Reit LLC
Entity
Mailing address
1111 PENNSYLVANIA AVE NW, WASHINGTON, DC 20004-2541
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2017
—
Hhc Ts Reit LLC
—
Loan Modification, Consolidation And Extension
related
$110,000,000 · Oversea-chinese Bkng
Jan 5, 2015
—
Hhc Ts Reit LLC|hhc Ts Ltd Tr
—
Loan Modification
related
$185,000,000 · Credit Agricole Corp & Inv Bk
Apr 18, 2012
—
Hhc Ts Reit LLC
—
Deed Of Trust
related
$22,006,047 · Bank Of Nova Scotia
Sep 13, 2011
—
Hhc Ts Reit LLC
—
Deed Of Trust
related
$52,685,920 · Hhc Mckinney Investments INC
Jul 25, 2011
$123,291,286
Hhc Ts Reit LLC
Extell West 45th LLC
Grant Deed
—
Jul 27, 2007
—
Extell West 45th LLC
—
Deed Of Trust
related
$5,000,000 · Anglo Irish Bank Corp Plc
Jul 6, 2007
$10,964,000
Extell West 45th LLC
Broadhurst Theatre LLC
Grant Deed
—
Mar 19, 2007
—
Extell West 45th LLC
—
Deed Of Trust
related
$31,185,920 · Anglo Irish Bank Corp Plc
Jan 8, 2007
—
Extell West 45th LLC
—
Deed Of Trust
related
$25,004,584 · Barclays Capital R E INC
Oct 17, 2006
—
Extell West 45th LLC
—
Deed Of Trust
related
$21,139,584 · Barclays Capital R E INC
May 26, 2006
—
Extell West 45th LLC
Extell West 45th Street LLC
Quit Claim Deed
related
$14,759,584 · Barclays Capital R E INC
May 11, 2004
$4,500,000
Intell West 45th St LLC
Durst Partners LLC
Grant Deed
$4,991,296 · Bank Midwest 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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