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Property profile & analytics
OFF-MARKET
Estimated value
$4,925,000
Super regional malls
1350 Pennsylvania Ave, Brooklyn, NY 11239-2103
Entity Owned
4-yr Hold
Free & Clear
Property ID
US63-2868163
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1974
Total area
105,460 SF
Lot
7.92 ac (344,821 SF)
Zoning code
C4-3
APN
04452-0015
UPID
US63-2868163
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
$5.15M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.05M
Blend (final)
Blend
$4.93M
Owner & transaction history
Bsc Housing Development Fund Corpor · 4 yrs held
Bsc Housing Development Fund Corpor
since 2021
Last sale
$4.7M
4 recorded transactions
Zoning & alternative use
C4-3 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$6.0M
+82.6%
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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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
$5,190,000
ML approach
$5,150,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$3,290,000
Current use
MEDICAL BUILDING
$6,005,000
Change: +83% · Conversion: Difficult
Blend value · Realmo final
$4.93M
Range $4.43M – $5.42M · ±10% · vs last sale $4.68M (Aug 27 2021)
Last sale anchor
$4.68M
Aug 27 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
$47 / 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
$1,178,868
Tax year 2024
Assessed value
$11,811,150
Assessed 2024
Previous assessed
$11,315,700
+4.4% YoY
Effective rate
9.98%
On assessed value
Assessed land
$4,654,800
Assessed improvement
$7,156,350
Land market value
$10,344,000
Improvement market value
$15,903,000
Total market value
$26,247,000
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
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
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
Off-Market
Year built
1974
Heating
NONE
Buildings
2
Stories
2
Units
15
Total area
105,460 SF
Lot
7.92 ac (344,821 SF)
Zoning code
C4-3
APN
04452-0015
UPID
US63-2868163
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-3 · Brooklyn, NY
Zoning C4-3 · permitted uses
C4-3 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$3.3M
MEDICAL BUILDING
Est. value
$6.0M
NEIGHBORHOOD: SHOPPING CENTER Current
MEDICAL 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
1974
Heating
NONE
Stories
2
Buildings
2
Units
15
Lot
7.92 ac
Current owner
From public records · entity-resolved
Bsc Housing Development Fund Corpor
Entity
Free & Clear · 4 yrs held
Mailing address
1350 PENNSYLVANIA AVE, BROOKLYN, NY 11239-2103
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 27, 2021
$4,684,095
Bsc Housing Development Fund Corpor
Spring Creek Preservation Partners,
Deed
—
Aug 27, 2021
$29,965,989
Bsc Housing Development Fund Corpor
Brooksville Spring Creek LLC
Deed
—
May 11, 2018
$35,000,000
Bsc Retail Owner LLC
Spring Creek Plaza LLC
Grant Deed
—
Dec 23, 2009
—
Starrett City INC
Starrett City INC
Quit Claim Deed
—
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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