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Property profile & analytics
OFF-MARKET
Estimated value
$196,125,000
Hotels
140 24th St New York, NY 10011-1980
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US63-5556112
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2019
Total area
172,767 SF
Lot
0.17 ac (7,406 SF)
Zoning code
M1-6
APN
00799-0063
UPID
US63-5556112
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
-
Baruch College Gym High School
-
Hyatt Place New York / Chelsea Hotel & Motel
-
Liberty flooring ,llc Carpet & Flooring Store Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$196.13M
Owner & transaction history
Ny 24th Street Vi LLC · 7 yrs held
Ny 24th Street Vi LLC
since 2019
6 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
$253,840,000
Current use
Blend value · Realmo final
$196.13M
Range $176.51M – $215.74M · ±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
$1,135 / 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
$4,511,445
Tax year 2024
Assessed value
$43,156,970
Assessed 2024
Previous assessed
$44,176,960
-2.3% YoY
Effective rate
10.45%
On assessed value
Assessed land
$916,200
Assessed improvement
$42,240,770
Land market value
$2,036,000
Improvement market value
$92,615,000
Total market value
$94,651,000
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
45
Units
1
Total area
172,767 SF
Lot
0.17 ac (7,406 SF)
Zoning code
M1-6
APN
00799-0063
UPID
US63-5556112
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
$253.8M
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
45
Buildings
1
Units
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Ny 24th Street Vi LLC
Entity
Mailing address
300 CENTERVILLE RD STE #300, WARWICK, RI 02886-0200
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 12, 2025
—
Ny 24th Street Operating Vi LLC
—
Deed
related
$48,500,000 · Aareal Capital Corporation
Jan 3, 2019
$112,607,589
Ny 24th Street Vi LLC
Sc 142 West 24 LLC
Deed
$30,657,414 · Manufacturers & Traders Trust Co
Nov 6, 2017
$61,000,000
Sc 142 West 24 LLC
142 West 24th Street Holder LLC
Deed
$17,063 · Goldman Sachs Bank USA
Nov 6, 2017
—
Sc 142 West 24 LLC
—
Loan Modification, Consolidation And Extension
related
$33,550,000 · Goldman Sachs Bk USA
Feb 6, 2017
$9,174,156
142 West 24th Street Holder LLC
Hilda Kobler
Deed
$14,994,160 · Deutsche Bank Ag New York Branch
Feb 6, 2017
—
23 West 24th Street Owner Ll
—
Loan Modification, Consolidation And Extension
related
$62,024,187 · Deutsche Bk Ag/ny Branch
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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