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Property profile & analytics
OFF-MARKET
Estimated value
$5,350,000
Office buildings
1423 Broadway Brooklyn, NY 11221
Individually Owned
10-yr Hold
~
Est. High Equity
Property ID
US63-2005842
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1994
Total area
14,600 SF
Lot
0.28 ac (12,300 SF)
Zoning code
R6
APN
03357-0006
UPID
US63-2005842
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
by Request
CAP Approach
CAP
$5.98M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.35M
Owner & transaction history
Broadway Bushwick Builders Income · 10 yrs held
Broadway Bushwick Builders Income
since 2016
6 recorded transactions
Zoning & alternative use
R6 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$8.3M
+3.1%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,475,000
6.5%
$5,975,000
7%
$5,550,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,035,000
Current use
INDUSTRIAL (GENERAL)
$8,285,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$7,315,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$5.35M
Range $4.82M – $5.89M · ±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
$366 / 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
$148,606
Tax year 2024
Assessed value
$1,702,350
Assessed 2024
Previous assessed
$1,326,150
+28.4% YoY
Effective rate
8.73%
On assessed value
Assessed land
$553,500
Assessed improvement
$1,148,850
Land market value
$1,230,000
Improvement market value
$2,553,000
Total market value
$3,783,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1994
Heating
NONE
Buildings
1
Stories
2
Units
2
Total area
14,600 SF
Lot
0.28 ac (12,300 SF)
Zoning code
R6
APN
03357-0006
UPID
US63-2005842
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6 · Brooklyn, NY
Zoning R6 · permitted uses
R6 · 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
OFFICE BUILDING Current
Est. value
$8.0M
INDUSTRIAL (GENERAL)
Est. value
$8.3M
WAREHOUSE, STORAGE
Est. value
$7.3M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1994
Heating
NONE
Stories
2
Buildings
1
Units
2
Lot
0.28 ac
Current owner
From public records · entity-resolved
Broadway Bushwick Builders Income
Individual
Mailing address
1423 BROADWAY, BROOKLYN, NY 11221
Ownership since
2016
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
Apr 1, 2016
—
Broadway Bushwick Builders Income
Broadway Bushwick Builders, L P
Deed
$3,810,258 · Citigroup Global Markets Realty Corp
Jun 17, 2013
—
Bushwick Builders LP Broadway
—
Loan Modification
related
$10,700,000 · Bank United
—
—
Bushwick Builders Broadway
—
Deed Of Trust
related
$914,581 · M & T Real Estate Trust
—
—
Broadway Bushwick Bldrs LP
—
Deed Of Trust
related
—
—
—
Bushwick Builders Broadway
—
Deed Of Trust
related
—
—
—
Broadway Bushwick Bldrs Income
—
Loan Modification, Consolidation And Extension
related
$14,000,000 · Citigroup Global Markets Rlty
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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