New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,585,000
Retail residential properties
1491 2nd Ave, New York, NY 10075-2135
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-3848691
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1910
Total area
15,572 SF
Lot
0.07 ac (3,028 SF)
Zoning code
C1-9
APN
01432-0025
UPID
US63-3848691
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
-
Calexico Restaurant
-
Googie's Italian Diner Restaurant
-
Tozzo The Italian Coffee Shop Cafe & Coffee Shop
-
City Convenience smoke shop Bar & Pub (Bike/Boat/Book/etc) Store
-
Rose Nails & Spa Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$7.64M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.59M
Owner & transaction history
Alliance 77 LLC · 5 yrs held
Alliance 77 LLC
since 2020
7 recorded transactions
Zoning & alternative use
C1-9 · 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%
$8,275,000
6.5%
$7,635,000
7%
$7,090,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,945,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$6.59M
Range $5.93M – $7.24M · ±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
$423 / 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
$426,647
Tax year 2024
Assessed value
$3,412,630
Assessed 2024
Previous assessed
$3,747,110
-8.9% YoY
Effective rate
12.50%
On assessed value
Assessed land
$936,000
Assessed improvement
$2,476,630
Land market value
$2,080,000
Improvement market value
$6,632,000
Total market value
$8,712,000
Applied tax rate
2.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1910
Heating
NONE
Buildings
1
Stories
6
Units
28
Total area
15,572 SF
Lot
0.07 ac (3,028 SF)
Zoning code
C1-9
APN
01432-0025
UPID
US63-3848691
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C1-9 · New York, NY
Zoning C1-9 · permitted uses
C1-9 · 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
OFFICE BUILDING
Est. value
$9.9M
OFFICE 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
1910
Heating
NONE
Stories
6
Buildings
1
Units
28
Lot
0.07 ac
Current owner
From public records · entity-resolved
Alliance 77 LLC
Entity
Mailing address
36 W 44TH ST STE #630, NEW YORK, NY 10036-8105
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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 26, 2020
—
Alliance 77 LLC
—
Deed
related
$21,203,207 · Manufacturers & Traders Tr
Dec 5, 2019
—
270 East 78th Street LLC
—
Deed
related
$7,000,000 · Apple Bk
—
—
270 East 78th Street LLC
—
Loan Modification
related
$7,000,000 · Apple Bk
—
—
John Rapp
—
Deed Of Trust
related
$459,818 · Independence Community Bank
—
—
270 East 78th Street LLC
—
Deed Of Trust
related
$5,000,000 · Dime Savings Bank Williamsburg
—
—
270 East 78th Street LLC
—
Loan Modification
related
$7,650,000 · Astoria Federal S&l Assn
—
—
270 East 78th Street LLC
—
Deed Of Trust
related
$1,923,815 · Independence Community Bank
—
—
Alliance 77 LLC
—
Loan Modification
related
$21,203,207 · Manufacturers & Traders Tr
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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