Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    150 56th St1ab New York, NY 10022-3631

    • Flex space
    • 1,318 SF
    • 0.21 lot acres
    OFF-MARKET
    Last Sale
    Sep 22, 2022
    $1,450,000
    Value Estimations
    $1,495,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-2425575
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Club Prada / Bar & Pub / Nightclub
    • Kim Tsao / Alternative Medicine Practice / Acupuncture
    • Percevault Marie F DDS / Dental Office
    • Varga Annette DDS / Dental Office
    • Kim Tsao, OMD / Medical Clinic / Alternative Medicine Practice

    Property Details for 150 56th St1ab

    Year built
    1956
    Lot size
    0.21 lot acres
    Property size
    1,318 SF
    Zone code
    C5-2
    Property type
    Flex space
    APN
    01310-1501
    APU
    13101501

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,620,000
      ML approach
      $1,455,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9689
    Latitude
    40.7597
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $22,685
    $88,380
    $125,794
    $214,174
    -
    $196,400
    $307,481
    $503,881

    Comparable in this City

    • Value Estimation
      $4,745,000
      28,785 SF

      601 Lexington Ave, Unit LCU3

      LIGHT INDUSTRIAL • 28,785 SF
      601 Lexington Ave, New York, NY 10022-4611
      View Details
    • Value Estimation
      $4,240,000
      25,404 SF

      601 Lexington Ave, Unit LCU1

      LIGHT INDUSTRIAL • 25,404 SF
      601 Lexington Ave, New York, NY 10022-4611
      View Details
    • Value Estimation
      $1,425,000
      8,988 SF

      55 59th St Sta, Unit A

      LIGHT INDUSTRIAL • 8,988 SF
      55 59th St Sta, New York, NY 10022-1112
      View Details
    • Value Estimation
      $1,445,000
      11,431 SF

      55 59th St Fl, Unit 13

      LIGHT INDUSTRIAL • 11,431 SF
      55 59th St Fl, New York, NY 10022-1710
      View Details
    • Value Estimation
      $1,570,000
      12,134 SF

      55 59th St Frnt, Unit 2

      LIGHT INDUSTRIAL • 12,134 SF
      55 59th St Frnt, New York, NY 10022-1197
      View Details
    • Value Estimation
      $3,375,000
      23,016 SF

      717 5th Aveffou

      LIGHT INDUSTRIAL • 23,016 SF
      717 5th Aveffou, New York, NY 10022-8101
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,081 SF

      Prime NYC Mixed-Use Assemblage

      High-income 20-unit assemblage, ideal for redevelopment.
      928 3Rd Ave, New York, NY 10022
      View Details
    • $11,800,000
      10,925 SF

      Midtown Manhattan Multifamily

      Luxury 11-unit building, prime location.
      225 58Th St, New York, NY 10022
      View Details
    • $769,000

      Renovated Midtown East Apartment

      Renovated 2-bed, 1-bath in Midtown East Turtle Bay.
      324 E 50Th St, New York, NY 10022
      View Details
    • $1,875,000

      New York Specialty Property For Sale

      Specialty property available in New York, NY.
      315 E 52Nd St, New York, NY 10022
      View Details
    • $2,600,000

      Residential Property in New York

      Residential property for sale in New York, NY.
      419 E 57Th St, New York, NY 10022
      View Details
    • $1,225,000

      Residential Property in New York

      Residential property for sale in New York, NY.
      440 E 56Th St, New York, NY 10022
      View Details

    Similar Nearby for Lease

    • $193 SF/Yr
      1,500 SF

      Midtown East Restaurant Space Available

      Prime Midtown East location, 1500 sq ft, full build-out.
      300 52Nd St, New York, NY 10022
      View Details
    • $87 SF/Yr
      20,000 SF

      Midtown East Retail Space - 230 E 58th St

      Prime Midtown East Retail Opportunity
      230 58Th St, New York, NY 10022
      View Details
    • Contact for pricing
      3,394 SF

      Prime Midtown East Retail Space

      NYC Retail: 1,353-2,041 SF Available
      0 51St St, New York, NY 10022
      View Details
    • $60,000
      520 SF

      Prime Midtown East Retail Space

      520 SF Turn-Key Retail, High Traffic
      889 1St Ave, New York, NY 10022
      View Details
    • $118 SF/Yr
      3,550 SF

      Prime NYC Gallery Space Available

      Stunning 3,550 SF Gallery, Showroom, NYC
      211 59Th St, New York, NY 10022
      View Details
    • $40 SF/Yr
      322,000 SF

      Madison Avenue Executive Suites

      Prestigious NYC Office Space Available
      595 Madison Ave, New York, NY 10022
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    150 56th St1ab
    New York, NY 10022-3631
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.