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Property profile & analytics
OFF-MARKET
Estimated value
$10,930,000
Retail residential properties
156-158 117th St, New York, NY 10035
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-0852767
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1920
Total area
29,975 SF
Lot
0.14 ac (6,030 SF)
Zoning code
R7D
APN
01644-0051
UPID
US63-0852767
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
$14.70M
Comparable Approach
Comparable
$13.04M
Blend (final)
Blend
$10.93M
Owner & transaction history
1875 Lex LLC · 1 yrs held
1875 Lex LLC
since 2025
Last sale
$11.8M
6 recorded transactions
Zoning & alternative use
R7D · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$16.2M
+57.9%
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
$7,905,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$15,925,000
6.5%
$14,700,000
7%
$13,650,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$10,275,000
Current use
APARTMENT HOUSE (5+ UNITS)
$16,220,000
Change: +58% · Conversion: Moderate
Blend value · Realmo final
$10.93M
Range $9.84M – $12.02M · ±10% · vs last sale $11.80M (Jan 6 2025)
Last sale anchor
$11.80M
Jan 6 2025
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
$365 / 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
$171,477
Tax year 2024
Assessed value
$1,731,510
Assessed 2024
Previous assessed
$1,402,200
+23.5% YoY
Effective rate
9.90%
On assessed value
Assessed land
$120,600
Assessed improvement
$1,610,910
Land market value
$268,000
Improvement market value
$2,780,000
Total market value
$3,048,000
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
1920
Heating
NONE
Buildings
1
Stories
6
Units
37
Total area
29,975 SF
Lot
0.14 ac (6,030 SF)
Zoning code
R7D
APN
01644-0051
UPID
US63-0852767
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7D · New York, NY
Zoning R7D · permitted uses
R7D · 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
COMMERCIAL (GENERAL) Current
Est. value
$10.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$16.2M
COMMERCIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
1920
Heating
NONE
Stories
6
Buildings
1
Units
37
Lot
0.14 ac
Current owner
From public records · entity-resolved
1875 Lex LLC
Entity
Mailing address
156 E 117TH ST, NEW YORK, NY 10035-4717
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
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
Jun 20, 2025
—
1875 Lex LLC
—
Deed
related
$550,000 · Esquire Bank, National Association
Jan 6, 2025
$11,800,000
1875 Lex LLC
1875 Lexington LLC
Deed
$4,416,965 · Esquire Bank, National Association
Apr 9, 2018
—
1875 Lexington LLC
—
Deed
related
$313,507 · First Republic Bank
—
—
1875 Lexington LLC
—
Deed Of Trust
related
$3,800,000 · Sdf Fndg 1 LLC
—
—
1875 Lexington LLC
—
Loan Modification
related
$3,900,000 · Signature Bank
—
—
1875 Lexington LLC
—
Loan Modification
related
$4,000,000 · First Republic Bk
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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