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Property profile & analytics
OFF-MARKET
Flex space
1635 Lexington Ave CF, New York, NY 10029-5303
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-4277633
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
2013
Total area
991 SF
Lot
0.22 ac (9,500 SF)
Zoning code
R7-2
APN
01631-1002
UPID
US63-4277633
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
-
Sprazzi Photography Service (Bike/Boat/Book/etc) Store
-
Berit Church Church Mosque
-
Ideal Food Basket Specialty Food Shop Supermarket
-
Forsyth Construction Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
1010 Lex Realty LLC · 6 yrs held
1010 Lex Realty LLC
since 2020
7 recorded transactions
Zoning & alternative use
R7-2 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,393
Tax year 2024
Assessed value
$69,797
Assessed 2024
Previous assessed
$70,200
-0.6% YoY
Effective rate
10.59%
On assessed value
Assessed land
$13,287
Assessed improvement
$56,510
Land market value
$29,526
Improvement market value
$133,000
Total market value
$162,526
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
2013
Heating
NONE
Stories
8
Units
1
Total area
991 SF
Lot
0.22 ac (9,500 SF)
Zoning code
R7-2
APN
01631-1002
UPID
US63-4277633
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7-2 · New York, NY
Zoning R7-2 · permitted uses
R7-2 · 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.
Building & site characteristics
From public records
Year built
2013
Heating
NONE
Stories
8
Units
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
1010 Lex Realty LLC
Entity
Mailing address
1635 LEXINGTON AVECF, NEW YORK, NY 10029-5303
Mailing matches property
Yes
Owner-occupied
Yes
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2020
$8,000,000
1010 Lex Realty LLC
1635 Lex Realty Corp
Grant Deed
$2,528 · Bank Of Hope
Feb 1, 2017
—
1635 Lex Realty Corp
—
Loan Modification, Consolidation And Extension
related
$4,300,000 · Bank Of Hope
Jun 10, 2013
$1,184,787
1635 Lex Realty Corp
Rey Sun Realty LLC
Grant Deed
$1,750,000 · Englewood Financial Group LLC
—
—
1635 Lex Realty Corp
—
Deed Of Trust
related
$750,000 · Noah Bank
—
—
1635 Lex Realty Corp
—
Deed Of Trust
related
$2,346,347 · Bankunited Fsb
—
—
1635 Lex Realty Corp
—
Loan Modification, Consolidation And Extension
related
$4,120,000 · Bankunited Fsb
—
—
1010 Lex Realty LLC
—
Deed Of Trust
related
$4,000,000 · Bank Of Hope
—
—
1010 Lex Realty LLC
—
Deed Of Trust
related
$2,962,000 · Empire St Certified Dev
—
—
1635 Lex Realty Corp
—
Loan Modification
related
$1,850,000 · Newbank
—
—
1635 Lex Realty Corp
—
Deed Of Trust
related
$100,000 · Newbank
—
—
1635 Lex Realty Corp
—
Deed Of Trust
related
$278,339 · Bank Of Hope
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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