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Property profile & analytics
OFF-MARKET
Estimated value
$6,540,000
Apartment buildings
1635 Putnam Ave Flushing, NY 11385-3409
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-3305701
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1929
Total area
36,390 SF
Lot
0.23 ac (10,100 SF)
Zoning code
R6B
APN
03545-0069
UPID
US63-3305701
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.54M
Owner & transaction history
Adar Holdings USA LLC · 6 yrs held
Adar Holdings USA LLC
since 2020
7 recorded transactions
Zoning & alternative use
R6B · Flushing, 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 Flushing submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Flushing 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$7,265,000
Current use
Blend value · Realmo final
$6.54M
Range $5.89M – $7.19M · ±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
$180 / 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
$73,902
Tax year 2024
Assessed value
$3,121,200
Assessed 2024
Previous assessed
$3,562,200
-12.4% YoY
Effective rate
2.37%
On assessed value
Assessed land
$272,700
Assessed improvement
$2,848,500
Land market value
$606,000
Improvement market value
$6,330,000
Total market value
$6,936,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1929
Heating
NONE
Buildings
1
Stories
5
Units
49
Total area
36,390 SF
Lot
0.23 ac (10,100 SF)
Zoning code
R6B
APN
03545-0069
UPID
US63-3305701
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Flushing, NY
Zoning R6B · permitted uses
R6B · Flushing, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Flushing. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.3M
APARTMENT HOUSE (5+ UNITS) Current
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
1929
Heating
NONE
Stories
5
Buildings
1
Units
49
Lot
0.23 ac
Current owner
From public records · entity-resolved
Adar Holdings USA LLC
Entity
Mailing address
543 BEDFORD AVE, BROOKLYN, NY 11211-8511
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2020
—
Adar Holdings USA LLC
Tammuz Associates LLC
Grant Deed
$14,215,000 · Greystone Svcg
Oct 1, 2012
—
Adar Holdings USA LLC
—
Deed Of Trust
related
$8,300,000 · M & T Bank
Aug 17, 2012
$839,196
Tammuz Associates LLC
Adar Holdings USA LLC
Grant Deed
—
Mar 19, 2012
$9,300,000
Adar Holdings USA LLC
Rita A Sklar
Deed
$8,300,000 · Brt Rloc LLC
—
—
Adar Holdings USA LLC
—
Loan Modification, Consolidation And Extension
related
$14,850,000 · Signature Bk
—
—
Adar Holdings USA LLC
—
Deed Of Trust
related
$4,600,000 · M & T Bank
—
—
Adar Holdings USA LLC
—
Loan Modification
related
$2,240,000 · M & T Bank
—
—
Adar Holdings USA LLC
—
Loan Modification
related
$12,000,000 · Signature Bank
—
—
Adar Holdings USA LLC
—
Loan Modification
related
$2,240,000 · M & T Bank
—
—
Adar Holdings USA LLC
—
Loan Modification
related
$14,215,000 · Greystone Svcg
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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