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Property profile & analytics
FOR LEASE
Office buildings
18 Spencer St Brooklyn, NY 11205
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-2781580
For Lease
1 / 2
$16,310,000
18 Spencer St, Brooklyn, NY 11205
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
2018
Total area
52,628 SF
Lot
0.17 ac (7,500 SF)
Zoning code
M1-2
APN
01715-0043
UPID
US63-2781580
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
-
Kindercare Pediatrics Llp Pediatrician Medical Clinic
-
Win Win Hiring Employment Agency
-
Round Image 2000 Marketing & Advertising Advertising Agency
-
Tower cafe @Tower 18 Cafe & Coffee Shop
-
Bridal Studio Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.55M
Comparable Approach
Comparable
$10.83M
Blend (final)
Blend
$16.31M
Owner & transaction history
Ll 18 Spencer Holdings LLC · 8 yrs held
Ll 18 Spencer Holdings LLC
since 2017
7 recorded transactions
Zoning & alternative use
M1-2 · Brooklyn, 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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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%
$23,340,000
6.5%
$21,545,000
7%
$20,005,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$26,375,000
Change: -9% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$24,780,000
Change: -14% · Conversion: Easy
Blend value · Realmo final
$16.31M
Range $14.68M – $17.94M · ±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
$310 / 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
$413,867
Tax year 2024
Assessed value
$4,007,250
Assessed 2024
Previous assessed
$3,929,400
+2.0% YoY
Effective rate
10.33%
On assessed value
Assessed land
$332,550
Assessed improvement
$3,674,700
Land market value
$739,000
Improvement market value
$8,166,000
Total market value
$8,905,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
2018
Heating
NONE
Buildings
1
Stories
12
Units
9
Total area
52,628 SF
Lot
0.17 ac (7,500 SF)
Zoning code
M1-2
APN
01715-0043
UPID
US63-2781580
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-2 · Brooklyn, NY
Zoning M1-2 · permitted uses
M1-2 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$26.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$24.8M
WAREHOUSE, STORAGE
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
2018
Heating
NONE
Stories
12
Buildings
1
Units
9
Lot
0.17 ac
Current owner
From public records · entity-resolved
Ll 18 Spencer Holdings LLC
Entity
Mailing address
1834 CONEY IS AVE, BROOKLYN, NY 11230-6515
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Apr 8, 2021
—
Ll 18 Spencer Holdings LLC
—
Deed
related
$2,500,000 · Citi Real Estate Funding INC
Jan 30, 2020
—
Ll 18 Spencer Holdings LLC
—
Deed
related
$17,000,000 · Bds III Mortgage Capital B LLC
Oct 7, 2019
—
Ll 18 Spencer Holdings LLC
—
Loan Modification
related
$17,000,000 · Bds III Mortgage Capital B LLC
Mar 1, 2018
—
Ll 18 Spencer Holdings LLC
—
Grant Deed
related
$9,500,000 · Cascade Land Hm Financing
Feb 9, 2018
—
Ll 18 Spencer Holdings LLC
—
Deed
related
$3,000,000 · Levon Capital LLC Levon Capital LLC
Dec 14, 2017
$250,000
Ll 18 Spencer Holdings LLC
Bedford Estates Realty Corp
Warranty Deed
—
—
—
Ll 18 Spencer Holdings LLC
—
Deed Of Trust
related
$17,000,000 · Bds III Mortgage Capital B LLC
—
—
Ll 18 Spencer Holdings LLC
—
Deed Of Trust
related
$3,000,000 · Levon Capital LLC Levon Capital LLC
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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