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Property profile & analytics
OFF-MARKET
Estimated value
$27,255,000
Office buildings
185 Marcy Ave Brooklyn, NY 11211-6261
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-0849045
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1905
Total area
57,425 SF
Lot
0.29 ac (12,606 SF)
Zoning code
C4-3
APN
02151-0006
UPID
US63-0849045
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
-
Ekstein Financial Services Financial Advisor
-
Guillermo's Dumpster Rental General Contractor Waste Management Facility
-
Prfi Family Institute Hair Salon Nail Salon
-
Watermark Capital Corporate Office
-
Dr. Samir Garyali Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$23.51M
Comparable Approach
Comparable
$37.84M
Blend (final)
Blend
$27.26M
Owner & transaction history
185 Marcy New Owner LLC · 1 yrs held
185 Marcy New Owner LLC
since 2025
Last sale
$28.7M
7 recorded transactions
Zoning & alternative use
C4-3 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$44.2M
+39.9%
Commercial (general)
$38.6M
+22.2%
Industrial (general)
$32.6M
+3.1%
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
$28,105,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$25,470,000
6.5%
$23,510,000
7%
$21,830,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$31,610,000
Current use
RETAIL STORES
$44,220,000
Change: +40% · Conversion: Moderate
COMMERCIAL (GENERAL)
$38,640,000
Change: +22% · Conversion: Easy
INDUSTRIAL (GENERAL)
$32,595,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$28,780,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$27.26M
Range $24.53M – $29.98M · ±10% · vs last sale $28.70M (Apr 8 2025)
Last sale anchor
$28.70M
Apr 8 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
$475 / 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
$474,447
Tax year 2024
Assessed value
$5,384,250
Assessed 2024
Previous assessed
$5,123,700
+5.1% YoY
Effective rate
8.81%
On assessed value
Assessed land
$567,450
Assessed improvement
$4,816,800
Land market value
$1,261,000
Improvement market value
$10,704,000
Total market value
$11,965,000
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
Off-Market
Year built
1905
Heating
NONE
Buildings
1
Stories
6
Units
20
Total area
57,425 SF
Lot
0.29 ac (12,606 SF)
Zoning code
C4-3
APN
02151-0006
UPID
US63-0849045
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-3 · Brooklyn, NY
Zoning C4-3 · permitted uses
C4-3 · 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
OFFICE BUILDING Current
Est. value
$31.6M
RETAIL STORES
Est. value
$44.2M
COMMERCIAL (GENERAL)
Est. value
$38.6M
INDUSTRIAL (GENERAL)
Est. value
$32.6M
WAREHOUSE, STORAGE
Est. value
$28.8M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1905
Heating
NONE
Stories
6
Buildings
1
Units
20
Lot
0.29 ac
Current owner
From public records · entity-resolved
185 Marcy New Owner LLC
Entity
Mailing address
299 PARK AVE, NEW YORK, NY 10171-0002
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2025
$28,700,000
185 Marcy New Owner LLC
185m Holdings, LLC
Deed
$21,525,000 · Ows Bca Funding, LLC
Oct 16, 2023
$3,775
185m Holdings, LLC
Esq Scott Siller
Deed
—
Jan 10, 2019
—
185 Marcy Owner LLC
—
Deed
related
$18,440,000 · Cantor Com'l R/e Lndg
Jun 27, 2017
—
185 Marcy Owner LLC
—
Loan Modification, Consolidation And Extension
related
$16,535,000 · Fortress Cr
Feb 16, 2017
$29,950,000
185 Marcy Owner LLC
Marcy Square LLC
Grant Deed
$15,000,000 · Private Individual
Aug 8, 2016
—
Marcy Square LLC
185 Marcy LLC
Quit Claim Deed
—
—
—
185 Marcy Owner LLC
—
Deed Of Trust
related
$18,440,000 · Cantor Com'l R/e Lndg
—
—
185 Marcy Owner LLC
—
Deed Of Trust
related
$1,535,000 · Fortress Cr
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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