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Property profile & analytics
OFF-MARKET
Estimated value
$22,455,000
Retail residential properties
19-21 116th St, New York, NY 10026
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US63-1683364
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2008
Total area
47,624 SF
Lot
0.21 ac (9,184 SF)
Zoning code
C45X
APN
01600-0026
UPID
US63-1683364
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
$23.36M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$22.46M
Owner & transaction history
15 West 116 LLC · 11 yrs held
15 West 116 LLC
since 2014
3 recorded transactions
Zoning & alternative use
C45X · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$25,300,000
6.5%
$23,355,000
7%
$21,685,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$30,420,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$22.46M
Range $20.21M – $24.70M · ±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
$472 / 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
$9,497
Tax year 2024
Assessed value
$4,327,290
Assessed 2024
Previous assessed
$4,492,350
-3.7% YoY
Effective rate
0.22%
On assessed value
Assessed land
$936,000
Assessed improvement
$3,391,290
Land market value
$2,080,000
Improvement market value
$8,230,000
Total market value
$10,310,000
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
2008
Heating
NONE
Buildings
1
Stories
9
Units
39
Total area
47,624 SF
Lot
0.21 ac (9,184 SF)
Zoning code
C45X
APN
01600-0026
UPID
US63-1683364
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C45X · New York, NY
Zoning C45X · permitted uses
C45X · 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
OFFICE BUILDING
Est. value
$30.4M
OFFICE BUILDING
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
2008
Heating
NONE
Stories
9
Buildings
1
Units
39
Lot
0.21 ac
Current owner
From public records · entity-resolved
15 West 116 LLC
Entity
Mailing address
8611 LEFFERTS BLVD STE 3D, RICHMOND HILL, NY 11418-2582
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2017
—
15 West 116 LLC
—
Loan Modification, Consolidation And Extension
related
$11,000,000 · Santander Bk NA
Aug 1, 2014
$13,800,000
15 West 116 LLC
Malcolm Shabazz Court LLC
Grant Deed
—
Jul 30, 2004
—
Malcolm Shabazz Court LLC
The City Of New York
Grant Deed
$5,850,000 · Miscellaneous Govt Agcy
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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