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Property profile & analytics
FOR SALE
Apartment buildings
2-23 Beach 101St St, Far Rockaway, NY 11694
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-3186649
For Sale
1 / 27
$7,750,000
2-23 Beach 101St St, Far Rockaway, NY 11694
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2012
Total area
24,705 SF
Lot
0.29 ac (12,500 SF)
Zoning code
R5D
APN
16157-0089
UPID
US63-3186649
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
$4.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.17M
Blend (final)
Blend
$5.26M
Owner & transaction history
2-23 Beach Street LLC · 3 yrs held
2-23 Beach Street LLC
since 2022
Last sale
$5.9M
4 recorded transactions
Zoning & alternative use
R5D · Far Rockaway, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.9M
+56.6%
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 Far Rockaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Far Rockaway 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
$4,880,000
ML approach
$4,545,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,415,000
Current use
COMMERCIAL (GENERAL)
$6,915,000
Change: +57% · Conversion: Moderate
Blend value · Realmo final
$5.26M
Range $4.73M – $5.79M · ±10% · vs last sale $5.85M (Sep 19 2022)
Last sale anchor
$5.85M
Sep 19 2022
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
$213 / 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
$12,254
Tax year 2024
Assessed value
$1,395,450
Assessed 2024
Previous assessed
$1,387,800
+0.6% YoY
Effective rate
0.88%
On assessed value
Assessed land
$309,600
Assessed improvement
$1,085,850
Land market value
$688,000
Improvement market value
$2,413,000
Total market value
$3,101,000
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
For Sale
Year built
2012
Heating
NONE
Buildings
1
Stories
4
Units
32
Total area
24,705 SF
Lot
0.29 ac (12,500 SF)
Zoning code
R5D
APN
16157-0089
UPID
US63-3186649
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R5D · Far Rockaway, NY
Zoning R5D · permitted uses
R5D · Far Rockaway, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Far Rockaway. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$6.9M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
2012
Heating
NONE
Stories
4
Buildings
1
Units
32
Lot
0.29 ac
Current owner
From public records · entity-resolved
2-23 Beach Street LLC
Entity
Mailing address
1 BROOKLYN AVE, BROOKLYN, NY 11216
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2022
$5,850,000
2-23 Beach Street LLC
2-23 Beach 101 LLC
Deed
—
Aug 24, 2011
$475,000
2-23 Beach 101 LLC
Club 101 LLC
Grant Deed
—
Oct 24, 2007
—
Club 101 INC
Callahan,william T JR
Grant Deed
related
—
—
—
Club 101 LLC
—
Deed Of Trust
related
$142,000 · Kilmartin & Kilmartin PC
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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