2005 3Rd Ave New York, NY 10029
Retail residential properties
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2005 3Rd Ave, New York, NY 10029
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Estimated value (blended)
$4.12M
Range $3.71M – $4.53M (±10%)
Property ID
US63-0830264
Property summary
AI-generated overview
This exceptional property at 2005 3rd Avenue in New York City, NY 10029 offers a unique opportunity to lease executive office space within a larger mixed-use building. The building, totaling 122,414 square feet, comprises one building and features a variety of suite sizes to accommodate diverse business needs. Currently, there are multiple spaces available, ranging from a minimum of 713 square feet to a maximum of 16,500 square feet, with a total of 32,971 square feet currently vacant. The minimum divisible space is 2,059 square feet, while the maximum contiguous space available is 11,000 square feet. This allows for flexibility in selecting a space that perfectly fits your company's requirements. The property is classified as both retail and office space, offering a dynamic and versatile environment. Ceiling heights vary, providing options of 12 feet and 21 feet, adding to the space's adaptability. Located in New York County, this property benefits from its prime location in a vibrant and bustling area of New York City. The address is 2005 3rd Avenue, offering excellent visibility and accessibility. This is an ideal location for businesses seeking a prestigious address and convenient access to various amenities and transportation options. The property is available for lease.
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1924
Total area
5,500 SF
Lot
0.57 ac (24,724 SF)
Zoning code
R9
APN
01660-0001
UPID
US63-0830264
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Specialty Food Shop Supermarket
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.07M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.25M
Blend (final)
Blend
$4.12M
Owner & transaction history
since 2024
Last sale
$4.1M
4 recorded transactions
Zoning & alternative use
R9 · New York, NY
Top alternative use upside
Warehouse, storage
$4.5M
+129.2%
Office building
$3.5M
+79.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 6 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$4.12M
Value range
$3.71M – $4.53M
±10% around blend
Estimated value / SF
$749 / SF
Confidence
High
6 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
60
$3.71M
blend $4.12M
$4.53M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
5,500 SF
Lot area
0.57 ac
Year built
1924
Stories
1
APN
01660-0001
Assessed value
$806,310
Annual tax
$85,404
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$2.51M
Weighted, 6 comps · high confidence
Evidence
6 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.1 mi away · 6,600 SF
2.4 mi away · 4,916 SF
2.4 mi away · 5,260 SF
2.6 mi away · 4,005 SF
2.8 mi away · 6,645 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.12M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 52 sales
$357
+110%
Submarket 1320 sales
$725
+3%
County 1319 sales
$722
+4%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $749/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Warehouse, Storage
Gross theoretical uplift
+129%
vs current-use indication
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 6 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.10M
Move the market yield to see immediate price impact.
Value / SF
$745
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$258k
$5.17M
$3.69M
$2.87M
$287k
$5.74M
$4.10M
$3.19M
$316k
$6.31M
$4.51M
$3.51M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
6 found
High confidence · county-verified
Closest comparable
$1.85M
1.6 mi · Jan 2026 · $262/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$85,404
Tax year 2024
Assessed value
$806,310
Assessed 2024
Previous assessed
$1,148,249
-29.8% YoY
Effective rate
10.59%
On assessed value
Assessed land
$806,310
Land market value
$2,753,000
Total market value
$2,753,000
Applied tax rate
4.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Lease
Year built
1924
Heating
NONE
Buildings
1
Stories
1
Total area
5,500 SF
Lot
0.57 ac (24,724 SF)
Zoning code
R9
APN
01660-0001
UPID
US63-0830264
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R9 · New York, NYZoning R9 · permitted uses
R9 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1924
Heating
NONE
Stories
1
Buildings
1
Lot
0.57 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R9
Jurisdiction
New York, NY
Recorded code
R9
Ownership Intelligence
Find the owner behind the property.
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Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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