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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2028 Madison Ave New York, NY 10035-1017

    • Garden apartment buildings
    • 2,093 SF
    • 0.02 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1653112
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Garden apartment buildings

    Property Details for 2028 Madison Ave

    Year built
    1905
    Lot size
    0.02 lot acres
    Property size
    2,093 SF
    Zone code
    R7A
    Property type
    Garden apartment buildings
    APN
    01753-0017
    APU
    17530017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9393
    Latitude
    40.808
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $8,213
    $28,751
    $36,942
    $65,693
    -
    $172,000
    $221,000
    $393,000

    Comparable in this City

    • Value Estimation by Request
      2,463 SF

      2036 Madison Ave

      GARDEN APT, COURT APT (5+ UNITS) • 2,463 SF
      2036 Madison Ave, New York, NY 10035-1033
      View Details
    • Value Estimation
      $740,000
      2,994 SF

      7 124th St

      GARDEN APT, COURT APT (5+ UNITS) • 2,994 SF
      7 124th St, New York, NY 10035-2717
      View Details
    • Value Estimation
      $595,000
      2,700 SF

      2011 5th Ave

      GARDEN APT, COURT APT (5+ UNITS) • 2,700 SF
      2011 5th Ave, New York, NY 10035-1804
      View Details
    • Value Estimation
      $515,000
      2,706 SF

      31 126th St

      GARDEN APT, COURT APT (5+ UNITS) • 2,706 SF
      31 126th St, New York, NY 10035-1526
      View Details
    • Value Estimation by Request
      2,706 SF

      17 126th St

      GARDEN APT, COURT APT (5+ UNITS) • 2,706 SF
      17 126th St, New York, NY 10035-1528
      View Details
    • Value Estimation by Request
      2,850 SF

      19 129th St

      GARDEN APT, COURT APT (5+ UNITS) • 2,850 SF
      19 129th St, New York, NY 10035-1008
      View Details

    Similar Nearby for Sale

    • $990,000
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      Harlem Brownstone Multifamily Investment Opportunity

      25-foot-wide, 7-unit building in prime Harlem location.
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    • $375,000

      Apartment Building for Sale

      Apartment building available for purchase.
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    • $200,000

      Prewar Apartment in Prime Location

      Charming prewar apartment near dining, shopping, and transportation.
      205 E 124Th St, New York, NY 10035
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    • $1,995,000
      0.03 Acres

      East Harlem Multifamily Investment Opportunity

      12-unit, rent-stabilized building in prime location with income potential.
      1889 Lexington Ave, Manhattan, NY 10035
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    • $1,250,000
      Pending

      East Harlem Mixed-Use Building

      Multi-use building in East Harlem with residential and commercial units.
      2056 Madison Ave, New York, NY 10035
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    • $699,000

      Madison Avenue Apartment Building

      Apartment building located on Madison Avenue in New York.
      1831 Madison Ave, New York, NY 10035
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    Similar Nearby for Lease

    • $47 SF/Yr
      60,000 SF

      Upper East Side Office Space

      Prestigious East Harlem Offices, 200-18,400 SF
      116 124Th St, New York, NY 10035
      View Details
    • $6,000 /Mo

      Prime Ground Floor Retail Space

      Retail space in high-traffic, dense residential neighborhood.
      2413B 2Nd Ave, New York, NY 10035
      View Details
    • $4,600 /Mo

      East Harlem Storefront on 2nd Avenue

      Prime retail space in East Harlem with high visibility.
      2296 New York Plz, Manhattan, NY 10035
      View Details
    • Contact for pricing
      2,420 SF

      Prime Harlem Retail Space

      2,420 SF Vacant Retail Space in NYC
      79 125Th St, New York, NY 10035
      View Details
    • Contact for pricing
      2,650 SF

      Prime NYC Retail Space for Lease

      2,650 SF Retail Space in Manhattan
      2198 3Rd Ave, New York, NY 10035
      View Details
    • Contact for pricing
      1,210 SF

      Former Restaurant Space Available

      Restaurant space with utilities and ventilation in place, excellent visibility.
      145 E 125Th St, New York, NY 10035
      View Details
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    2028 Madison Ave
    New York, NY 10035-1017
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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