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Property profile & analytics
OFF-MARKET
Estimated value
$4,000,000
Office Spaces
2040 Frederick Douglass Blvd CFU New York, NY 10026-4025
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-5356308
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
2016
Total area
8,013 SF
Lot
0.31 ac (13,513 SF)
Zoning code
R8A
APN
01826-1203
UPID
US63-5356308
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
-
Mobile Car Buyer Car Dealership
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.00M
CAP Approach
CAP
$4.12M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.00M
Owner & transaction history
Kery Properties Equities LLC · 2 yrs held
Kery Properties Equities LLC
since 2024
Last sale
$4.0M
2 recorded transactions
Zoning & alternative use
R8A · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$6.6M
+27.9%
Commercial (general)
$6.3M
+23.4%
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
$4,000,000
ML approach
$4,000,000
CAP Approach
CAP Return
Estimation
6%
$4,460,000
6.5%
$4,115,000
7%
$3,825,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,120,000
Current use
WAREHOUSE, STORAGE
$6,550,000
Change: +28% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,315,000
Change: +23% · Conversion: Easy
Blend value · Realmo final
$4.00M
Range $3.60M – $4.40M · ±10% · vs last sale $4.00M (Jan 4 2024)
Last sale anchor
$4.00M
Jan 4 2024
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
$499 / 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
$2,839
Tax year 2024
Assessed value
$201,638
Assessed 2024
Previous assessed
$201,776
-0.1% YoY
Effective rate
1.41%
On assessed value
Assessed land
$20,778
Assessed improvement
$180,860
Land market value
$46,173
Improvement market value
$338,041
Total market value
$384,214
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
2016
Heating
NONE
Buildings
1
Stories
12
Units
1
Total area
8,013 SF
Lot
0.31 ac (13,513 SF)
Zoning code
R8A
APN
01826-1203
UPID
US63-5356308
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8A · New York, NY
Zoning R8A · permitted uses
R8A · 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 Current
Est. value
$5.1M
WAREHOUSE, STORAGE
Est. value
$6.6M
COMMERCIAL (GENERAL)
Est. value
$6.3M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
2016
Heating
NONE
Stories
12
Buildings
1
Units
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Kery Properties Equities LLC
Entity
Free & Clear · 2 yrs held
Mailing address
316 W 118TH ST, NEW YORK, NY 10026-1003
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 4, 2024
$4,000,000
Kery Properties Equities LLC
Dry LLC
Deed
—
Jul 7, 2022
$4,400,000
Bradhurst Equities LLC
Circa Equities LLC
Deed
—
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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