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Property profile & analytics
OFF-MARKET
Estimated value
$19,720,000
Investment properties
21-23 34th St New York, NY 10001
Individually Owned
9-yr Hold
~
Est. High Equity
Property ID
US63-3135552
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
2009
Total area
19,054 SF
Lot
0.16 ac (6,897 SF)
Zoning code
C5-3
APN
00836-0018
UPID
US63-3135552
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$19.72M
Owner & transaction history
21-25 West 34th Air Rights Own · 9 yrs held
21-25 West 34th Air Rights Own
since 2016
7 recorded transactions
Zoning & alternative use
C5-3 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$27.5M
+75.2%
Retail stores
$25.1M
+59.9%
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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$15,675,000
Current use
INDUSTRIAL (GENERAL)
$27,460,000
Change: +75% · Conversion: Moderate
RETAIL STORES
$25,055,000
Change: +60% · Conversion: Easy
WAREHOUSE, STORAGE
$15,570,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$19.72M
Range $17.75M – $21.69M · ±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
$1,035 / 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
$1,933,347
Tax year 2024
Assessed value
$24,928,380
Assessed 2024
Previous assessed
$27,363,150
-8.9% YoY
Effective rate
7.76%
On assessed value
Assessed land
$3,028,500
Assessed improvement
$21,899,880
Land market value
$6,730,000
Improvement market value
$33,832,000
Total market value
$40,562,000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
2009
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
19,054 SF
Lot
0.16 ac (6,897 SF)
Zoning code
C5-3
APN
00836-0018
UPID
US63-3135552
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C5-3 · New York, NY
Zoning C5-3 · permitted uses
C5-3 · 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
COMMERCIAL (GENERAL) Current
Est. value
$15.7M
INDUSTRIAL (GENERAL)
Est. value
$27.5M
RETAIL STORES
Est. value
$25.1M
WAREHOUSE, STORAGE
Est. value
$15.6M
COMMERCIAL (GENERAL) Current
INDUSTRIAL (GENERAL)
RETAIL STORES
WAREHOUSE, STORAGE
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
2009
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
21-25 West 34th Air Rights Own
Individual
Mailing address
500 5TH AVE FL #54, NEW YORK, NY 10110-5500
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 20, 2016
—
21-25 West 34th Air Rights Own
21 West 34 Owner LLC
Quit Claim Deed
—
Aug 9, 2016
—
21 West 34 Owner LLC
21 West 34 Owner LLC
Quit Claim Deed
related
—
Jun 6, 2008
—
21 West 34 Owner LLC
—
Deed Of Trust
related
$100,000,000 · Wells Fargo Bank
Jan 11, 2007
—
21 West 34 Owner LLC
—
Deed Of Trust
related
$71,031,828 · Wachovia Bank NA
Jul 3, 2006
—
1551 Broadway Owner LLC
—
Deed Of Trust
related
$19,173,677 · Eurohypo Ag
Aug 1, 2005
$20,000,000
21 West 34 Owner LLC
Rubenstein Bros & Lov R C
Grant Deed
—
Aug 1, 2005
—
1551 Broadway Owner LLC
—
Deed Of Trust
related
$10,373,677 · Eurohypo Ag
—
—
21 West 34 Owner LLC
—
Loan Modification, Consolidation And Extension
related
$101,000,000 · Signature Bk
—
—
21 West 34 Owner LLC
—
Deed Of Trust
related
$1,000,000 · Signature Bk
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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