Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2140 1st Ave New York, NY 10029

    • Warehouses
    • 257,400 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Dec 29, 2021
    $267,400,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1843082
    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

    • Warehouses

    Property Details for 2140 1st Ave

    Year built
    1913
    Lot size
    0.50 lot acres
    Property size
    257,400 SF
    Zone code
    M1-4
    Property type
    Warehouses
    APN
    01704-0001
    APU
    17040001

    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
    -73.9376
    Latitude
    40.7924
    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
    $1,301,990
    $769,950
    $12,641,760
    $13,411,710
    -
    $1,711,000
    $25,605,000
    $27,316,000

    Comparable in this City

    • Value Estimation
      $225,000
      9,580 SF

      327-329 103rd St

      WAREHOUSE, STORAGE • 9,580 SF
      327-329 103rd St, New York, NY 10029
      View Details
    • Value Estimation
      $330,000
      2,500 SF

      347 103rd St

      WAREHOUSE, STORAGE • 2,500 SF
      347 103rd St, New York, NY 10029
      View Details
    • Value Estimation
      $2,005,000
      2,732 SF

      303 111th St

      WAREHOUSE, STORAGE • 2,732 SF
      303 111th St, New York, NY 10029-3003
      View Details
    • Value Estimation
      $290,000
      12,348 SF

      331-333 103rd St

      WAREHOUSE, STORAGE • 12,348 SF
      331-333 103rd St, New York, NY 10029
      View Details
    • Value Estimation
      $295,000
      3,800 SF

      161 109th St, Unit 167

      WAREHOUSE, STORAGE • 3,800 SF
      161 109th St, New York, NY 10029-3606
      View Details
    • Value Estimation
      $1,765,000
      3,621 SF

      320 110th St

      WAREHOUSE, STORAGE • 3,621 SF
      320 110th St, New York, NY 10029
      View Details

    Similar Nearby for Sale

    • $6,900,000
      10,716 SF

      Park Avenue Retail Condo Opportunity

      10,716 SF Grocery Store, Vacant, $6.9M
      1516 Park Avenue, New York, NY 10029
      View Details
    • $645,000

      East Harlem Land Opportunity

      Prime NYC lot, buildable space.
      275 Pleasant Ave, New York, NY 10029
      View Details
    • Contact for pricing

      Madison Ave Development Opportunity

      Prime NYC Land: 3,750 SF, R7-2/C1-5 Zoning
      1655 Madison Ave, New York, NY 10029
      View Details
    • Contact for pricing

      Luxury East Harlem Apartment Building

      59 Units, 5% Cap Rate, New Construction
      1516 Park Avenue, New York, NY 10029
      View Details
    • $639,000
      557 SF

      Upscale Residences Near Central Park

      42 modern residences, studios to two-bedroom homes, with amenities.
      168 E 111Th St, Manhattan, NY 10029
      View Details
    • $795,000

      Apartment Building on 5TH Ave

      Apartment building for sale on 5TH Ave, New York.
      1270 5Th Ave, New York, NY 10029
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,650 SF

      East 106th Street Retail Space

      Prime NYC Retail/Industrial Space Available
      172 106Th St, New York, NY 10029
      View Details
    • $73 SF/Yr
      1,800 SF

      Prime East Harlem Retail Space

      1,800 SF Retail Space - High Traffic
      2147 2Nd Ave, New York, NY 10029
      View Details
    • $810 /Mo
      800 SF

      Prime East Harlem Retail Space

      800 sq ft, High Traffic Location
      451 116Th St, New York, NY 10029
      View Details
    • Contact for pricing
      1,460 SF

      Madison Avenue Retail Space Available

      Retail space with high visibility and heavy pedestrian traffic.
      1490 Madison Ave, New York, NY 10029
      View Details
    • $5,000 /Mo
      620 SF

      Retail Space on Second Avenue

      Retail space in white-box condition with high foot traffic.
      2164 2Nd Ave, New York, NY 10029
      View Details
    • Contact for pricing
      13,664 SF

      Prime NYC Medical Office Space

      13,664 SF, 3 Suites Available
      1955 1St Ave, New York, NY 10029
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2140 1st Ave
    New York, NY 10029
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.