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Property profile & analytics
OFF-MARKET
Estimated value
$9,480,000
Office buildings
218 Madison Ave New York, NY 10016-3466
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-0774952
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1920
Total area
11,362 SF
Lot
0.08 ac (3,521 SF)
Zoning code
C5-2
APN
00866-0016
UPID
US63-0774952
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
-
Charapko Peter W Architect
-
George Hillenbrand Associates Inc Interior Design Home Decor Store
-
Park City Florist (Bike/Boat/Book/etc) Store Florist
-
Been Jacob Lmt Neuromusclar Physician
-
M K Lifestyle Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.04M
CAP Approach
CAP
$5.84M
Comparable Approach
Comparable
$6.61M
Blend (final)
Blend
$9.48M
Owner & transaction history
218 Madison Avenue Development LLC · 2 yrs held
218 Madison Avenue Development LLC
since 2023
Last sale
$12.0M
7 recorded transactions
Zoning & alternative use
C5-2 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$14.9M
+105.9%
Warehouse, storage
$9.3M
+27.9%
Apartment house (5+ units)
$8.7M
+20.2%
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
$11,395,000
ML approach
$9,035,000
CAP Approach
CAP Return
Estimation
6%
$6,325,000
6.5%
$5,840,000
7%
$5,420,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,260,000
Current use
RETAIL STORES
$14,940,000
Change: +106% · Conversion: Moderate
WAREHOUSE, STORAGE
$9,285,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,725,000
Change: +20% · Conversion: Easy
COMMERCIAL (GENERAL)
$7,805,000
Change: +8% · Conversion: Easy
Blend value · Realmo final
$9.48M
Range $8.53M – $10.43M · ±10% · vs last sale $12.00M (Dec 20 2023)
Last sale anchor
$12.00M
Dec 20 2023
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
$834 / 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
$141,369
Tax year 2024
Assessed value
$1,334,680
Assessed 2024
Previous assessed
$1,410,560
-5.4% YoY
Effective rate
10.59%
On assessed value
Assessed land
$945,000
Assessed improvement
$389,680
Land market value
$2,100,000
Improvement market value
$1,332,000
Total market value
$3,432,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1920
Heating
NONE
Buildings
1
Stories
4
Units
16
Total area
11,362 SF
Lot
0.08 ac (3,521 SF)
Zoning code
C5-2
APN
00866-0016
UPID
US63-0774952
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C5-2 · New York, NY
Zoning C5-2 · permitted uses
C5-2 · 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
$7.3M
RETAIL STORES
Est. value
$14.9M
WAREHOUSE, STORAGE
Est. value
$9.3M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.7M
COMMERCIAL (GENERAL)
Est. value
$7.8M
OFFICE BUILDING Current
RETAIL STORES
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1920
Heating
NONE
Stories
4
Buildings
1
Units
16
Lot
0.08 ac
Current owner
From public records · entity-resolved
218 Madison Avenue Development LLC
Entity
Free & Clear · 2 yrs held
Mailing address
227 SEA BREEZE AVEC-4034, BROOKLYN, NY 11224-3793
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 24, 2025
—
218 Madison Avenue Development LLC
—
Deed
related
$20,819,594 · Valley National Bank
Dec 20, 2023
$12,000,000
218 Madison Avenue Development LLC
Asrr Suzer 218 LLC
Deed
—
Apr 1, 2019
—
Asrr Suzer 218 LLC
—
Deed
related
$10,250,000 · Israel Discount Bk/ny
Mar 12, 2015
$6,965,625
Asrr Suzer 218 LLC
218 Madison Ave LLC
Grant Deed
—
Mar 12, 2015
$8,126,562
Asrr Suzer 218 LLC
218 Madison Co LLC
Grant Deed
—
Mar 12, 2015
$3,482,812
Asrr Suzer 218 LLC
New Red Hat LLC
Grant Deed
—
Feb 17, 2015
—
New Red Hat LLC
218 Madison Co LLC
Quit Claim Deed
—
May 4, 2011
—
218 Madison Ave LLC
Bernstein,mija
Grant Deed
—
Oct 7, 2009
—
218 Madison Co LLC
Bernstein,edgar
Grant Deed
—
—
—
Asrr Suzer 218 LLC
—
Deed Of Trust
related
$10,250,000 · Israel Discount Bk/ny
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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