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Property profile & analytics
OFF-MARKET
Estimated value
$4,400,000
Retail space
220 42nd St 1, New York, NY 10017-5835
Entity Owned
5-yr Hold
Free & Clear
Property ID
US63-5435437
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1928
Total area
67,082 SF
Lot
1.61 ac (70,132 SF)
Zoning code
C5-2
APN
01315-1002
UPID
US63-5435437
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
-
Out Of The Clear Blue Sky Film Production Television Studio
-
EDSBYN SENAB INC. General Contractor Renovation Specialist
-
Nastasi Law Group, P.C. Law Firm
-
Jerry Kindman Law Offices Law Firm
-
ALSAC/St. Jude Children's Research Hospital Hospital Children's Hospital
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.40M
Owner & transaction history
Slg 220 News Lessee LLC · 5 yrs held
Slg 220 News Lessee LLC
since 2021
7 recorded transactions
Zoning & alternative use
C5-2 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$66 / 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
$1,599,793
Tax year 2024
Assessed value
$16,435,918
Assessed 2024
Previous assessed
$16,290,404
+0.9% YoY
Effective rate
9.73%
On assessed value
Assessed land
$1,894,671
Assessed improvement
$14,541,247
Land market value
$4,210,380
Improvement market value
$29,353,592
Total market value
$33,563,972
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1928
Heating
NONE
Buildings
1
Stories
37
Units
1
Total area
67,082 SF
Lot
1.61 ac (70,132 SF)
Zoning code
C5-2
APN
01315-1002
UPID
US63-5435437
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.
Building & site characteristics
From public records
Year built
1928
Heating
NONE
Stories
37
Buildings
1
Units
1
Lot
1.61 ac
Current owner
From public records · entity-resolved
Slg 220 News Lessee LLC
Entity
Free & Clear · 5 yrs held
Mailing address
420 LEXINGTON AVE, NEW YORK, NY 10170-0002
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 28, 2021
—
Slg 220 News Lessee LLC
Sl Green Operating Partnership, L.p
Deed
—
Oct 17, 2018
—
Slg 220 News Owner LLC
—
Loan Modification
related
$275,000,000 · Wells Fargo Bk
—
—
Slg 220 News Owner LLC
—
Loan Modification
related
$510,000,000 · Aareal Cap
—
—
Slg 220 News Owner LLC
—
Deed Of Trust
related
$154,084,367 · Aareal Cap
—
—
Slg 625 Lessee LLC
—
Loan Modification
related
$136,240,138 · Wells Fargo Bk
—
—
125 Park Owner LLC
—
Loan Modification
related
$77,592,234 · Wells Fargo Bk
—
—
Slg 711 Fee LLC
—
Loan Modification
related
$120,000,000 · Wells Fargo Bk
—
—
Slg 220 News Owner LLC
—
Loan Modification
related
$355,915,632 · Wells Fargo 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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