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Property profile & analytics
OFF-MARKET
Estimated value
$690,000
Theaters & concert halls
222 45th St 233, New York, NY 10036-3901
Entity Owned
19-yr Hold
Free & Clear
Property ID
US63-2738467
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1912
Total area
60,232 SF
Lot
0.58 ac (25,305 SF)
Zoning code
C6-5
APN
01016-0015
UPID
US63-2738467
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
-
One Shubert Alley (Bike/Boat/Book/etc) Store
-
Booth Theatre Theater & Performing Art Venue
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$630k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$753k
Blend (final)
Blend
$690k
Owner & transaction history
Shubert & Booth Theatre LLC · 19 yrs held
Shubert & Booth Theatre LLC
since 2007
1 recorded transaction
Zoning & alternative use
C6-5 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+5.0%
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
$630,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
THEATER (MOVIE)
$965,000
Current use
OFFICE BUILDING
$1,015,000
Change: +5% · Conversion: Difficult
Blend value · Realmo final
$690k
Range $621k – $759k · ±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
$11 / 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
$552,741
Tax year 2024
Assessed value
$5,218,480
Assessed 2024
Previous assessed
$5,230,090
-0.2% YoY
Effective rate
10.59%
On assessed value
Assessed land
$3,780,000
Assessed improvement
$1,438,480
Land market value
$8,400,000
Improvement market value
$4,121,000
Total market value
$12,521,000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1912
Heating
NONE
Buildings
2
Stories
5
Units
2
Total area
60,232 SF
Lot
0.58 ac (25,305 SF)
Zoning code
C6-5
APN
01016-0015
UPID
US63-2738467
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-5 · New York, NY
Zoning C6-5 · permitted uses
C6-5 · 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
THEATER (MOVIE) Current
Est. value
$965,000
OFFICE BUILDING
Est. value
$1.0M
THEATER (MOVIE) Current
OFFICE BUILDING
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
1912
Heating
NONE
Stories
5
Buildings
2
Units
2
Lot
0.58 ac
Current owner
From public records · entity-resolved
Shubert & Booth Theatre LLC
Entity
Free & Clear · 19 yrs held
Mailing address
234 W 44TH ST FL, NEW YORK, NY 10036-3909
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2007
—
Shubert & Booth Theatre LLC
Shubert Organization INC
Quit Claim Deed
related
—
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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