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Property profile & analytics
FOR LEASE
Banks
223 Spencer St Brooklyn, NY 11205
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-6007412
For Lease
1 / 2
Contact for pricing
223 Spencer St, Brooklyn, NY 11205
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2018
Total area
19,706 SF
Lot
0.08 ac (3,467 SF)
Zoning code
M1-5
APN
01763-0002
UPID
US63-6007412
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
-
Harmony Disinfecting Commercial Cleaning Service
-
Graystone Abstract Law Firm
-
Empire Insurance Brokerage Insurance Agency
-
G Star Brokerage Insurance Agency
-
The Mint Capital Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
223 Spencer LLC · 9 yrs held
223 Spencer LLC
since 2017
7 recorded transactions
Zoning & alternative use
M1-5 · Brooklyn, 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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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
—
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
$148,864
Tax year 2024
Assessed value
$1,609,200
Assessed 2024
Previous assessed
$1,480,950
+8.7% YoY
Effective rate
9.25%
On assessed value
Assessed land
$75,150
Assessed improvement
$1,534,050
Land market value
$167,000
Improvement market value
$3,409,000
Total market value
$3,576,000
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
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Year built
2018
Heating
NONE
Buildings
1
Stories
7
Units
2
Total area
19,706 SF
Lot
0.08 ac (3,467 SF)
Zoning code
M1-5
APN
01763-0002
UPID
US63-6007412
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-5 · Brooklyn, NY
Zoning M1-5 · permitted uses
M1-5 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2018
Heating
NONE
Stories
7
Buildings
1
Units
2
Lot
0.08 ac
Current owner
From public records · entity-resolved
223 Spencer LLC
Entity
Mailing address
183 WILSON ST #326, BROOKLYN, NY 11211-7578
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 13, 2021
—
223 Spencer LLC
—
Deed
related
$9,450,000 · Bethpage Federal Credit Union
Jun 4, 2020
—
223 Spencer LLC
—
Deed
related
$8,065,000 · Cross River Bk
Jan 18, 2018
—
223 Spencer LLC
—
Loan Modification, Consolidation And Extension
related
$2,700,000 · Brackley Properties 223 LLC
May 15, 2017
$2,300,000
223 Spencer LLC
Sdr LLC
Grant Deed
$2,500,000 · Cp Capital II LLC
May 4, 2007
$70,000
Sdr LLC
Middleland INC
Grant Deed
—
—
—
223 Spencer LLC
—
Loan Modification
related
$8,065,000 · Cross River Bk
—
—
223 Spencer LLC
—
Deed Of Trust
related
$200,000 · Brackley Properties 223 LLC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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