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Property profile & analytics
OFF-MARKET
Estimated value
$2,970,000
Investment properties
2296 2nd Ave New York, NY 10035-4808
Entity Owned
6-yr Hold
Free & Clear
Property ID
US63-0015487
Property summary
AI-generated overview
This exceptional newly renovated four-story brick corner building in the heart of Historic East Harlem presents a compelling mixed-use investment opportunity. Boasting 1,531 square feet on a prime lot at 2296 2nd Ave, New York, NY 10035, this 1900-built property offers three residential units and retail space, along with two convenient on-site garages. The building features a new roof and all utilities (gas, water, and heat) are separately metered. Zoned R9A, C2-5, EHC/TA, it benefits from a residential FAR of 7-52. Its strategic location near the East River Plaza (with Costco and Target), numerous restaurants and cafes, and the upcoming Q Train station (Phase 2 of the Second Ave Subway project) promises significant future appreciation. This property represents a rare chance to acquire a well-maintained, income-generating asset in a rapidly developing area of Upper Manhattan, known for its strong blue-chip residential development potential. The spacious three-bedroom units and the added benefit of two garages enhance the property's overall value and appeal. The asking price is $3,980,000.
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Total area
4,492 SF
Lot
0.04 ac (1,531 SF)
Zoning code
R9A
APN
01689-0049
UPID
US63-0015487
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
-
ULTIMATE BLACK CAR Car Rental Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.84M
CAP Approach
CAP
$2.21M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.97M
Owner & transaction history
Union Property Group LLC · 6 yrs held
Union Property Group LLC
since 2020
Last sale
$3.1M
3 recorded transactions
Zoning & alternative use
R9A · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.7M
+138.4%
Office building
$2.9M
+86.3%
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
$2,835,000
ML approach
$2,840,000
CAP Approach
CAP Return
Estimation
6%
$2,385,000
6.5%
$2,205,000
7%
$2,045,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,670,000
Change: +138% · Conversion: Difficult
OFFICE BUILDING
$2,870,000
Change: +86% · Conversion: Easy
Blend value · Realmo final
$2.97M
Range $2.67M – $3.27M · ±10% · vs last sale $3.10M (Apr 8 2020)
Last sale anchor
$3.10M
Apr 8 2020
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
$661 / 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
$12,802
Tax year 2024
Assessed value
$102,401
Assessed 2024
Previous assessed
$94,869
+7.9% YoY
Effective rate
12.50%
On assessed value
Assessed land
$11,346
Assessed improvement
$91,055
Land market value
$117,000
Improvement market value
$939,000
Total market value
$1,056,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1900
Heating
NONE
Buildings
1
Stories
4
Units
4
Total area
4,492 SF
Lot
0.04 ac (1,531 SF)
Zoning code
R9A
APN
01689-0049
UPID
US63-0015487
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R9A · New York, NYZoning R9A · permitted uses
R9A · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$3.7M
OFFICE BUILDING
Est. value
$2.9M
WAREHOUSE, STORAGE
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
1900
Heating
NONE
Stories
4
Buildings
1
Units
4
Lot
0.04 ac
Current owner
From public records · entity-resolved
Union Property Group LLC
Entity
Free & Clear · 6 yrs held
Mailing address
2296 2ND AVE, NEW YORK, NY 10035-4808
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2020
$3,100,000
Union Property Group LLC
Jlk Realty Holding LLC
Grant Deed
—
Dec 31, 2013
$1,350,000
Jlk Realty Holding LLC
Perez,ivette
Grant Deed
$675,000 · Bcb Community Bank
—
—
Jlk Realty Holding LLC
—
Loan Modification, Consolidation And Extension
related
$1,389,000 · First Ctrl Svgs 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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