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Property profile & analytics
OFF-MARKET
Estimated value
$4,890,000
Specialty properties
230 47th St, New York, NY 10017
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US63-3501895
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1931
Total area
118,442 SF
Lot
0.32 ac (13,858 SF)
Zoning code
R10
APN
01320-0034
UPID
US63-3501895
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.89M
Blend (final)
Blend
$4.89M
Owner & transaction history
New York City Industrial Devel · 19 yrs held
New York City Industrial Devel
since 2006
1 recorded transaction
Zoning & alternative use
R10 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.1M
+96.2%
Commercial (general)
$4.4M
+69.2%
Apartment house (5+ units)
$3.6M
+36.9%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$5,130,000
Change: +96% · Conversion: Difficult
COMMERCIAL (GENERAL)
$4,425,000
Change: +69% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,580,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$4.89M
Range $4.40M – $5.38M · ±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
$41 / 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
Assessed value
$17,158,320
Assessed 2024
Previous assessed
$17,568,000
-2.3% YoY
Assessed land
$4,225,500
Assessed improvement
$12,932,820
Land market value
$9,390,000
Improvement market value
$30,563,000
Total market value
$39,953,000
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
10
Units
2
Total area
118,442 SF
Lot
0.32 ac (13,858 SF)
Zoning code
R10
APN
01320-0034
UPID
US63-3501895
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R10 · New York, NY
Zoning R10 · permitted uses
R10 · 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
AUTO REPAIR, GARAGE
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$4.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.6M
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
APARTMENT HOUSE (5+ UNITS)
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
1931
Heating
NONE
Stories
10
Buildings
1
Units
2
Lot
0.32 ac
Current owner
From public records · entity-resolved
New York City Industrial Devel
Entity
Mailing address
224 E 47TH ST, NEW YORK, NY 10017-2102
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
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
Oct 2, 2006
—
New York City Industrial Devel
—
Deed Of Trust
related
$32,290,000 · Bank Of New York
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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