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Property profile & analytics
OFF-MARKET
Estimated value
$19,340,000
Warehouses
2340 5th Ave 2358 New York, NY 10037-1624
Individually Owned
3-yr Hold
Free & Clear
Property ID
US63-2558062
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1932
Total area
48,107 SF
Lot
0.46 ac (19,983 SF)
Zoning code
M1-1
APN
01739-0033
UPID
US63-2558062
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
-
HARLEM STUDIO Theater & Performing Art Venue Nightclub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$13.06M
Comparable Approach
Comparable
$16.24M
Blend (final)
Blend
$19.34M
Owner & transaction history
Prime Storage Fifth Avenue Harlem, · 3 yrs held
Prime Storage Fifth Avenue Harlem,
since 2023
Last sale
$22.9M
5 recorded transactions
Zoning & alternative use
M1-1 · 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
Method
Estimation
Statistic approach
$21,695,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$14,145,000
6.5%
$13,055,000
7%
$12,125,000
Blend value · Realmo final
$19.34M
Range $17.41M – $21.27M · ±10% · vs last sale $22.85M (Mar 17 2023)
Last sale anchor
$22.85M
Mar 17 2023
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
$402 / 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
$363,771
Tax year 2024
Assessed value
$3,434,390
Assessed 2024
Previous assessed
$3,343,580
+2.7% YoY
Effective rate
10.59%
On assessed value
Assessed land
$179,550
Assessed improvement
$3,254,840
Land market value
$395,000
Improvement market value
$7,734,000
Total market value
$8,129,000
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
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1932
Heating
NONE
Buildings
1
Stories
3
Units
1
Total area
48,107 SF
Lot
0.46 ac (19,983 SF)
Zoning code
M1-1
APN
01739-0033
UPID
US63-2558062
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-1 · New York, NY
Zoning M1-1 · permitted uses
M1-1 · 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
1932
Heating
NONE
Stories
3
Buildings
1
Units
1
Lot
0.46 ac
Current owner
From public records · entity-resolved
Prime Storage Fifth Avenue Harlem,
Individual
Free & Clear · 3 yrs held
Mailing address
85 RAILROAD PL, SARATOGA SPRINGS, NY 12866-2124
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 27, 2025
—
Prime Storage Fifth Avenue Harlem,
—
Deed
related
$6,126,500 · Citi Real Estate Funding INC.
Dec 18, 2023
—
Prime Storage Fifth Avenue Harlem,
—
Deed
related
$750,000,000 · Citibank, N.a.
Mar 17, 2023
$22,850,000
Prime Storage Fifth Avenue Harlem,
2350 Fifth Avenue Corp.
Deed
—
Mar 21, 2006
—
2350 Fifth Avenue LLC
—
Deed Of Trust
related
$2,100,000 · Park Avenue Bank
—
—
2350 Fifth Avenue LLC
—
Deed Of Trust
related
$600,000 · Park Avenue Bank
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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