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Property profile & analytics
OFF-MARKET
Estimated value
$3,525,000
Parking lots & garages
235 40th St Lbby A, New York, NY 10016-1744
Entity Owned
13-yr Hold
Free & Clear
Property ID
US63-1508914
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Year built
1986
Total area
15,141 SF
Zoning code
C1-9
APN
01314-1001
UPID
US63-1508914
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
-
Tower Cleaners Inc (Bike/Boat/Book/etc) Store
-
WELSTRUM Department Store
-
Dockage Link Storage Facility
-
The Vanderbilt Condominium Real Estate Agency Real Estate Consultant
-
Jayme R. Albin, Ph.D Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.53M
Owner & transaction history
Nyc 41st LLC · 13 yrs held
Nyc 41st LLC
since 2013
7 recorded transactions
Zoning & alternative use
C1-9 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$233 / 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
$142,182
Tax year 2024
Assessed value
$1,342,350
Assessed 2024
Previous assessed
$1,331,280
+0.8% YoY
Effective rate
10.59%
On assessed value
Assessed land
$405,000
Assessed improvement
$937,350
Land market value
$900,000
Improvement market value
$2,259,000
Total market value
$3,159,000
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
Parking lots & garages
Use group
PARKING GARAGE, PARKING STRUCTURE
Status
Off-Market
Year built
1986
Heating
NONE
Buildings
1
Stories
41
Units
1
Total area
15,141 SF
Zoning code
C1-9
APN
01314-1001
UPID
US63-1508914
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C1-9 · New York, NY
Zoning C1-9 · permitted uses
C1-9 · 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
1986
Heating
NONE
Stories
41
Buildings
1
Units
1
Current owner
From public records · entity-resolved
Nyc 41st LLC
Entity
Free & Clear · 13 yrs held
Mailing address
55 5TH AVE, NEW YORK, NY 10003-4301
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2013
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
Oct 11, 2018
—
East 61st Garage LLC
—
Grant Deed
related
$6,418,606 · Miscellaneous Ins Co
Jun 27, 2013
$945,097
Nyc 41st LLC
Marathon Nyc Parking Holdings
Grant Deed
—
Jun 27, 2013
—
Marathon Nyc Parking Holdings
Quik Park Nyc Fee LLC
Grant Deed
—
Feb 21, 2012
—
Quik Park 61st Street LLC
—
Grant Deed
related
$7,578,390 · Axa Equitable Life Ins Co
Jul 26, 2006
—
Quik Park 61st Street LLC
—
Deed Of Trust
related
$3,840,000 · Axa Equitable Life Ins Co
Apr 27, 2005
$1,000,000
Quik Park Eagle LLC
Eagle LLC
Grant Deed
—
—
—
Nyc 34th LLC
—
Deed Of Trust
related
$32,000,000 · Axa Equitable Life Ins Co
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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