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Property profile & analytics
OFF-MARKET
Estimated value
$4,675,000
Flex space
237 Park Avecu6, New York, NY 10017-3140
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-5264555
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1915
Total area
44,139 SF
Zoning code
C5-3
APN
01300-1008
UPID
US63-5264555
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
$3.94M
Blend (final)
Blend
$4.68M
Owner & transaction history
Metropolitan Transportation Au · 5 yrs held
Metropolitan Transportation Au
since 2021
6 recorded transactions
Zoning & alternative use
C5-3 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.68M
Range $4.21M – $5.14M · ±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
$106 / 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
$872,718
Tax year 2024
Assessed value
$8,239,404
Assessed 2024
Previous assessed
$8,317,552
-0.9% YoY
Effective rate
10.59%
On assessed value
Assessed land
$235,040
Assessed improvement
$8,004,364
Land market value
$522,312
Improvement market value
$18,668,215
Total market value
$19,190,527
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1915
Heating
NONE
Buildings
2
Stories
21
Units
1
Total area
44,139 SF
Zoning code
C5-3
APN
01300-1008
UPID
US63-5264555
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C5-3 · New York, NY
Zoning C5-3 · permitted uses
C5-3 · 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
1915
Heating
NONE
Stories
21
Buildings
2
Units
1
Current owner
From public records · entity-resolved
Metropolitan Transportation Au
Individual
Free & Clear · 5 yrs held
Mailing address
2 BROADWAY, NEW YORK, NY 10004-2207
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 3, 2021
—
Metropolitan Transportation Au
Midtown Trackage Ventures LLC
Correction Deed
related
—
Sep 29, 2020
—
Josette Y Chan
—
Deed
related
$365,000 · Victorio R Chan
May 13, 2020
$33,072,264
Metropolitan Transportation Au
Midtown Trackage Ventures LLC
Grant Deed
—
Mar 4, 2020
$33,072,264
Metropolitan Transportation Au
Midtown Trackage Ventures LLC
Grant Deed
—
Aug 3, 2017
—
237 Park Owner LLC
—
Loan Modification, Consolidation And Extension
related
$598,200,000 · Morgan Stanley Bk
—
—
Josette Y Chan
—
Deed Of Trust
related
$365,000 · Victorio R Chan
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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