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Property profile & analytics
OFF-MARKET
Investment properties
238 Mulberry St New York, NY 10012-4288
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-0853284
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1900
Total area
6,375 SF
Lot
0.06 ac (2,475 SF)
Zoning code
C6-2
APN
00494-0008
UPID
US63-0853284
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
-
Nally Jackson Booksellers (Bike/Boat/Book/etc) Store
-
Standard & Strange Clothing & Fashion Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Gef Development Corp. · 1 yrs held
Gef Development Corp.
since 2025
Last sale
$9.2M
7 recorded transactions
Zoning & alternative use
C6-2 · 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
—
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
$89,023
Tax year 2024
Assessed value
$712,074
Assessed 2024
Previous assessed
$659,329
+8.0% YoY
Effective rate
12.50%
On assessed value
Assessed land
$126,230
Assessed improvement
$585,844
Land market value
$1,120,000
Improvement market value
$5,198,000
Total market value
$6,318,000
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
6,375 SF
Lot
0.06 ac (2,475 SF)
Zoning code
C6-2
APN
00494-0008
UPID
US63-0853284
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-2 · New York, NY
Zoning C6-2 · permitted uses
C6-2 · 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
1900
Heating
NONE
Stories
4
Buildings
1
Units
4
Lot
0.06 ac
Current owner
From public records · entity-resolved
Gef Development Corp.
Entity
Free & Clear · 1 yrs held
Mailing address
238 MULBERRY ST, NEW YORK, NY 10012-4288
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 18, 2025
$9,200,000
Gef Development Corp.
Mulberry 238 Realty LLC
Deed
—
Aug 21, 2017
—
Mulberry 238 Realty LLC
—
Loan Modification, Consolidation And Extension
related
$5,000,000 · Td Bk NA
Jan 11, 2013
$650,000
Thomas Rasmussen
Bennett,michael
Grant Deed
—
Jan 11, 2013
—
Mulberry 238 Realty LLC
Bennett,michael
Grant Deed
$1,310,789 · Ridgewood Savings Bank
Jan 11, 2013
$325,000
Thomas Rasmussen
Mc Lain,robert
Grant Deed
—
Nov 10, 2010
$975,000
Thomas Rasmussen
Mclain,robert
Grant Deed
—
Aug 27, 2010
—
Michael Bennett
Mulberry 238 Realty LLC
Grant Deed
—
Apr 16, 2010
—
Mulberry 238 Realty LLC
Bennett,michael
Grant Deed
—
Jul 21, 1998
$1,150,000
Michael Bennett
Levy,ron
Grant Deed
related
$499,499 · Emigrant Funding Corp
—
—
Mulberry 238 Realty LLC
—
Deed Of Trust
related
$3,550,000 · Ridgewood Savings Bank
—
—
Michael R Bennett
—
Deed Of Trust
related
$1,365,540 · Citibank NA
—
—
Michael R Bennett
—
Deed Of Trust
related
$2,500,000 · Citibank NA
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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