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Property profile & analytics
OFF-MARKET
Estimated value
$105,170,000
Theaters & concert halls
240 44th St, New York, NY 10036-3906
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-1619661
Property profile
Verified
Property type
Theaters & concert halls
Use group
THEATER (MOVIE)
Year built
1924
Total area
24,423 SF
Lot
0.17 ac (7,225 SF)
Zoning code
C6-5
APN
01015-0051
UPID
US63-1619661
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
-
The Hayes Theater Theater & Performing Art Venue
-
Windwood Theatricals Department Store
-
MATCHTIX Event Planning
-
David Gersten & Associates Marketing & Advertising Advertising Agency
-
Olive Tree TV · Film Production
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$105.17M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$105.17M
Owner & transaction history
Uig Lihtc Investor LLC · 2 yrs held
Uig Lihtc Investor LLC
since 2024
Last sale
$105.2M
6 recorded transactions
Zoning & alternative use
C6-5 · 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
$105,170,000
ML approach
$105,170,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$105.17M
Range $94.65M – $115.69M · ±10% · vs last sale $105.17M (Feb 16 2024)
Last sale anchor
$105.17M
Feb 16 2024
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
$4,306 / 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
$2,854,890
Assessed 2024
Previous assessed
$2,923,200
-2.3% YoY
Assessed land
$877,500
Assessed improvement
$1,977,390
Land market value
$1,950,000
Improvement market value
$4,698,000
Total market value
$6,648,000
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
Theaters & concert halls
Use group
THEATER (MOVIE)
Status
Off-Market
Year built
1924
Heating
NONE
Buildings
1
Stories
5
Units
1
Total area
24,423 SF
Lot
0.17 ac (7,225 SF)
Zoning code
C6-5
APN
01015-0051
UPID
US63-1619661
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-5 · New York, NY
Zoning C6-5 · permitted uses
C6-5 · 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
1924
Heating
NONE
Stories
5
Buildings
1
Units
1
Lot
0.17 ac
Current owner
From public records · entity-resolved
Uig Lihtc Investor LLC
Entity
Free & Clear · 2 yrs held
Mailing address
ATTN DANIEL ALGER 200TH W ST, NEW YORK, NY 10282
Ownership since
2024
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
Feb 16, 2024
$105,171,185
Uig Lihtc Investor LLC
Fdic As Receiver For Signature Brid
Deed
—
Apr 24, 2018
—
240 West 44th Street Two LLC
—
Loan Modification
related
$16,500,000 · Signature Bk
Jul 3, 2017
$5,000,000
Jujamcyn Theaters LLC
240 West 44th Street Two LLC
Grant Deed
—
Jul 3, 2017
—
240 West 44th Street Two LLC
240 West 44th Street Two LLC
Quit Claim Deed
related
—
Apr 20, 2017
—
240 West 44th Street Two LLC
—
Loan Modification
related
$16,500,000 · Signature Bk
May 4, 2015
$24,750,000
240 West 44th Street Two LLC
Little Theater Group LLC
Deed
$16,500,000 · Signature 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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