Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    244 58th St New York, NY 10022-2001

    • Office buildings
    • 11,000 SF
    • 0.05 lot acres
    OFF-MARKET
    Last Sale
    Jan 31, 2022
    $10,500,000
    Value Estimations
    $7,755,000
    Show details
    Cap Rate Potential
    4.3%
    Office buildings
    Location Intelligence
    Property ID
    US63-0773466
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Psychiatrist NYC / Crisis Center / Medical Clinic
    • dr harris stratyner ph d / Physician / Medical Clinic
    • Lan2net LLC / Corporate Office
    • Complete Bed Bug Exterminating NYC / Garden Center

    Property Details for 244 58th St

    Year built
    1904
    Lot size
    0.05 lot acres
    Property size
    11,000 SF
    Zone code
    R8B
    Property type
    Office buildings
    APN
    01331-0029
    APU
    13310029

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,625,000
      ML approach
      $8,030,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,125,000
      6.5%
      $5,650,000
      7%
      $5,250,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,865,000
      Current use
      WAREHOUSE, STORAGE
      $8,990,000
      Change: +85% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $8,515,000
      Change: +75% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $5,950,000
      Change: +22% Conversion: Easy

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9654
    Latitude
    40.76
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $0.00
    $450,000
    $831,420
    $1,281,420
    -
    $1,000,000
    $1,666,000
    $2,666,000

    Comparable in this City

    • Value Estimation by Request
      360,000 SF

      41 51st St

      OFFICE BUILDING (MULTI-STORY) • 360,000 SF
      41 51st St, New York, NY 10022
      View Details
    • Value Estimation
      $1,375,000
      6,770 SF

      241 51st St

      OFFICE BUILDING (MULTI-STORY) • 6,770 SF
      241 51st St, New York, NY 10022-6502
      View Details
    • Value Estimation
      $9,700,000
      1,064,223 SF

      57-63 52nd St

      OFFICE BUILDING (MULTI-STORY) • 1,064,223 SF
      57-63 52nd St, New York, NY 10022
      View Details
    • Value Estimation
      $1,465,000
      6,775 SF

      119 54th St

      OFFICE BUILDING (MULTI-STORY) • 6,775 SF
      119 54th St, New York, NY 10022-4500
      View Details
    • Value Estimation
      $2,325,000
      9,630 SF

      16 55th St

      OFFICE BUILDING (MULTI-STORY) • 9,630 SF
      16 55th St, New York, NY 10022-3103
      View Details
    • Value Estimation
      $3,990,000
      15,663 SF

      36 57th St

      OFFICE BUILDING (MULTI-STORY) • 15,663 SF
      36 57th St, New York, NY 10022-2500
      View Details

    Similar Nearby for Sale

    • $40,000,000
      34,436 SF

      Midtown Luxury Commercial Condo Building

      35,000 SF Midtown building ideal for various uses.
      60 E 55Th St, New York, NY 10022
      View Details
    • $4,500,000
      1,791 SF

      Olympic Tower Mixed-Use Condominium

      Luxury mixed-use condominium with residential and commercial space.
      641-645 5Th Ave, New York, NY 10022
      View Details
    • Contact for pricing

      Fifth Avenue Office Building

      Office building for sale on Fifth Avenue in New York.
      623 5Th Ave, New York, NY 10022
      View Details
    • $875,000

      Renovated Medical Suite in Lenox Hill

      Move-in ready medical suite in prime Lenox Hill location.
      121 E 60Th St, New York, NY 10022
      View Details
    • $1,699,000
      3,267 SF

      Prime Midtown East Medical Office

      Luxury 3,267 SF Medical Office for Sale
      400 56Th St, New York, NY 10022
      View Details
    • Contact for pricing
      5,021 SF

      Midtown East Office Space

      Office space in prime Midtown East location.
      226 E 54Th St, New York, NY 10022
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      36-Story Office Building Available

      36-story office building with 515,200 rentable square feet.
      900 3Rd Ave, New York, NY 10022
      View Details
    • Contact for pricing

      Midtown Office Building For Rent

      22-story office building in Midtown with 175,171 square feet.
      505 Park Ave, New York, NY 10022
      View Details
    • Contact for pricing

      Madison Avenue Office Space Available

      26-story office building with 196,446 rentable square feet.
      527 Madison Ave, New York, NY 10022
      View Details
    • Contact for pricing

      32-Story Office Building in New York

      388,581 SF office building in New York, built in 1961.
      555 Madison Ave, New York, NY 10022
      View Details
    • $95 SF/Yr
      7,050 SF

      Madison Avenue Office Space Available

      39-story office building with 258,511 square feet for rent.
      540 Madison Ave, New York, NY 10022
      View Details
    • Contact for pricing
      597,553 SF

      Prestigious Midtown Manhattan Office Space

      Prime Midtown East location with stunning views and abundant light.
      805 3Rd Ave, New York, NY 10022
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    244 58th St
    New York, NY 10022-2001
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.