Add Listing
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 5th Ave New York, NY 10001-7604

    • Banks
    • 31,500 SF
    • 0.07 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1722762
    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

    • D&S Windows Inc / Hardware & Home Improvement / Interior Design
    • NY Plumbers Net / Plumbing Service / General Contractor
    • Marie Burgos Design & Collection / Furniture & Home Goods / Home Decor Store
    • Standard Technology Integration Corp. / Building Supply / Security Service
    • Beluga Labs / Marketing & Advertising / (Bike/Boat/Book/etc) Store

    Property Details for 244 5th Ave

    Year built
    1915
    Lot size
    0.07 lot acres
    Property size
    31,500 SF
    Zone code
    C5-2
    Property type
    Banks
    APN
    00829-0040
    APU
    8290040

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9877
    Latitude
    40.7446
    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
    $237,033
    $774,000
    $1,538,210
    $2,312,210
    -
    $1,720,000
    $3,253,000
    $4,973,000

    Comparable in this City

    • Value Estimation
      $17,280,000
      218,019 SF

      518-534 26th St

      FINANCIAL BUILDING • 218,019 SF
      518-534 26th St, New York, NY 10001
      View Details
    • Value Estimation
      $11,315,000
      146,416 SF

      526 26th St Rm, Unit 516

      FINANCIAL BUILDING • 146,416 SF
      526 26th St Rm, New York, NY 10001-5522
      View Details
    • Value Estimation by Request
      41,579 SF

      147-149 25th St

      FINANCIAL BUILDING • 41,579 SF
      147-149 25th St, New York, NY 10001
      View Details
    • Value Estimation by Request
      44,748 SF

      164-166 25th St

      FINANCIAL BUILDING • 44,748 SF
      164-166 25th St, New York, NY 10001
      View Details
    • Value Estimation
      $24,810,000
      221,227 SF

      119-123 31st St

      FINANCIAL BUILDING • 221,227 SF
      119-123 31st St, New York, NY 10001
      View Details
    • Value Estimation
      $9,785,000
      133,948 SF

      248252 35th St

      FINANCIAL BUILDING • 133,948 SF
      248252 35th St, New York, NY 10001-2514
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,500 SF

      Chelsea Retail/Restaurant Opportunity

      Prime retail/restaurant space near FIT and Penn Station.
      144 W 27Th St, New York, NY 10001
      View Details
    • $50,000
      150 SF

      Lol's

      tore
      123 Main St, New York, NY 10001
      View Details
    • Contact for pricing
      2,000 SF

      Manhattan Restaurant Franchise with Expansion Rights

      Prime Manhattan restaurant franchise opportunity with exclusive expansion rights.
      295 7Th Ave, Manhattan, NY 10001
      View Details
    • Contact for pricing
      9,500 SF

      Prime Retail Condo Near FIT

      Retail condo with high visibility in bustling commercial area.
      144 W 27Th St, New York, NY 10001
      View Details
    • Contact for pricing
      10,595 SF

      NoMad Office Building For Sale

      Five-story commercial office building in NoMad, delivered vacant.
      3 W 30Th St, New York, NY 10001
      View Details
    • Contact for pricing
      17,138 SF

      Midtown Manhattan Retail Building

      Six-story, 17,138 SF retail building in Midtown Manhattan.
      11 W 34Th St, New York, NY 10001
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      26,454 SF

      Prime Retail Space Available

      80,000 SF retail space near Moynihan Station.
      420 9Th Ave, New York, NY 10001
      View Details
    • Contact for pricing
      1,000 SF

      Retail Space for Lease

      Retail space available for lease in New York, NY.
      823 Avenue Of The Americas, New York, NY 10001
      View Details
    • Contact for pricing
      300 SF

      Retail Space in High-Traffic Area

      Retail space for rent with high ceilings and heavy foot traffic.
      164 W 25Th St, New York, NY 10001
      View Details
    • Contact for pricing
      357 SF

      Retail Space Near Hudson Yards

      Retail space available across from The Spiral and Hudson Yards.
      440-442 10Th Ave, New York, NY 10001
      View Details
    • Contact for pricing
      14,711 SF

      Prime Retail Space Near Penn

      Retail space near Penn Station and Madison Square Garden.
      11 Penn Plz, New York, NY 10001
      View Details
    • Contact for pricing
      3,076 SF

      Prime Retail Space on Seventh

      Retail space available on high foot traffic Seventh Avenue.
      500-512 7Th Ave, New York, NY 10001
      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 5th Ave
    New York, NY 10001-7604
    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.
    Sign Up Successful!
    You now have access to more from Realmo!