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Property profile & analytics
OFF-MARKET
Estimated value
$7,925,000
Residential income homes
2440 Steinway St Long Island City, NY 11103-3612
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-1248966
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
2018
Total area
14,236 SF
Lot
0.11 ac (4,750 SF)
Zoning code
C4-2A
APN
00654-0059
UPID
US63-1248966
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
-
Meloni Antonio Immigration & Naturalization Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.64M
CAP Approach
CAP
$5.36M
Comparable Approach
Comparable
$5.33M
Blend (final)
Blend
$7.93M
Owner & transaction history
Gbv Steinway Realty LLC · 3 yrs held
Gbv Steinway Realty LLC
since 2023
Last sale
$10.7M
4 recorded transactions
Zoning & alternative use
C4-2A · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$9.8M
+123.9%
Retail stores
$8.4M
+91.9%
Commercial (general)
$5.8M
+32.7%
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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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
$7,880,000
ML approach
$7,635,000
CAP Approach
CAP Return
Estimation
6%
$5,800,000
6.5%
$5,355,000
7%
$4,970,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$9,750,000
Change: +124% · Conversion: Difficult
RETAIL STORES
$8,360,000
Change: +92% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,780,000
Change: +33% · Conversion: Moderate
OFFICE BUILDING
$5,145,000
Change: +18% · Conversion: Moderate
Blend value · Realmo final
$7.93M
Range $7.13M – $8.72M · ±10% · vs last sale $10.67M (Mar 15 2023)
Last sale anchor
$10.67M
Mar 15 2023
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
$557 / 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
$162,223
Tax year 2024
Assessed value
$1,653,300
Assessed 2024
Previous assessed
$1,420,503
+16.4% YoY
Effective rate
9.81%
On assessed value
Assessed land
$192,600
Assessed improvement
$1,460,700
Land market value
$428,000
Improvement market value
$3,246,000
Total market value
$3,674,000
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
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
2018
Heating
NONE
Buildings
1
Stories
6
Units
1
Total area
14,236 SF
Lot
0.11 ac (4,750 SF)
Zoning code
C4-2A
APN
00654-0059
UPID
US63-1248966
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-2A · Long Island City, NY
Zoning C4-2A · permitted uses
C4-2A · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$9.8M
RETAIL STORES
Est. value
$8.4M
COMMERCIAL (GENERAL)
Est. value
$5.8M
OFFICE BUILDING
Est. value
$5.1M
AUTO REPAIR, GARAGE
RETAIL STORES
COMMERCIAL (GENERAL)
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Heating
NONE
Stories
6
Buildings
1
Units
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Gbv Steinway Realty LLC
Entity
Mailing address
2438 STEINWAY ST, LONG ISLAND CITY, NY 11103-3612
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2023
$10,671,937
Gbv Steinway Realty LLC
Prince Club LLC
Deed
$5,380,000 · Prince Club LLC
May 25, 2022
—
Prince Club LLC
—
Deed
related
$3,886,375 · Amerasia Bank
Jun 11, 2015
$2,720,000
Prince Club LLC
Giochina Infantino
Deed
$1,050,000 · Amerasia Bank
Jan 4, 2011
—
Giochina Infantino
Infantino,antoinette
Quit Claim Deed
related
—
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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