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Property profile & analytics
OFF-MARKET
Estimated value
$49,165,000
Banks
250 39th St 256 New York, NY 10018-4414
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US63-3235324
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1926
Total area
181,921 SF
Lot
0.28 ac (12,146 SF)
Zoning code
M1-6
APN
00788-0073
UPID
US63-3235324
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
-
Wallace E. J. Collins III, Esq. Law Firm
-
Lincoln Property Co Real Estate Agency
-
Pegasus Maritime Inc Logistics Company
-
Smitten Clothing & Fashion Store
-
Global Sole Group Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$49.17M
Owner & transaction history
250 West 39th Street INC · 10 yrs held
250 West 39th Street INC
since 2015
7 recorded transactions
Zoning & alternative use
M1-6 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$81,130,000
Current use
Blend value · Realmo final
$49.17M
Range $44.25M – $54.08M · ±10%
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
$270 / 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
$1,885,588
Tax year 2024
Assessed value
$17,901,450
Assessed 2024
Previous assessed
$18,007,740
-0.6% YoY
Effective rate
10.53%
On assessed value
Assessed land
$1,426,500
Assessed improvement
$16,474,950
Land market value
$3,170,000
Improvement market value
$36,390,000
Total market value
$39,560,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1926
Heating
NONE
Buildings
1
Stories
17
Units
45
Total area
181,921 SF
Lot
0.28 ac (12,146 SF)
Zoning code
M1-6
APN
00788-0073
UPID
US63-3235324
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-6 · New York, NYZoning M1-6 · permitted uses
M1-6 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$81.1M
FINANCIAL BUILDING Current
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
1926
Heating
NONE
Stories
17
Buildings
1
Units
45
Lot
0.28 ac
Current owner
From public records · entity-resolved
250 West 39th Street INC
Entity
Mailing address
250 W 39TH ST, NEW YORK, NY 10018-4414
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2015
$123,500,000
250 West 39th Street INC
Trust 39th St Land Corp
Grant Deed
—
Jul 3, 2007
—
Tr 39th St Land Corp
—
Deed Of Trust
related
$31,050,000 · Allstate Tfi
May 8, 2007
$93,500,000
Tr 39th St Land Corp
39th Street Fashion Center LLC
Deed
—
Oct 28, 2005
$9,795,240
39th Street Fashion Center LLC
250 West 39th Street LLC
Grant Deed
$3,050,000 · Connecticut Mutual Life Ins
—
—
Trust 39th St Land Corp
—
Deed Of Trust
related
$48,000,000 · Suntrust Bk
—
—
250 West 39th Street INC
—
Loan Modification
related
$48,000,000 · Private Individual
—
—
250 West 39th Street LLC
—
Deed Of Trust
related
$4,000,000 · North Fork Bank
—
—
250 West 39th Street LLC
—
Deed Of Trust
related
$5,800,000 · North Fork 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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