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Property profile & analytics
OFF-MARKET
Estimated value
$160,020,000
Hotels
255 34th St, New York, NY 10001-2803
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-0853220
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
2021
Total area
157,517 SF
Lot
0.18 ac (7,883 SF)
Zoning code
C64M
APN
00784-0012
UPID
US63-0853220
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
-
Burger King Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$208.16M
Blend (final)
Blend
$160.02M
Owner & transaction history
Penn District Hotel LLC · 2 yrs held
Penn District Hotel LLC
since 2024
Last sale
$1,000
7 recorded transactions
Zoning & alternative use
C64M · 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
Blend value · Realmo final
$160.02M
Range $144.02M – $176.02M · ±10% · vs last sale $1k (May 9 2024)
Last sale anchor
$1k
May 9 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
$1,016 / 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
$1,552,273
Tax year 2024
Assessed value
$14,694,030
Assessed 2024
Previous assessed
$10,560,780
+39.1% YoY
Effective rate
10.56%
On assessed value
Assessed land
$3,728,430
Assessed improvement
$10,965,600
Land market value
$8,199,000
Improvement market value
$24,368,000
Total market value
$32,567,000
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
2021
Heating
NONE
Buildings
1
Stories
32
Units
330
Total area
157,517 SF
Lot
0.18 ac (7,883 SF)
Zoning code
C64M
APN
00784-0012
UPID
US63-0853220
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C64M · New York, NY
Zoning C64M · permitted uses
C64M · 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
2021
Heating
NONE
Stories
32
Buildings
1
Units
330
Lot
0.18 ac
Current owner
From public records · entity-resolved
Penn District Hotel LLC
Entity
Mailing address
100 PARK AVE RM #2805, NEW YORK, NY 10017-5536
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2025
—
Penn District Hotel LLC
—
Deed
related
$82,717,200 · Rdf Agent, LLC
May 9, 2024
$1,000
Penn District Hotel LLC
Referee Clark Whitsett Esq.
Deed
—
Mar 2, 2023
$104,536,934
Penn Hotel Junior LLC
Jcmc West 34 Mezz II LLC
Deed
—
Feb 10, 2020
—
Jcmc West 34 Owner LLC
—
Deed
related
$71,017,817 · Arbor Realty SR
Sep 22, 2017
—
Jcmc West 34 Owner LLC
—
Grant Deed
related
$64,170,768 · Bank Of The Ozarks
Jan 3, 2017
—
Jcmc West 34 Owner LLC
Cornell West 34 Owner LLC
Quit Claim Deed
—
Jan 15, 2016
$20,000,000
Jcmc West 34 Owner LLC
Jcmc 255 LLC
Grant Deed
—
Sep 23, 2014
$20,000,000
Cornell 255 LLC
255 West 34th Street LLC
Grant Deed
—
Jul 14, 2005
—
255 West 34th Street LLC
Maleh,david & Max Maleh
Grant Deed
related
$324,000 · Independence Community Bank
—
—
Jcmc West 34 Owner LLC
—
Loan Modification, Consolidation And Extension
related
$40,000,000 · * Other Institutional Lenders
—
—
Jcmc West 34 Owner LLC
—
Loan Modification
related
$31,017,817 · Arbor Jpm Fndg LLC
—
—
Jcmc West 34 Owner LLC
—
Loan Modification
related
$71,017,817 · Arbor Realty SR
—
—
255 West 34th Street LLC
—
Deed Of Trust
related
$4,426 · Max & Isaac Maleh
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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