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Property profile & analytics
OFF-MARKET
Estimated value
$7,740,000
Banks
256-260 38th St, New York, NY 10018
Entity Owned
Free & Clear
Property ID
US63-1811775
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1924
Total area
96,736 SF
Lot
0.17 ac (7,357 SF)
Zoning code
M1-6
APN
00787-0072
UPID
US63-1811775
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.24M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.74M
Owner & transaction history
West 38 Property LLC
West 38 Property LLC
since 2025
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
$8,235,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$7.74M
Range $6.97M – $8.51M · ±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
$80 / 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
$893,746
Tax year 2024
Assessed value
$8,437,932
Assessed 2024
Previous assessed
$8,260,865
+2.1% YoY
Effective rate
10.59%
On assessed value
Assessed land
$868,500
Assessed improvement
$7,569,432
Land market value
$1,930,000
Improvement market value
$18,862,000
Total market value
$20,792,000
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
1924
Heating
NONE
Buildings
1
Stories
14
Units
18
Total area
96,736 SF
Lot
0.17 ac (7,357 SF)
Zoning code
M1-6
APN
00787-0072
UPID
US63-1811775
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-6 · New York, NY
Zoning 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
New York. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1924
Heating
NONE
Stories
14
Buildings
1
Units
18
Lot
0.17 ac
Current owner
From public records · entity-resolved
West 38 Property LLC
Entity
Free & Clear · 0 yrs held
Mailing address
280 PARK AVE FL #36, NEW YORK, NY 10017-1285
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 28, 2025
—
West 38 Property LLC
Ca 38th Street Holdings LLC
Deed
—
Aug 28, 2025
—
West 38 Holdings LLC
Ca 38th Street Holdings LLC
Deed
—
Jun 3, 2025
$21,500,000
Ca 38th Street Holdings LLC
West 38 Ll, LLC
Deed
—
Sep 18, 2019
—
West 36 Ll LLC
—
Loan Modification
related
$95,000,000 · Canadian Imperial Bk/commerc
Nov 13, 2017
$63,300,000
West 38 Ll LLC
Arc Ny25638001 LLC
Grant Deed
$13,775,000 · Miscellaneous Ins Co
Nov 13, 2017
—
West 38 Ll LLC
—
Loan Modification, Consolidation And Extension
related
$92,000,000 · Miscellaneous Ins Co
Jan 10, 2013
$48,600,000
Arc Ny25638001 LLC
Eego West 38 Fee LLC
Grant Deed
$2,407,066 · Capital One
Jul 7, 2011
—
Chanukka 26 LLC
Chanukka 26 LLC
Quit Claim Deed
related
$23,000,000 · Arbor Realty Mtg Secs Series
Jul 7, 2011
$30,000,000
Eego West 38 Fee LLC
Chanukka 26 LLC
Grant Deed
$837,018 · Arbor Realty Mtg Secs #2006-1
Mar 12, 2007
$22,300,000
Chanukka 26 LLC
Amy Scholhof, Markan Oil Corp
Deed
$24,200,000 · Arbor Realty Funding LLC
—
—
Arc Ny25638001 LLC
—
Deed Of Trust
related
$24,500,000 · Capital One
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.
Try Rey
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