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Property profile & analytics
OFF-MARKET
Estimated value
$2,385,000
Office buildings
2588-2590 Atlantic Ave Brooklyn, NY 11207
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-5131172
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1891
Total area
10,885 SF
Lot
0.09 ac (3,955 SF)
Zoning code
M3-2
APN
03684-0025
UPID
US63-5131172
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.39M
Owner & transaction history
2588 Atlantic LLC · 3 yrs held
2588 Atlantic LLC
since 2022
7 recorded transactions
Zoning & alternative use
M3-2 · Brooklyn, 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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$219 / 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
$32,888
Tax year 2024
Assessed value
$310,500
Assessed 2024
Previous assessed
$389,250
-20.2% YoY
Effective rate
10.59%
On assessed value
Assessed land
$80,100
Assessed improvement
$230,400
Land market value
$178,000
Improvement market value
$512,000
Total market value
$690,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1891
Heating
NONE
Buildings
1
Stories
3
Units
1
Total area
10,885 SF
Lot
0.09 ac (3,955 SF)
Zoning code
M3-2
APN
03684-0025
UPID
US63-5131172
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M3-2 · Brooklyn, NY
Zoning M3-2 · permitted uses
M3-2 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1891
Heating
NONE
Stories
3
Buildings
1
Units
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
2588 Atlantic LLC
Entity
Mailing address
2588 ATLANTIC AVE, BROOKLYN, NY 11207-2413
Ownership since
2022
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
Aug 25, 2022
—
2588 Atlantic LLC
2588 Atlantic LLC
Deed
related
—
Sep 3, 2015
$1,735,000
2588 Atlantic LLC
Brooklyn Consolidated Funding
Grant Deed
—
Jan 29, 2013
$975,000
Brooklyn Consolidated Funding LLC
Galit Network LLC
Deed
—
—
—
Brooklyn Consolidated Funding
—
Loan Modification, Consolidation And Extension
related
$1,450,000 · Rcfnj LLC
—
—
Brooklyn Consolidated Funding
—
Deed Of Trust
related
$350,000 · Rcfnj LLC
—
—
Brooklyn Consolidated Funding
—
Loan Modification
related
$1,450,000 · Rcfnj LLC
—
—
2588 Atlantic LLC
—
Deed Of Trust
related
$616,000 · Empire St Certified Dev
—
—
2588 Atlantic LLC
—
Deed Of Trust
related
$750,000 · Bank Of America
—
—
2588 Atlantic LLC
—
Deed Of Trust
related
$600,000 · Bank Of America
—
—
Brooklyn Consolidated Funding
—
Deed Of Trust
related
$1,100,000 · Rcfnj LLC
—
—
Galit Network LLC
—
Deed Of Trust
related
$2,272,500 · Northern Funding LLC
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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