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Property profile & analytics
OFF-MARKET
Estimated value
$1,700,000
Apartment buildings
2605 24th Ave Long Island City, NY 11102-2389
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-2681866
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1931
Total area
5,280 SF
Lot
0.06 ac (2,558 SF)
Zoning code
R5D
APN
00854-0003
UPID
US63-2681866
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
$1.70M
CAP Approach
CAP
$1.99M
Comparable Approach
Comparable
$1.96M
Blend (final)
Blend
$1.70M
Owner & transaction history
26-05 24th Ave LLC · 1 yrs held
26-05 24th Ave LLC
since 2024
Last sale
$1.7M
5 recorded transactions
Zoning & alternative use
R5D · Long Island City, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+41.0%
Office building
$1.9M
+35.9%
Industrial (general)
$1.8M
+25.2%
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
$1,700,000
ML approach
$1,700,000
CAP Approach
CAP Return
Estimation
6%
$2,150,000
6.5%
$1,985,000
7%
$1,845,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,405,000
Current use
COMMERCIAL (GENERAL)
$1,980,000
Change: +41% · Conversion: Moderate
OFFICE BUILDING
$1,910,000
Change: +36% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$1,760,000
Change: +25% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,625,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.70M
Range $1.53M – $1.87M · ±10% · vs last sale $1.70M (Dec 6 2024)
Last sale anchor
$1.70M
Dec 6 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
$322 / 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
$27,197
Tax year 2024
Assessed value
$745,740
Assessed 2024
Previous assessed
$201,479
+270.1% YoY
Effective rate
3.65%
On assessed value
Assessed land
$9,900
Assessed improvement
$735,840
Land market value
$22,000
Improvement market value
$1,635,200
Total market value
$1,657,200
Applied tax rate
2.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
3
Units
6
Total area
5,280 SF
Lot
0.06 ac (2,558 SF)
Zoning code
R5D
APN
00854-0003
UPID
US63-2681866
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R5D · Long Island City, NYZoning R5D · permitted uses
R5D · Long Island City, 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.4M
COMMERCIAL (GENERAL)
Est. value
$2.0M
OFFICE BUILDING
Est. value
$1.9M
INDUSTRIAL (GENERAL)
Est. value
$1.8M
WAREHOUSE, STORAGE
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1931
Heating
NONE
Stories
3
Buildings
1
Units
6
Lot
0.06 ac
Current owner
From public records · entity-resolved
26-05 24th Ave LLC
Entity
Free & Clear · 1 yrs held
Mailing address
7521 21ST AVE, EAST ELMHURST, NY 11370-1122
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2024
$1,700,000
26-05 24th Ave LLC
Charles Sciberras 2018 Revocable Tr
Deed
—
Jan 10, 2024
—
Charles Sciberras 2018 Revocable Tr
Charles Sciberras
Correction Deed
related
—
Aug 6, 2018
—
Sciberras,charles 2018 Trust
Sciberras,charles
Quit Claim Deed
—
Aug 24, 2005
—
Charles Sciberras
Sciberras,charles
Quit Claim Deed
related
—
Mar 27, 1998
$280,000
Charles Sciberras
Sideris,sophie
Grant Deed
$220,000 · Seller
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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