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Property profile & analytics
OFF-MARKET
Estimated value
$37,620,000
Apartment buildings
280 161st St Bronx, NY 10451-3521
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-1002864
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1980
Total area
239,712 SF
Lot
1.55 ac (67,387 SF)
Zoning code
R8
APN
02420-0120
UPID
US63-1002864
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
-
Castillo Photo and Video Film Production Television Studio
-
Dr. Hirunisha Najjar Physician
-
Dr. Audrey Weissman Physician Medical Clinic
-
3rd Leaf Clover Consulting,LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$35.99M
Blend (final)
Blend
$37.62M
Owner & transaction history
Morrisania Apartments LLC · 1 yrs held
Morrisania Apartments LLC
since 2024
Last sale
$40.8M
7 recorded transactions
Zoning & alternative use
R8 · Bronx, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$62.6M
+80.3%
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 Bronx submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Bronx 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
$32,955,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$34,740,000
Current use
COMMERCIAL (GENERAL)
$62,625,000
Change: +80% · Conversion: Moderate
Blend value · Realmo final
$37.62M
Range $33.86M – $41.38M · ±10% · vs last sale $40.76M (Dec 27 2022)
Last sale anchor
$40.76M
Dec 27 2022
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
$157 / 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
Assessed value
$6,531,660
Assessed 2024
Previous assessed
$6,851,250
-4.7% YoY
Assessed land
$279,450
Assessed improvement
$6,252,210
Land market value
$621,000
Improvement market value
$14,884,000
Total market value
$15,505,000
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
1980
Heating
NONE
Buildings
1
Stories
8
Units
204
Total area
239,712 SF
Lot
1.55 ac (67,387 SF)
Zoning code
R8
APN
02420-0120
UPID
US63-1002864
Jurisdiction
BRONX
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8 · Bronx, NY
Zoning R8 · permitted uses
R8 · Bronx, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Bronx. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$34.7M
COMMERCIAL (GENERAL)
Est. value
$62.6M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
1980
Heating
NONE
Stories
8
Buildings
1
Units
204
Lot
1.55 ac
Current owner
From public records · entity-resolved
Morrisania Apartments LLC
Entity
Mailing address
280 E 161ST ST, BRONX, NY 10451-3521
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 13, 2024
—
Morrisania Apartments LLC
Morrisania Development Housing Deve
Deed
$74,000,000 · Affordable Housing Credit Opportuni
Dec 27, 2022
$40,762,800
Morrisania Apartments Housing Devel
Spencer Equity Group LLC
Deed
$74,000,000 · Affordable Housing Credit Opportunities
Jan 4, 2021
—
Morrisania Apartments LLC
—
Deed
related
$11,240,616 · Berkadia Commercial Mortgage LLC
Dec 27, 2016
—
Morrisania Apartments LLC
—
Deed
related
$17,000,000 · Santander Bk NA
Apr 28, 2010
$14,959,098
Morrisania Apartments LLC
Morrisania Towers Hsng Co Ltd
Grant Deed
—
—
—
Morrisania Apartments LLC
—
Deed Of Trust
related
$17,200,000 · New York Community Bank
—
—
Morrisania Apartments LLC
—
Deed Of Trust
related
—
—
—
Morrisania Apartments LLC
—
Deed Of Trust
related
$14,297,942 · New York Community Bank
—
—
Morrisania Towers Hsng Co Ltd
—
Deed Of Trust
related
$481,456 · Hud
—
—
Morrisania Apartments LLC
—
Loan Modification, Consolidation And Extension
related
$17,000,000 · Santander Bk NA
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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