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Property profile & analytics
OFF-MARKET
Estimated value
$25,675,000
Investment properties
3052 21st St Brooklyn, NY 11224-2103
Trust Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-5692052
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1922
Total area
56,272 SF
Lot
0.58 ac (25,400 SF)
Zoning code
R7D
APN
07071-0130
UPID
US63-5692052
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
-
SummerStage, Ford Amphitheater Music Venue Bar & Pub
-
Coney Island Amphitheater Theater & Performing Art Venue Music Venue
-
Zula Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$31.43M
Comparable Approach
Comparable
$19.01M
Blend (final)
Blend
$25.68M
Owner & transaction history
Sfi Penn Properties Statutory Trust · 2 yrs held
Sfi Penn Properties Statutory Trust
since 2023
Last sale
$26.0M
7 recorded transactions
Zoning & alternative use
R7D · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$31.9M
+140.8%
Office building
$31.0M
+133.5%
Warehouse, storage
$28.2M
+112.6%
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
Method
Estimation
Statistic approach
$25,945,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$34,045,000
6.5%
$31,425,000
7%
$29,180,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$31,940,000
Change: +141% · Conversion: Moderate
OFFICE BUILDING
$30,975,000
Change: +134% · Conversion: Easy
WAREHOUSE, STORAGE
$28,200,000
Change: +113% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$15,940,000
Change: +20% · Conversion: Moderate
Blend value · Realmo final
$25.68M
Range $23.11M – $28.24M · ±10% · vs last sale $26.00M (Oct 19 2023)
Last sale anchor
$26.00M
Oct 19 2023
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
$456 / 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
$6,306,300
Assessed 2024
Previous assessed
$6,246,900
+1.0% YoY
Assessed land
$571,500
Assessed improvement
$5,734,800
Land market value
$1,270,000
Improvement market value
$12,744,000
Total market value
$14,014,000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
Off-Market
Year built
1922
Heating
NONE
Buildings
1
Stories
3
Units
3
Total area
56,272 SF
Lot
0.58 ac (25,400 SF)
Zoning code
R7D
APN
07071-0130
UPID
US63-5692052
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7D · Brooklyn, NY
Zoning R7D · permitted uses
R7D · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL)
Est. value
$31.9M
OFFICE BUILDING
Est. value
$31.0M
WAREHOUSE, STORAGE
Est. value
$28.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$15.9M
INDUSTRIAL (GENERAL)
OFFICE BUILDING
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1922
Heating
NONE
Stories
3
Buildings
1
Units
3
Lot
0.58 ac
Current owner
From public records · entity-resolved
Sfi Penn Properties Statutory Trust
Trust
Mailing address
1114 AVE OF THE AMERICASFL39, NEW YORK, NY 10036-7703
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2023
$26,000,000
Sfi Penn Properties Statutory Trust
Istar INC.
Deed
—
May 4, 2015
—
City Of New York
Coney Childs Lender LLC
Grant Deed
—
Jul 19, 2010
$2,004,103
Coney Childs Lender LLC
Referee Charles L Emma As
Deed
—
Oct 29, 2009
—
Cube Acquisitions LLC
3052 West 21st Street LLC
Grant Deed
—
Jun 15, 2007
—
Bath Site LLC
—
Deed Of Trust
related
$89,012,000 · Istar Financial INC
Apr 7, 2004
$1,820,000
3052 West 21st Street LLC
3052 Real Estate Corp
Grant Deed
related
$1,749,000 · 3052 Real Estate Corp
—
—
3052 West 21st Street LLC
—
Deed Of Trust
related
$7,000,000 · Coney Childs Lender LLC
—
—
Bath Site LLC
—
Deed Of Trust
related
—
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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