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Property profile & analytics
OFF-MARKET
Estimated value
$890,000
Banks
31 Spencer St Brooklyn, NY 11205-5289
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-1201491
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2020
Total area
95,995 SF
Lot
0.23 ac (9,999 SF)
Zoning code
M1-2
APN
01716-0010
UPID
US63-1201491
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
-
Headway Services Daycare Center Foster Care Service
-
Silk bar Skin Care Clinic
-
Appel Markowitz LLP Law Firm
-
spencer lobby Grocery & Convenience Store
-
Joseph Neuwirth, CPA Accounting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$891k
Blend (final)
Blend
$890k
Owner & transaction history
31 Spencer Floor 16 LLC · 2 yrs held
31 Spencer Floor 16 LLC
since 2024
7 recorded transactions
Zoning & alternative use
M1-2 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$890,000
Current use
Blend value · Realmo final
$890k
Range $801k – $979k · ±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
$9 / 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
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
2020
Heating
NONE
Stories
15
Units
17
Total area
95,995 SF
Lot
0.23 ac (9,999 SF)
Zoning code
M1-2
APN
01716-0010
UPID
US63-1201491
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-2 · Brooklyn, NY
Zoning M1-2 · permitted uses
M1-2 · 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.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$890,000
FINANCIAL BUILDING Current
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
2020
Heating
NONE
Stories
15
Units
17
Lot
0.23 ac
Current owner
From public records · entity-resolved
31 Spencer Floor 16 LLC
Entity
Mailing address
3008 AVE J J, BROOKLYN, NY 11210-3838
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
25 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2025
—
31 Spencer Floor 12 LLC
—
Deed
related
$400,000 · Grasshopper Bank
Aug 29, 2025
—
Mf Spencer Holdings LLC
—
Deed
related
$35,000 · Rbac
Jul 1, 2025
—
Mm Spencer Holdings LLC
—
Deed
related
$39,334 · Rbac
Jun 26, 2025
—
31 Spencer Floor 5 LLC
—
Deed
related
$500,000 · Vernon Capital Funding LLC
Jun 5, 2025
—
Mf Spencer Holdings LLC
—
Deed
related
$1,060,581 · Finwise Bank
Dec 30, 2024
—
31 Spencer Tower LLC
—
Deed
related
$32,600 · Rbac
Mar 29, 2024
—
31 Spencer Floor 16 LLC
31 Spencer Street USA LLC
Deed
$2,000,000 · Levon Ny Cdxxii LLC
Mar 22, 2024
$12,958,781
Office 31 LLC
31 Spencer Street USA LLC
Deed
$6,400,000 · First Horizon Bank
Mar 22, 2024
—
Office 31 LLC
—
Deed
related
$3,000,000 · First Horizon Bank
Jan 30, 2024
—
31 Spencer Floor 5 LLC
31 Spencer Street USA LLC
Deed
$2,300,000 · Levon Ny Dcxx LLC
Jan 30, 2024
$3,253,162
31 Spencer 14 LLC
31 Spencer Street USA LLC
Deed
$1,700,000 · Levon Ny Dcxx LLC
Jan 29, 2024
—
31 Spencer Floor 11 LLC
31 Spencer Street USA LLC
Deed
$2,000,000 · Levon Ny Dcxx LLC
Jan 29, 2024
$3,416,000
31 Spencer Unit 7 LLC
31 Spencer Street USA LLC
Deed
$2,562,000 · Td Bank, NA
Jan 23, 2024
—
31 Spencer Floor 1 LLC
31 Spencer Street USA LLC
Deed
$5,500,000 · Levon Ny Dcxx LLC
Jan 23, 2024
$3,371,850
31 Spencer Tower LLC
31 Spencer Street USA LLC
Deed
$1,720,500 · Provident Bank
Jan 8, 2024
$2,090,000
Mf Spencer Holdings LLC
31 Spencer Street USA LLC
Deed
$295,000 · Truist Bank
Dec 14, 2023
$3,335,000
Human Care Services For Families &
31 Spencer Street USA LLC
Deed
—
Nov 28, 2023
—
31 Spencer Street USA LLC
—
Deed
related
$2,000,000 · Levon Ny Dcxx LLC
Jul 1, 2019
$10,500,000
31 Spencer Street USA LLC
31 Spencer Street LLC
Grant Deed
$5,500,000 · 31sp Holdings LLC
Jun 28, 2019
—
31 Spencer Street USA LLC
—
Loan Modification
related
$9,000,000 · 31sp Holdings LLC
Feb 27, 2017
—
31 Spencer Street LLC
Arkwin Home Products INC
Grant Deed
$3,500,000 · Houtex LLC
—
—
31 Spencer Street USA LLC
—
Loan Modification
related
$12,500,000 · Levon Ny Dcxx LLC
—
—
31 Spencer Street USA LLC
—
Deed Of Trust
related
$500,000 · Levon Ny Dcxx LLC
—
—
31 Spencer Street USA LLC
—
Deed Of Trust
related
$12,500,000 · Levon Ny Dcxx LLC
—
—
31 Spencer Street LLC
—
Deed Of Trust
related
$3,500,000 · Arnav Industries INC
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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