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Property profile & analytics
OFF-MARKET
Estimated value
$2,850,000
Office buildings
3109 Newtown Ave, Long Island City, NY 11102-1383
Entity Owned
3-yr Hold
Free & Clear
Property ID
US63-1730179
Property profile
Verified
Property type
Office buildings
Use group
PROFESSIONAL BUILDING
Year built
1995
Total area
13,000 SF
Lot
0.09 ac (4,030 SF)
Zoning code
C4-4A
APN
00619-0019
UPID
US63-1730179
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
-
Marnie Zigelman LCSW Psychotherapist
-
Medical Travel Agency Medical Group
-
Stephanie Bayner Physician
-
ADNAN ANWER QURESHI Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.09M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.85M
Owner & transaction history
Ambrosial II Realty LLC · 3 yrs held
Ambrosial II Realty LLC
since 2023
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
C4-4A · Long Island City, 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 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
$2,105,000
ML approach
$2,085,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,700,000
Current use
INDUSTRIAL (GENERAL)
$4,330,000
Change: -8% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,005,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$2.85M
Range $2.57M – $3.14M · ±10% · vs last sale $2.85M (Feb 6 2023)
Last sale anchor
$2.85M
Feb 6 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
$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
$93,116
Tax year 2024
Assessed value
$958,050
Assessed 2024
Previous assessed
$426,600
+124.6% YoY
Effective rate
9.72%
On assessed value
Assessed land
$135,900
Assessed improvement
$822,150
Land market value
$302,000
Improvement market value
$1,827,000
Total market value
$2,129,000
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
PROFESSIONAL BUILDING
Status
Off-Market
Year built
1995
Heating
NONE
Buildings
1
Stories
3
Units
3
Total area
13,000 SF
Lot
0.09 ac (4,030 SF)
Zoning code
C4-4A
APN
00619-0019
UPID
US63-1730179
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-4A · Long Island City, NY
Zoning C4-4A · permitted uses
C4-4A · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$4.7M
INDUSTRIAL (GENERAL)
Est. value
$4.3M
WAREHOUSE, STORAGE
Est. value
$4.0M
OFFICE BUILDING Current
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
1995
Heating
NONE
Stories
3
Buildings
1
Units
3
Lot
0.09 ac
Current owner
From public records · entity-resolved
Ambrosial II Realty LLC
Entity
Free & Clear · 3 yrs held
Mailing address
3119 NEWTOWN AVE, LONG ISLAND CITY, NY 11102-1391
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 9, 2024
—
The 3111town, LLC
—
Deed
related
$4,560,000 · Bankunited, N.a.
Feb 6, 2023
—
Ambrosial II Realty LLC
Ambrosial I Realty LLC
Deed
—
Feb 6, 2023
$2,850,000
The 3111town, LLC
Ambrosial II Realty, LLC
Deed
—
Dec 20, 2022
—
Ambrosial I Realty, LLC
Ambrosial I Realty, LLC
Deed
related
—
Mar 23, 2022
—
Ambrosial I Realty, LLC
Ambrosial I Realty, LLC
Deed
related
—
Mar 29, 2021
—
Ambrosial 1 Realty, INC.
Ambrosial Enterprises Of N.y. Corp.
Deed
—
Mar 10, 2021
—
Ambrosial 2 Realty, INC.
Ambrosial Enterprises Of N.y Corp.
Deed
—
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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