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Property profile & analytics
OFF-MARKET
Estimated value
$18,505,000
Office buildings
314 40th St 324 New York, NY 10018-1404
Entity Owned
25-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-2961498
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1947
Total area
68,060 SF
Lot
0.34 ac (14,812 SF)
Zoning code
C6-4
APN
00763-0049
UPID
US63-2961498
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
-
New York State Department of Corrections and Community Supervision State Government Office
-
Innovators Construction (Professional Builders, Renovations, and Remodeling) Construction Company
-
Our hotel Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.51M
Owner & transaction history
Gould 40th Street LLC · 25 yrs held
Gould 40th Street LLC
since 2001
6 recorded transactions
Zoning & alternative use
C6-4 · New York, 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 New York submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs New York 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$272 / 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
$623,083
Tax year 2024
Assessed value
$5,882,580
Assessed 2024
Previous assessed
$6,003,900
-2.0% YoY
Effective rate
10.59%
On assessed value
Assessed land
$2,916,000
Assessed improvement
$2,966,580
Land market value
$6,480,000
Improvement market value
$6,761,000
Total market value
$13,241,000
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
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1947
Heating
NONE
Buildings
1
Stories
5
Units
1
Total area
68,060 SF
Lot
0.34 ac (14,812 SF)
Zoning code
C6-4
APN
00763-0049
UPID
US63-2961498
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-4 · New York, NY
Zoning C6-4 · permitted uses
C6-4 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New York. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1947
Heating
NONE
Stories
5
Buildings
1
Units
1
Lot
0.34 ac
Current owner
From public records · entity-resolved
Gould 40th Street LLC
Entity
Mailing address
60 CUTTERMILL RD STE #303, GREAT NECK, NY 11021-3104
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 21, 2011
—
Gould 40th Street LLC
—
Deed Of Trust
related
$19,000,000 · American General Life Ins
Feb 6, 2007
—
Times Square W LLC
—
Deed Of Trust
related
$35,000,000 · Shanghai Commercial Bank Ltd
Nov 13, 2006
—
Gould 40th Street LLC
—
Deed Of Trust
related
$20,000,000 · Ge Com'l Finance Business Prop
Feb 13, 2001
—
Gould 40th Street LLC
Gould Investors LP
Quit Claim Deed
related
$11,800,000 · General Electric Capital Busin
—
—
Gould 40th Street LLC
—
Deed Of Trust
related
$9,907,163 · Ge Com'l Finance Business Prop
—
—
Gould 40th Street LLC
—
Deed Of Trust
related
$814,794 · American General Life Ins
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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