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Property profile & analytics
OFF-MARKET
Estimated value
$20,080,000
Residential income homes
318 51st St 328 New York, NY 10019-6402
Entity Owned
10-yr Hold
Free & Clear
Property ID
US63-3386545
Property profile
Verified
Property type
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Year built
1940
Total area
54,568 SF
Lot
0.28 ac (12,150 SF)
Zoning code
R8
APN
01041-0044
UPID
US63-3386545
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
-
Dr. kirsteen M. salacia, DDS Dental Office
-
Washington Jefferson Hotel Hotel & Motel
-
Jane Rotrosen Agency Publishing House Printing Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$26.27M
Comparable Approach
Comparable
$12.11M
Blend (final)
Blend
$20.08M
Owner & transaction history
Washington Jefferson Holdings · 10 yrs held
Washington Jefferson Holdings
since 2015
5 recorded transactions
Zoning & alternative use
R8 · 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
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$28,455,000
6.5%
$26,265,000
7%
$24,390,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$29,525,000
Current use
Blend value · Realmo final
$20.08M
Range $18.07M – $22.09M · ±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
$368 / 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
$835,278
Tax year 2024
Assessed value
$7,885,930
Assessed 2024
Previous assessed
$7,815,150
+0.9% YoY
Effective rate
10.59%
On assessed value
Assessed land
$4,068,000
Assessed improvement
$3,817,930
Land market value
$9,040,000
Improvement market value
$9,876,000
Total market value
$18,916,000
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
Residential income homes
Use group
BOARDING/ROOMING HOUSE
Status
Off-Market
Year built
1940
Heating
NONE
Buildings
2
Stories
6
Units
1
Total area
54,568 SF
Lot
0.28 ac (12,150 SF)
Zoning code
R8
APN
01041-0044
UPID
US63-3386545
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8 · New York, NYZoning R8 · permitted uses
R8 · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$29.5M
APARTMENT HOUSE (5+ UNITS) 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
1940
Heating
NONE
Stories
6
Buildings
2
Units
1
Lot
0.28 ac
Current owner
From public records · entity-resolved
Washington Jefferson Holdings
Entity
Free & Clear · 10 yrs held
Mailing address
1633 BROADWAY FL #46, NEW YORK, NY 10019-7846
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2015
$12,300,000
Washington Jefferson Holdings
Piscopo Washington Jefferson L
Grant Deed
—
Oct 18, 2014
$11,437,750
Washington Jefferson Holdings LLC
Washington & Jefferson Hotel Owners
Deed
$17,000,000 · Investors Bank & Trust Co
Jul 9, 2013
—
Washington & Jefferson Hotel O
Piscopo,rita
Grant Deed
—
Dec 10, 2012
—
Washington Jefferson L Piscopo
Rodgers,irene P
Grant Deed
—
—
—
Washington Jefferson Hotel LLC
—
Deed Of Trust
related
$3,000,000 · Investors Bk
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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