Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    319 48th St, Unit 335 New York, NY 10036-1331

    • Hotels
    • 186,954 SF
    • 0.49 lot acres
    OFF-MARKET
    Value Estimations
    $2,885,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-3841354
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Piccolo Gift Shop Inc / Gift Shop
    • Allen Carr's Easyway to Stop Smoking - New York / Health Consultant / Addiction Treatment Center
    • Dr. Mia M. Janelle, DDS / Chiropractor
    • Smooth Jazz CD 101.9 / Radio Broadcaster
    • Belvedere Hotel / Hotel

    Property Details for 319 48th St

    Year built
    1961
    Lot size
    0.49 lot acres
    Property size
    186,954 SF
    Zone code
    R8
    Property type
    Hotels
    APN
    01039-0017
    APU
    10390017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9879
    Latitude
    40.7617
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $2,651,081
    $12,465,000
    $12,564,090
    $25,029,090
    -
    $27,700,000
    $33,349,000
    $61,049,000

    Comparable in this City

    • Value Estimation by Request
      73,651 SF

      305 48th St

      HOTEL • 73,651 SF
      305 48th St, New York, NY 10036-1348
      View Details
    • Value Estimation by Request
      450,000 SF

      306 44th St

      HOTEL • 450,000 SF
      306 44th St, New York, NY 10036-5419
      View Details
    • Value Estimation
      $3,575,000
      46,492 SF

      12-14 44th St

      HOTEL • 46,492 SF
      12-14 44th St, New York, NY 10036
      View Details
    • Value Estimation
      $1,310,000
      115,355 SF

      123 44th St, Unit 131

      HOTEL • 115,355 SF
      123 44th St, New York, NY 10036-4089
      View Details
    • Value Estimation
      $3,315,000
      42,831 SF

      317 45th St

      HOTEL • 42,831 SF
      317 45th St, New York, NY 10036-3803
      View Details
    • Value Estimation
      $4,205,000
      243,738 SF

      1466 Broadwayhotel

      HOTEL • 243,738 SF
      1466 Broadwayhotel, New York, NY 10036-7309
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      400,000 SF

      Manhattan Hotel Portfolio: Prime Location

      Luxury Hotel Investment Opportunity
      0 5Th Ave, New York, NY 10036
      View Details
    • $42,600,000
      35,000 SF

      Unique Midtown West Office Building

      New 35,000 SF office building in Midtown West.
      639-643 11Th Ave, New York, NY 10036
      View Details
    • $2,500,000

      Commercial Land for Sale

      Commercial land available for sale.
      50 W 47 St#1608, New York, NY 10036
      View Details
    • $695,000

      Residential Income Property For Sale

      Residential income property available for purchase.
      323 W 43Rd St, New York, NY 10036
      View Details
    • $280,000

      Turnkey Restaurant Space For Sale

      Ready-to-go restaurant in a vibrant commercial setting.
      48Th St, New York, NY 10036
      View Details
    • $595,000

      West 45th Street Apartment

      Apartment located on West 45th Street in New York.
      325 W 45Th St, New York, NY 10036
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,938 SF

      Midtown West Retail Space For Lease

      Prime NYC Retail, 1938 sq ft, High Traffic
      566 10Th Ave, New York, NY 10036
      View Details
    • $90 SF/Yr
      1,000 SF

      Hell's Kitchen Retail Space For Lease

      Prime 1,000 SF Retail Space in NYC
      442 45Th St, New York, NY 10036
      View Details
    • Contact for pricing
      3,438 SF

      Fully Built-Out Office Space

      Co-working space with excellent visibility on East 42nd Street.
      145-147 E 42Nd St, New York, NY 10036
      View Details
    • Contact for pricing
      6,570 SF

      Times Square Retail Space Available

      Multi-level retail space in Times Square, perfect for entertainment.
      1568 Broadway, New York, NY 10036
      View Details
    • $51 SF/Yr
      313 SF

      Diamond District Office Space

      Office space for rent in the Diamond District.
      37 W 47Th St, New York, NY 10036
      View Details
    • Contact for pricing
      40,240 SF

      Office Space Ready for Installation

      Demolished office floors available for tenant build-out.
      1166 Avenue Of The Americas, New York, NY 10036
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    319 48th St, Unit 335
    New York, NY 10036-1331
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.