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Property profile & analytics
FOR LEASE
Manufacturing properties
32-35 48Th Ave Long Island City, NY 11101
Entity Owned
16-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-0831604
For Lease
1 / 2
$890,000
32-35 48Th Ave, Long Island City, NY 11101
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
HEAVY MANUFACTURING
Year built
1964
Total area
206,000 SF
Lot
1.42 ac (61,986 SF)
Zoning code
M1-4
APN
00252-0001
UPID
US63-0831604
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
-
Bella Blue Restaurant
-
Plants / flowers Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$890k
Owner & transaction history
Silnor 2 LP · 16 yrs held
Silnor 2 LP
since 2010
4 recorded transactions
Zoning & alternative use
M1-4 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$4 / 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
$855,226
Tax year 2024
Assessed value
$8,404,200
Assessed 2024
Previous assessed
$7,960,140
+5.6% YoY
Effective rate
10.18%
On assessed value
Assessed land
$2,092,500
Assessed improvement
$6,311,700
Land market value
$4,650,000
Improvement market value
$14,026,000
Total market value
$18,676,000
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
Manufacturing properties
Use group
HEAVY MANUFACTURING
Status
For Lease
Year built
1964
Heating
NONE
Buildings
1
Stories
4
Units
6
Total area
206,000 SF
Lot
1.42 ac (61,986 SF)
Zoning code
M1-4
APN
00252-0001
UPID
US63-0831604
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-4 · Long Island City, NY
Zoning M1-4 · permitted uses
M1-4 · 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.
Building & site characteristics
From public records
Year built
1964
Heating
NONE
Stories
4
Buildings
1
Units
6
Lot
1.42 ac
Current owner
From public records · entity-resolved
Silnor 2 LP
Entity
Mailing address
237 MAMARONECK AVE, WHITE PLAINS, NY 10605-1319
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2010
—
Silnor 2 LP
—
Deed Of Trust
related
$260,060,075 · Aviva Life & Annuity Co
—
—
Silnor 2 LP
—
Deed Of Trust
related
$12,000,000 · Aviva Life & Annuity Co
—
—
Silnor 2 LP
—
Loan Modification
related
$16,000,000 · Miscellaneous Ins Co
—
—
Silnor 2 LP
—
Deed Of Trust
related
$6,789,204 · Miscellaneous Ins Co
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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