Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$67,940,000
Banks
35 Jay St Brooklyn, NY 11201-1105
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US63-5978851
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2023
Total area
196,664 SF
Lot
0.44 ac (18,955 SF)
Zoning code
M16R8X
APN
00020-0001
UPID
US63-5978851
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$67.94M
Owner & transaction history
Jay Street Office LLC · 6 yrs held
Jay Street Office LLC
since 2020
Last sale
$61.5M
5 recorded transactions
Zoning & alternative use
M16R8X · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$44.4M
+2,330.5%
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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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
$80,815,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$44,360,000
Change: +2,331% · Conversion: Difficult
Blend value · Realmo final
$67.94M
Range $61.15M – $74.73M · ±10% · vs last sale $61.50M (Mar 25 2020)
Last sale anchor
$61.50M
Mar 25 2020
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
$345 / 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
$969,162
Tax year 2024
Assessed value
$10,008,450
Assessed 2024
Previous assessed
$2,266,200
+341.6% YoY
Effective rate
9.68%
On assessed value
Assessed land
$2,385,450
Assessed improvement
$7,623,000
Land market value
$5,301,000
Improvement market value
$16,940,000
Total market value
$22,241,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2023
Heating
NONE
Buildings
1
Stories
11
Units
13
Total area
196,664 SF
Lot
0.44 ac (18,955 SF)
Zoning code
M16R8X
APN
00020-0001
UPID
US63-5978851
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M16R8X · Brooklyn, NY
Zoning M16R8X · permitted uses
M16R8X · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$44.4M
RETAIL STORES
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
2023
Heating
NONE
Stories
11
Buildings
1
Units
13
Lot
0.44 ac
Current owner
From public records · entity-resolved
Jay Street Office LLC
Entity
Mailing address
1325 AVE OF THE AMERICAS #2301, NEW YORK, NY 10019-6026
Ownership since
2020
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
Oct 29, 2021
—
Jay Street Office LLC
—
Deed
related
$45,900,000 · Aig Asset Management (us), LLC
Mar 25, 2020
$61,500,000
Jay Street Office LLC
Paf Ferry LLC
Grant Deed
$40,000,000 · Bank Of America
Nov 22, 2019
—
Paf Ferry LLC
Forman Ferry LLC
Quit Claim Deed
—
May 12, 2006
—
Forman Ferry LLC
Forman,benson D & Deborah
Quit Claim Deed
related
—
May 12, 2006
$100,064
Peter A Forman
Forman,melvin M
Grant Deed
related
—
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?”
You own 35 Jay St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
