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Property profile & analytics
OFF-MARKET
Estimated value
$840,000
Office buildings
356-358 40th St New York, NY 10018
Entity Owned
2-yr Hold
Free & Clear
Property ID
US63-1879180
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1920
Total area
10,980 SF
Lot
0.04 ac (1,886 SF)
Zoning code
C17A
APN
00763-0072
UPID
US63-1879180
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
$840k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$840k
Owner & transaction history
Markey 1907 INC. · 2 yrs held
Markey 1907 INC.
since 2024
Last sale
$838,000
3 recorded transactions
Zoning & alternative use
C17A · 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
$840,000
ML approach
$840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$840k
Range $756k – $924k · ±10% · vs last sale $838k (Jan 23 2024)
Last sale anchor
$838k
Jan 23 2024
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
$77 / 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
$79,408
Tax year 2024
Assessed value
$802,980
Assessed 2024
Previous assessed
$838,080
-4.2% YoY
Effective rate
9.89%
On assessed value
Assessed land
$182,700
Assessed improvement
$620,280
Land market value
$406,000
Improvement market value
$1,260,000
Total market value
$1,666,000
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
1920
Heating
NONE
Buildings
1
Stories
6
Units
6
Total area
10,980 SF
Lot
0.04 ac (1,886 SF)
Zoning code
C17A
APN
00763-0072
UPID
US63-1879180
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C17A · New York, NYZoning C17A · permitted uses
C17A · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
6
Buildings
1
Units
6
Lot
0.04 ac
Current owner
From public records · entity-resolved
Markey 1907 INC.
Entity
Free & Clear · 2 yrs held
Mailing address
ATTN TARYN LAROCK 1120TH MONTANA AVE SU STE #843, SANTA MONICA, CA 90403
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 23, 2024
$838,000
Markey 1907 INC.
Orj Properties, INC.
Deed
—
Jan 23, 2007
—
Orj Properties INC
Orj Properties INC
Quit Claim Deed
related
$1,750,000 · Grand Pacific Financing Corp
—
—
Orj Properties INC
—
Deed Of Trust
related
$1,040,763 · Grand Pacific Financing Corp
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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