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Property profile & analytics
OFF-MARKET
Estimated value
$1,985,000
Office buildings
37 15th St Brooklyn, NY 11222-6468
Entity Owned
12-yr Hold
~
Est. High Equity
Property ID
US63-0871156
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1931
Total area
5,900 SF
Lot
0.09 ac (3,738 SF)
Zoning code
M1-2
APN
02614-0024
UPID
US63-0871156
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
-
Sam Mogavero at CrossCountry Mortgage | NMLS# 2040519 Loan Service Bank
-
Sherry Chang Acupuncture Alternative Medicine Practice Acupuncture
-
Eric Stam at CrossCountry Mortgage Loan Service Bank
-
Madeline Escobar at CrossCountry Mortgage Loan Service Bank
-
Klughaus Mural Agency Artist Art Dealer
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.42M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.99M
Owner & transaction history
1-11 Gem Street LLC · 12 yrs held
1-11 Gem Street LLC
since 2014
4 recorded transactions
Zoning & alternative use
M1-2 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.3M
+0.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,615,000
6.5%
$2,415,000
7%
$2,245,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,250,000
Current use
WAREHOUSE, STORAGE
$3,260,000
Change: +0% · Conversion: Difficult
Blend value · Realmo final
$1.99M
Range $1.79M – $2.18M · ±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
$336 / 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
$64,022
Tax year 2024
Assessed value
$639,000
Assessed 2024
Previous assessed
$591,300
+8.1% YoY
Effective rate
10.02%
On assessed value
Assessed land
$40,500
Assessed improvement
$598,500
Land market value
$90,000
Improvement market value
$1,330,000
Total market value
$1,420,000
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
1931
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
5,900 SF
Lot
0.09 ac (3,738 SF)
Zoning code
M1-2
APN
02614-0024
UPID
US63-0871156
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-2 · Brooklyn, NY
Zoning M1-2 · permitted uses
M1-2 · 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
OFFICE BUILDING Current
Est. value
$3.3M
WAREHOUSE, STORAGE
Est. value
$3.3M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
1931
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
1-11 Gem Street LLC
Entity
Mailing address
60 COLLISTER ST APT 1B, NEW YORK, NY 10013-2082
Ownership since
2014
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
Oct 8, 2020
—
1-11 Gem Street LLC
—
Deed
related
$1,275,000 · Flushing Bk
Jan 3, 2014
$2,725,000
1-11 Gem Street LLC
37 North 15th Street Corp
Grant Deed
—
—
—
37 North 15th Street Corp
—
Deed Of Trust
related
$400,000 · Greenpoint Mortgage Funding
—
—
1-11 Gem Street LLC
—
Deed Of Trust
related
$1,275,000 · Flushing 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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