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Property profile & analytics
OFF-MARKET
Estimated value
$10,055,000
Office buildings
39-41 62nd St, New York, NY 10065
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US63-2999738
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1948
Total area
15,270 SF
Lot
0.08 ac (3,515 SF)
Zoning code
R8B
APN
01377-0027
UPID
US63-2999738
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
$10.17M
CAP Approach
CAP
$7.85M
Comparable Approach
Comparable
$10.46M
Blend (final)
Blend
$10.06M
Owner & transaction history
Cf Consulting Twenty Six LLC · 5 yrs held
Cf Consulting Twenty Six LLC
since 2021
Last sale
$10.0M
7 recorded transactions
Zoning & alternative use
R8B · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$15.5M
+59.1%
Warehouse, storage
$12.5M
+27.9%
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
$10,050,000
ML approach
$10,170,000
CAP Approach
CAP Return
Estimation
6%
$8,500,000
6.5%
$7,845,000
7%
$7,285,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,755,000
Current use
COMMERCIAL (GENERAL)
$15,515,000
Change: +59% · Conversion: Easy
WAREHOUSE, STORAGE
$12,480,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$8,260,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$10.06M
Range $9.05M – $11.06M · ±10% · vs last sale $10.00M (Apr 22 2021)
Last sale anchor
$10.00M
Apr 22 2021
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
$658 / 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
$348,414
Tax year 2024
Assessed value
$3,289,410
Assessed 2024
Previous assessed
$3,307,050
-0.5% YoY
Effective rate
10.59%
On assessed value
Assessed land
$1,800,000
Assessed improvement
$1,489,410
Land market value
$4,000,000
Improvement market value
$3,391,000
Total market value
$7,391,000
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
1948
Heating
NONE
Buildings
1
Stories
5
Units
1
Total area
15,270 SF
Lot
0.08 ac (3,515 SF)
Zoning code
R8B
APN
01377-0027
UPID
US63-2999738
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8B · New York, NY
Zoning R8B · permitted uses
R8B · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
New York. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.8M
COMMERCIAL (GENERAL)
Est. value
$15.5M
WAREHOUSE, STORAGE
Est. value
$12.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$8.3M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
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
1948
Heating
NONE
Stories
5
Buildings
1
Units
1
Lot
0.08 ac
Current owner
From public records · entity-resolved
Cf Consulting Twenty Six LLC
Entity
Mailing address
770 LEXINGTON AVE FL #11, NEW YORK, NY 10065-8165
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 22, 2021
—
Cf Consulting Twenty Six LLC
41 East LLC
Grant Deed
—
Oct 9, 2018
—
41 East LLC
—
Grant Deed
related
$68,985,296 · Citibank
Mar 18, 2015
—
41 East LLC
Olma Realty Corp
Grant Deed
related
—
Dec 4, 2014
—
41 East LLC
—
Grant Deed
related
$23,475,000 · Citibank
Oct 29, 2004
$14,567,500
41 East LLC
Olma Realty Corp
Trustees Deed
$10,500,000 · Citibank
—
—
41 East LLC
—
Loan Modification
related
$58,540,242 · Citibank
—
—
41 East LLC
—
Loan Modification
related
$30,975,000 · Citibank
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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