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Property profile & analytics
OFF-MARKET
Estimated value
$68,125,000
Retail residential properties
39 Waverly Ave 53, Brooklyn, NY 11205-1203
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US63-2924881
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1920
Total area
184,411 SF
Lot
0.95 ac (41,196 SF)
Zoning code
M1-2
APN
01874-0001
UPID
US63-2924881
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
$68.13M
Owner & transaction history
Thor Chocolate Factory LLC · 1 yrs held
Thor Chocolate Factory LLC
since 2024
7 recorded transactions
Zoning & alternative use
M1-2 · Brooklyn, 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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$104,670,000
Change: -16% · Conversion: Moderate
OFFICE BUILDING
$101,515,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$68.13M
Range $61.31M – $74.94M · ±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
$369 / 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
$1,733,785
Tax year 2024
Assessed value
$14,640,300
Assessed 2024
Previous assessed
$15,783,750
-7.2% YoY
Effective rate
11.84%
On assessed value
Assessed land
$741,600
Assessed improvement
$13,898,700
Land market value
$1,648,000
Improvement market value
$30,886,000
Total market value
$32,534,000
Applied tax rate
2.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1920
Heating
NONE
Buildings
4
Stories
7
Units
80
Total area
184,411 SF
Lot
0.95 ac (41,196 SF)
Zoning code
M1-2
APN
01874-0001
UPID
US63-2924881
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
INDUSTRIAL (GENERAL)
Est. value
$104.7M
OFFICE BUILDING
Est. value
$101.5M
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
1920
Heating
NONE
Stories
7
Buildings
4
Units
80
Lot
0.95 ac
Current owner
From public records · entity-resolved
Thor Chocolate Factory LLC
Entity
Mailing address
250 W 55TH ST FL #35, NEW YORK, NY 10019-9710
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 15, 2024
$58,500,000
Thor Chocolate Factory LLC
275 Park Owner LLC
Deed
—
Nov 21, 2019
—
275 Park Owner LLC
—
Loan Modification
related
$51,064,800 · Heitman Credit Acquisition II
Nov 13, 2019
$67,250,000
275 Park Owner LLC
275 Park Associates LLC
Grant Deed
$4,679,301 · Heitman Credit Acquisition II
Mar 23, 2017
—
275 Park Associates LLC
—
Loan Modification, Consolidation And Extension
related
$60,000,000 · Loancore Cap Credit Reit LLC
Oct 15, 2014
—
275 Park Associates LLC
—
Grant Deed
related
$5,000,000 · Berkadia Com'l Mtg
Sep 12, 2014
$68,000,000
275 Park Associates LLC
The Chocolate Factory LLC
Deed
—
Aug 10, 2007
—
Chocolate Factory LLC
—
Deed Of Trust
related
$47,000,000 · * Other Institutional Lenders
—
—
Chocolate Factory LLC
—
Deed Of Trust
related
$16,907,683 · Bear Stearns Commercial Mtg
—
—
Chocolate Factory LLC
—
Loan Modification
related
$35,000,000 · Berkadia Commercial Mortgage
—
—
Chocolate Factory LLC
—
Deed Of Trust
related
$700,000 · Column Financial INC
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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