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Property profile & analytics
OFF-MARKET
Estimated value
$52,530,000
Schools
40-44 68th St New York, NY 10023
Entity Owned
3-yr Hold
Free & Clear
Property ID
US63-3983529
Property profile
Verified
Property type
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Year built
1923
Total area
24,030 SF
Lot
0.18 ac (7,757 SF)
Zoning code
R8
APN
01120-0048
UPID
US63-3983529
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
$52.53M
Owner & transaction history
Cognita Us Propco LLC · 3 yrs held
Cognita Us Propco LLC
since 2023
Last sale
$50.0M
3 recorded transactions
Zoning & alternative use
R8 · 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
$57,585,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$52.53M
Range $47.28M – $57.78M · ±10% · vs last sale $50.00M (Feb 8 2023)
Last sale anchor
$50.00M
Feb 8 2023
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
$2,186 / 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
$499,595
Tax year 2024
Assessed value
$4,716,720
Assessed 2024
Previous assessed
$4,637,110
+1.7% YoY
Effective rate
10.59%
On assessed value
Assessed land
$1,597,500
Assessed improvement
$3,119,220
Land market value
$3,550,000
Improvement market value
$7,379,000
Total market value
$10,929,000
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
Schools
Use group
COLLEGE, UNIVERSITY, VOC SCHOOL
Status
Off-Market
Year built
1923
Heating
NONE
Buildings
1
Stories
4
Units
2
Total area
24,030 SF
Lot
0.18 ac (7,757 SF)
Zoning code
R8
APN
01120-0048
UPID
US63-3983529
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8 · New York, NY
Zoning R8 · permitted uses
R8 · 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.
Building & site characteristics
From public records
Year built
1923
Heating
NONE
Stories
4
Buildings
1
Units
2
Lot
0.18 ac
Current owner
From public records · entity-resolved
Cognita Us Propco LLC
Entity
Free & Clear · 3 yrs held
Mailing address
41-42 EASTCASTLE ST FL 3RD XX
Ownership since
2023
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
Feb 8, 2023
$50,000,000
Cognita Us Propco LLC
York Prep Realty LLC
Deed
—
Feb 10, 2005
—
York Prep Realty LLC
Stewart,jayme & Ronald P
Grant Deed
related
—
—
—
York Prep Realty LLC
—
Loan Modification, Consolidation And Extension
related
$2,999,999 · Jp Morgan Chase 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.
Try Rey
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