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Property profile & analytics
OFF-MARKET
Estimated value
$3,390,000
Flex space
40 Rector St 550, New York, NY 10006-1705
Individually Owned
11-yr Hold
Free & Clear
Property ID
US63-4335850
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1921
Total area
24,412 SF
Zoning code
C6-9
APN
00055-1007
UPID
US63-4335850
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
-
Sockeye Media, LLC Media Distribution
-
Harry Jho LLC Law Firm
-
Doctors Without Borders Charitable Organization Social Service Agency
-
Street Vendor Project Association / Organization
-
Peter C. Campanelli, PSYD Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.15M
Blend (final)
Blend
$3.39M
Owner & transaction history
Legal Defense Naacp · 11 yrs held
Legal Defense Naacp
since 2014
3 recorded transactions
Zoning & alternative use
C6-9 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.39M
Range $3.05M – $3.73M · ±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
$139 / 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
Assessed value
$1,954,715
Assessed 2024
Previous assessed
$1,935,367
+1.0% YoY
Assessed land
$538,731
Assessed improvement
$1,415,984
Land market value
$1,197,180
Improvement market value
$3,268,185
Total market value
$4,465,365
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 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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1921
Heating
NONE
Units
1
Total area
24,412 SF
Zoning code
C6-9
APN
00055-1007
UPID
US63-4335850
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-9 · New York, NY
Zoning C6-9 · permitted uses
C6-9 · 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
1921
Heating
NONE
Units
1
Current owner
From public records · entity-resolved
Legal Defense Naacp
Individual
Free & Clear · 11 yrs held
Mailing address
40 RECTOR ST #550, NEW YORK, NY 10006-1705
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 2, 2014
$10,662,779
Legal Defense Naacp
40 Rector Owner LLC
Grant Deed
—
Nov 30, 2012
$10,391,100
Legal Defense Naacp
40 Rector Owner LLC
Grant Deed
$4,000,000 · Bank Of America
—
—
Naacp Legal Defense & Educatio
—
Loan Modification
related
$2,448,713 · Bank Of America/il
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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