New search
Property profile & analytics
FOR LEASE
Office buildings
40 Wall St, New York, NY 10005
Individually Owned
Absentee Owner
Free & Clear
Property ID
US63-3221842
For Lease
1 / 2
$5,605,000
40 Wall St, New York, NY 10005
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1931
Total area
1,061,286 SF
Lot
0.79 ac (34,360 SF)
Zoning code
C5-5
APN
00043-0002
UPID
US63-3221842
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
$5.61M
Owner & transaction history
Paul Walter Hinneberg
Paul Walter Hinneberg
since 2026
7 recorded transactions
Zoning & alternative use
C5-5 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$5 / 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
$7,077,748
Tax year 2024
Assessed value
$66,821,640
Assessed 2024
Previous assessed
$67,901,730
-1.6% YoY
Effective rate
10.59%
On assessed value
Assessed land
$19,980,000
Assessed improvement
$46,841,640
Land market value
$44,400,000
Improvement market value
$111,137,000
Total market value
$155,537,000
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
For Lease
Year built
1931
Heating
NONE
Buildings
1
Stories
63
Units
1
Total area
1,061,286 SF
Lot
0.79 ac (34,360 SF)
Zoning code
C5-5
APN
00043-0002
UPID
US63-3221842
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C5-5 · New York, NY
Zoning C5-5 · permitted uses
C5-5 · 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
1931
Heating
NONE
Stories
63
Buildings
1
Units
1
Lot
0.79 ac
Current owner
From public records · entity-resolved
Paul Walter Hinneberg
Individual
Free & Clear · 0 yrs held
Mailing address
725 5TH AVE, NEW YORK, NY 10022-2519
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2026
—
Paul Walter Hinneberg
Christian P Hinneberg
Deed
related
—
Aug 21, 2024
—
Randolph Acquisition Corp.
Nfp Parent Co., LLC
Deed
—
Feb 2, 2015
—
40 Wall Street Holdings Corp
40 Wall Street LP
Quit Claim Deed
—
Jul 3, 2004
—
New Scandic Wall Ltd Partnersh
Scandic Wall Ltd
Quit Claim Deed
related
—
—
—
40 Wall Street LLC
—
Loan Modification
related
$160,000,000 · Ladder Cap Fin
—
—
40 Wall Street LLC
—
Deed Of Trust
related
—
—
—
40 Wall Street LLC
—
Deed Of Trust
related
$20,000,000 · North Fork Bank
—
—
40 Wall Street Dev Assocs Ll
—
Deed Of Trust
related
$160,000,000 · Capital One
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
