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Property profile & analytics
OFF-MARKET
Apartment buildings
406 51st St New York, NY 10019-6511
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-0793961
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1940
Total area
8,605 SF
Lot
0.06 ac (2,510 SF)
Zoning code
R8
APN
01060-0038
UPID
US63-0793961
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
-
Manhattan Window Tinting Interior Design Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
404-406 West 51st St. Realty Corp. · 1 yrs held
404-406 West 51st St. Realty Corp.
since 2025
Last sale
$7.6M
4 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$102,616
Tax year 2024
Assessed value
$820,800
Assessed 2024
Previous assessed
$834,660
-1.7% YoY
Effective rate
12.50%
On assessed value
Assessed land
$225,900
Assessed improvement
$594,900
Land market value
$502,000
Improvement market value
$1,325,000
Total market value
$1,827,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1940
Heating
NONE
Buildings
1
Stories
5
Units
15
Total area
8,605 SF
Lot
0.06 ac (2,510 SF)
Zoning code
R8
APN
01060-0038
UPID
US63-0793961
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8 · New York, NYZoning 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
Building & site characteristics
From public records
Year built
1940
Heating
NONE
Stories
5
Buildings
1
Units
15
Lot
0.06 ac
Current owner
From public records · entity-resolved
404-406 West 51st St. Realty Corp.
Entity
Free & Clear · 1 yrs held
Mailing address
180 E END AVE APT 6E, NEW YORK, NY 10128-7765
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2026
—
356 West 48th Jv LLC
—
Deed
related
$2,938,840 · Esquire Bank, National Association
Jan 10, 2025
—
356 West 48th Jv LLC
—
Deed
related
$365,000 · Fcr Dc Jv Holdings LLC
Jan 7, 2025
—
404-406 West 51st St. Realty Corp.
404-406 West 51st St. Realty Corp.
Deed
related
—
Jan 7, 2025
$7,595,000
356 West 48th Jv LLC
404-406 West 51st St. Realty Corp.
Deed
$5,700,000 · Fcr Dc Jv Holdings LLC
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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