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Property profile & analytics
OFF-MARKET
Estimated value
$4,280,000
Flex space
407 61st St, New York, NY 10065-8736
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US63-3739462
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1928
Total area
24,579 SF
Lot
0.22 ac (9,602 SF)
Zoning code
C8-4
APN
01456-1101
UPID
US63-3739462
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
-
Brain and Mind Research Institute Research Institute
-
Costantino Iadecola, M.D. Physician Medical Clinic
-
Gertrude and Louis Feil Family Research Building Research Institute
-
Ishii Lab Laboratory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.50M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.28M
Owner & transaction history
Park Plaza Garage LLC · 10 yrs held
Park Plaza Garage LLC
since 2016
2 recorded transactions
Zoning & alternative use
C8-4 · 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%
$5,950,000
6.5%
$5,495,000
7%
$5,100,000
Blend value · Realmo final
$4.28M
Range $3.85M – $4.71M · ±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
$174 / 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
$6,621,120
Assessed 2024
Previous assessed
$6,646,050
-0.4% YoY
Assessed land
$708,750
Assessed improvement
$5,912,370
Land market value
$1,575,000
Improvement market value
$14,731,000
Total market value
$16,306,000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1928
Heating
NONE
Buildings
1
Stories
7
Units
1
Total area
24,579 SF
Lot
0.22 ac (9,602 SF)
Zoning code
C8-4
APN
01456-1101
UPID
US63-3739462
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C8-4 · New York, NY
Zoning C8-4 · permitted uses
C8-4 · 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
1928
Heating
NONE
Stories
7
Buildings
1
Units
1
Lot
0.22 ac
Current owner
From public records · entity-resolved
Park Plaza Garage LLC
Entity
Mailing address
PO BOX DH, ITHACA, NY 14852-7500
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2016
—
Park Plaza Garage LLC
—
Deed
related
$22,000,000 · Apple Bk
—
—
Park Plaza Garage LLC
—
Loan Modification, Consolidation And Extension
related
$22,000,000 · Apple 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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