421 12th St New York, NY 10009-4085
Entity Owned
1-yr Hold
~
Est. High Equity
Estimated value (blended)
$6.00M
Range $5.40M – $6.60M (±10%)
Implied cap rate
5.60%
In-place · NOI ÷ last sale
Property ID
US63-2935324
Property summary
AI-generated overview
This exceptional investment opportunity presents a six-story, Class C multifamily building located at 421 E 12th Street in New York City's vibrant East Village. Built in 2001, this property boasts a total of 10,512 square feet situated on a 2,512 square foot lot, zoned R8B. The building comprises nine two-bedroom, one-bathroom apartments and one one-bedroom, one-bathroom apartment. Currently, five of the two-bedroom units are occupied, resulting in a 55% occupancy rate. Adding significant value is a substantial 2,200 square foot commercial space on the first floor, presenting diverse income potential. The property is being offered as part of a bankruptcy sale or refinancing process, with a bid deadline of November 20, 2024, and an auction date of December 3, 2024. A virtual data room is available for due diligence. This is a rare chance to acquire a well-located multifamily asset in a high-demand area with potential for significant returns. The property consists of one building with a total of six stories. Further details are available upon request. Interested parties should review the provided virtual data room for complete information.
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2001
Total area
10,512 SF
Lot
0.06 ac (2,512 SF)
Zoning code
R8B
APN
00440-0049
UPID
US63-2935324
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Courier Service Postal Service
-
Consultant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.00M
CAP Approach
CAP
$5.16M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.00M
Owner & transaction history
since 2024
Last sale
$6.0M
4 recorded transactions
Zoning & alternative use
R8B · New York, NY
Top alternative use upside
Warehouse, storage
$8.6M
+29.3%
Office building
$6.7M
+1.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 10 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$6.00M
Value range
$5.40M – $6.60M
±10% around blend
Estimated value / SF
$571 / SF
Confidence
High
10 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
100
$5.40M
blend $6.00M
$6.60M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
10,512 SF
Lot area
0.06 ac
Year built
2001
Stories
7
APN
00440-0049
Assessed value
$1,438,956
Annual tax
$179,898
3
Income approach: direct capitalization
Partial preview
Income approach indication
$5.16M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$5.59M
@ 6.5% CAP return
$5.16M
@ 7% CAP return
$4.79M
4
Sales comparison
Partial preview
Sales approach indication
$8.95M
Weighted, 10 comps · high confidence
Evidence
10 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.2 mi away · 7,693 SF
0.5 mi away · 8,133 SF
0.7 mi away · 8,899 SF
0.7 mi away · 9,565 SF
0.7 mi away · 12,250 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$6.00M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 61 sales
$632
-10%
Submarket 1320 sales
$725
-21%
County 1319 sales
$722
-21%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $571/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Warehouse, Storage
Gross theoretical uplift
+29%
vs current-use indication
Office Building
Commercial (general) · current use
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 10 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
5.60%
Implied, in-place cap rate for this retail residential properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.60%
9.0%
NOI (est.)
$420k *
Last sale · Dec 2024
$6.00M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.50M
Move the market yield to see immediate price impact.
Value / SF
$713
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.10%5.60%6.10%
$378k
$7.41M
$6.75M
$6.20M
$420k
$8.24M
$7.50M
$6.89M
$462k
$9.06M
$8.25M
$7.57M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
10 found
High confidence · county-verified
Closest comparable
$8.69M
0.1 mi · Dec 2025 · $768/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$179,898
Tax year 2024
Assessed value
$1,438,956
Assessed 2024
Previous assessed
$1,417,306
+1.5% YoY
Effective rate
12.50%
On assessed value
Assessed land
$175,500
Assessed improvement
$1,263,456
Land market value
$390,000
Improvement market value
$3,073,000
Total market value
$3,463,000
Applied tax rate
2.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
2001
Heating
NONE
Buildings
1
Stories
7
Units
11
Total area
10,512 SF
Lot
0.06 ac (2,512 SF)
Zoning code
R8B
APN
00440-0049
UPID
US63-2935324
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8B · New York, NYZoning R8B · permitted uses
R8B · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
2001
Heating
NONE
Stories
7
Buildings
1
Units
11
Lot
0.06 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R8B
Jurisdiction
New York, NY
Recorded code
R8B
Ownership Intelligence
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Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
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Debt & historyRecorded loans and transaction history
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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