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Property profile & analytics
OFF-MARKET
Estimated value
$4,155,000
Office buildings
423 Fulton St Brooklyn, NY 11201-5121
Entity Owned
20-yr Hold
Free & Clear
Property ID
US63-0045843
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1920
Total area
11,728 SF
Lot
0.07 ac (2,932 SF)
Zoning code
C64.5
APN
00150-0011
UPID
US63-0045843
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
-
Panda Express Restaurant
-
Ha Caryn OD Physician
-
Debra L. Lorenzo, OD Physician
-
Inna Medow Ophthalmologist (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.80M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.16M
Owner & transaction history
Bnn Fulton Flushing Owner LLC · 20 yrs held
Bnn Fulton Flushing Owner LLC
since 2006
3 recorded transactions
Zoning & alternative use
C64.5 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$6.7M
+3.1%
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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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%
$5,200,000
6.5%
$4,800,000
7%
$4,460,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,455,000
Current use
INDUSTRIAL (GENERAL)
$6,655,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,880,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$4.16M
Range $3.74M – $4.57M · ±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
$354 / 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
$232,858
Tax year 2024
Assessed value
$2,453,850
Assessed 2024
Previous assessed
$2,365,200
+3.7% YoY
Effective rate
9.49%
On assessed value
Assessed land
$406,350
Assessed improvement
$2,047,500
Land market value
$903,000
Improvement market value
$4,550,000
Total market value
$5,453,000
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
Off-Market
Year built
1920
Heating
NONE
Buildings
1
Stories
4
Units
5
Total area
11,728 SF
Lot
0.07 ac (2,932 SF)
Zoning code
C64.5
APN
00150-0011
UPID
US63-0045843
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C64.5 · Brooklyn, NY
Zoning C64.5 · permitted uses
C64.5 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$6.5M
INDUSTRIAL (GENERAL)
Est. value
$6.7M
WAREHOUSE, STORAGE
Est. value
$5.9M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
4
Buildings
1
Units
5
Lot
0.07 ac
Current owner
From public records · entity-resolved
Bnn Fulton Flushing Owner LLC
Entity
Free & Clear · 20 yrs held
Mailing address
423 FULTON ST, BROOKLYN, NY 11201-5121
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2006
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
Nov 27, 2015
—
Bnn Fulton Flushing Owner LLC
—
Trustees Deed
related
$1,943,846 · Mercantil Commercebank
Jan 11, 2006
—
Bnn Fulton Flushing Owner LLC
Bnn Fulton Flushing LLC
Intrafamily Transfer
related
—
—
—
Bnn Fulton Flushing Owner LLC
—
Loan Modification, Consolidation And Extension
related
$13,780,000 · Mercantil Commercebank
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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