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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    440 47th St New York, NY 10036-2332

    • Apartment buildings
    • 37,480 SF
    • 0.17 lot acres
    OFF-MARKET
    Value Estimations
    $11,350,000
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-1472635
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Serpe Consulting Corp. / Medical Billing Service

    Property Details for 440 47th St

    Year built
    1940
    Lot size
    0.17 lot acres
    Property size
    37,480 SF
    Zone code
    R8
    Property type
    Apartment buildings
    APN
    01056-0052
    APU
    10560052

    Description

    This exceptional 1,400 square foot single-tenant executive office space is ideally located at 440 W 47th St in the vibrant Hell's Kitchen neighborhood of New York City, New York County, zip code 10036. The property is categorized as both retail and office space, making it versatile for a variety of businesses. The entire space is currently vacant and ready for immediate occupancy. This presents a unique opportunity for a business seeking a prominent location in a bustling area of Manhattan. The building offers a total of 1,400 square feet, all of which is available for lease. The property's classification as an "Executive Office" suggests a high-quality finish and potentially desirable amenities, although specifics are not provided. Its location in Hell's Kitchen offers easy access to various transportation options, numerous restaurants, and a diverse range of businesses. The address is conveniently situated at 440 W 47th St, providing excellent visibility and accessibility. This single-tenant space provides the ideal environment for a company seeking a dedicated and well-located office in the heart of New York City. Interested parties are encouraged to inquire further for lease terms and conditions. The property is situated at latitude 40.7621639 and longitude -73.9922381.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9922
    Latitude
    40.7622
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $608,351
    $682,200
    $4,183,830
    $4,866,030
    -
    $1,516,000
    $10,986,000
    $12,502,000

    Comparable in this City

    • Value Estimation
      $6,840,000
      32,520 SF

      352-356 46th St

      APARTMENT HOUSE (5+ UNITS) • 32,520 SF
      352-356 46th St, New York, NY 10036
      View Details
    • Value Estimation
      $14,415,000
      52,850 SF

      525-531 47th St

      APARTMENT HOUSE (5+ UNITS) • 52,850 SF
      525-531 47th St, New York, NY 10036
      View Details
    • Value Estimation
      $2,965,000
      9,855 SF

      447 43rd St

      APARTMENT HOUSE (5+ UNITS) • 9,855 SF
      447 43rd St, New York, NY 10036-5313
      View Details
    • Value Estimation
      $5,425,000
      21,660 SF

      451-453 44th St

      APARTMENT HOUSE (5+ UNITS) • 21,660 SF
      451-453 44th St, New York, NY 10036
      View Details
    • Value Estimation
      $2,825,000
      10,008 SF

      414 45th St

      APARTMENT HOUSE (5+ UNITS) • 10,008 SF
      414 45th St, New York, NY 10036-3594
      View Details
    • Value Estimation by Request
      264,451 SF

      546 44th St

      APARTMENT HOUSE (5+ UNITS) • 264,451 SF
      546 44th St, New York, NY 10036-3425
      View Details

    Similar Nearby for Sale

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      Manhattan Triplex with Nine Apartments

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      Mixed-Use Building in Hell's Kitchen

      Mixed-use property featuring retail and residential units in Manhattan.
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    • $430,000

      Residential Property in New York

      Residential property for sale in New York, NY.
      353 W 47Th St, New York, NY 10036
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    • $695,000

      Residential Income Property For Sale

      Residential income property available for purchase.
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    Similar Nearby for Lease

    • Contact for pricing

      North Facing Studio Apartment

      Studio apartment in Hell's Kitchen near transit and amenities.
      416 W 47Th St, New York City, NY 10036
      View Details
    • $2,200 /Mo

      Residential Unit in New York

      Residential unit for rent in New York, NY.
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      View Details
    • $90 SF/Yr
      1,000 SF

      Hell's Kitchen Retail Space For Lease

      Prime 1,000 SF Retail Space in NYC
      442 45Th St, New York, NY 10036
      View Details
    • Contact for pricing
      1,938 SF

      Midtown West Retail Space For Lease

      Prime NYC Retail, 1938 sq ft, High Traffic
      566 10Th Ave, New York, NY 10036
      View Details
    • Contact for pricing

      Retail Space in Times Square

      Retail property available for lease in Times Square, New York.
      701 7Th Ave, New York, NY 10036
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    • Contact for pricing
      40,240 SF

      Office Space Ready for Installation

      Demolished office floors available for tenant build-out.
      1166 Avenue Of The Americas, New York, NY 10036
      View Details
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    New York, NY 10036-2332
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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