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Property profile & analytics
FOR LEASE
Office buildings
45-18 Court Sq, Long Island City, NY 11101
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US63-5668278
For Lease
1 / 2
Contact for pricing
45-18 Court Sq, Long Island City, NY 11101
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1920
Total area
213,103 SF
Lot
0.85 ac (36,875 SF)
Zoning code
M15R73
APN
00084-0011
UPID
US63-5668278
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
-
Meals On Wheels Social Service Agency Charitable Organization
-
Westchester SEO Marketing & Advertising
-
Visiting Nurse Services Home Health Care Service
-
The Law Office of Asaf J. Sarno Law Firm
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
45-18 Court Square LLC · 18 yrs held
45-18 Court Square LLC
since 2007
Last sale
$300,000
7 recorded transactions
Zoning & alternative use
M15R73 · Long Island City, 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 Long Island City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Island City 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
Assessed value
$18,905,400
Assessed 2024
Previous assessed
$18,292,500
+3.4% YoY
Assessed land
$1,969,200
Assessed improvement
$16,936,200
Land market value
$4,376,000
Improvement market value
$37,636,000
Total market value
$42,012,000
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
For Lease
Year built
1920
Heating
NONE
Buildings
3
Stories
6
Units
1
Total area
213,103 SF
Lot
0.85 ac (36,875 SF)
Zoning code
M15R73
APN
00084-0011
UPID
US63-5668278
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M15R73 · Long Island City, NY
Zoning M15R73 · permitted uses
M15R73 · Long Island City, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Island City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
6
Buildings
3
Units
1
Lot
0.85 ac
Current owner
From public records · entity-resolved
45-18 Court Square LLC
Entity
Free & Clear · 18 yrs held
Mailing address
515 MADISON AVE FL #15, NEW YORK, NY 10022-5458
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 7, 2025
—
45-18 Court Square Owner, L.l.c.
—
Deed
related
$3,305,767 · Deutsche Bank Ag, New York Branch
Feb 15, 2023
—
45-18 Court Square Owner, L.l.c.
—
Deed
related
$23,996,220 · Acore Capital Mortgage, LP
Dec 30, 2019
—
45-18 Court Square Owner LLC
—
Grant Deed
related
$55,304,117 · Acore Cap Mtg LP
May 17, 2019
—
45-18 LLC
—
Deed
related
$19,000,000 · Td Bk NA
Apr 15, 2009
—
45-18 LLC
—
Deed Of Trust
related
$22,500,000 · Amalgamated Bank
Aug 8, 2007
—
45-18 LLC
—
Deed Of Trust
related
$14,874,138 · Amalgamated Bank
Aug 2, 2007
—
45-18 Court Square LLC
45-18 Court Square LLC
Quit Claim Deed
related
—
Aug 2, 2007
$33,000,000
45-18 LLC
45-18 Court Square LLC
Grant Deed
related
—
—
—
45-18 LLC
—
Loan Modification
related
$19,000,000 · Td Bk NA
—
—
45-18 LLC
—
Deed Of Trust
related
$311,184 · Td Bk NA
—
—
Local 1034 Penison Trust Fund
—
Deed Of Trust
related
—
—
—
45-18 LLC
—
Deed Of Trust
related
$334,625 · New York Community Bank
—
—
Local 1034 Pension Trust Fun
—
Deed Of Trust
related
—
—
—
45-18 LLC
—
Deed Of Trust
related
$21,300,000 · New York Community Bank
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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