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Property profile & analytics
OFF-MARKET
Estimated value
$82,580,000
Banks
462 Park S Ave 478, New York, NY 10016-6818
Individually Owned
1-yr Hold
Free & Clear
Property ID
US63-1770563
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1925
Total area
227,053 SF
Lot
0.46 ac (20,025 SF)
Zoning code
C64A
APN
00861-0044
UPID
US63-1770563
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$82.58M
Owner & transaction history
Frank And Debra Coletto Family Revo · 1 yrs held
Frank And Debra Coletto Family Revo
since 2025
7 recorded transactions
Zoning & alternative use
C64A · 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$101,255,000
Current use
Blend value · Realmo final
$82.58M
Range $74.32M – $90.84M · ±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
$364 / 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
$3,868,124
Tax year 2024
Assessed value
$36,519,300
Assessed 2024
Previous assessed
$35,989,200
+1.5% YoY
Effective rate
10.59%
On assessed value
Assessed land
$9,180,000
Assessed improvement
$27,339,300
Land market value
$20,400,000
Improvement market value
$67,725,000
Total market value
$88,125,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1925
Heating
NONE
Buildings
3
Stories
17
Units
46
Total area
227,053 SF
Lot
0.46 ac (20,025 SF)
Zoning code
C64A
APN
00861-0044
UPID
US63-1770563
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C64A · New York, NY
Zoning C64A · permitted uses
C64A · 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.
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$101.3M
FINANCIAL BUILDING Current
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
1925
Heating
NONE
Stories
17
Buildings
3
Units
46
Lot
0.46 ac
Current owner
From public records · entity-resolved
Frank And Debra Coletto Family Revo
Individual
Free & Clear · 1 yrs held
Mailing address
7 GIRALDA FARMS, MADISON, NJ 07940-1051
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 23, 2025
—
Frank And Debra Coletto Family Revo
Debra Coletto
Deed
—
Jan 8, 2025
$147,500,000
470 Park Ave South LLC
Prii Sjp 470 Park LLC
Deed
$44,000,000 · Metlife Real Estate Lending LLC
Feb 15, 2019
—
Prii Sjp 470 Park LLC
—
Deed
related
$56,000,000 · Metlife R/e Lndg LLC
Jan 29, 2019
—
Prii Sjp 470 Park LLC
470 Pk Ave S Owner LLC
Quit Claim Deed
—
Mar 22, 2013
—
T-c 470 Park Avenue South Owne
Teachers Ins & Annuity Assn Of Am
Grant Deed
related
—
Feb 21, 2013
—
T-c 470 Park Avenue South Owne
Teachers Ins & Annuity Assn Of Am
Warranty Deed
—
Dec 6, 2007
$157,000,000
Teachers Ins & Annuity Assn Of Am
Green 470 Pas LLC
Grant Deed
—
—
—
Prii Sjp 470 Park LLC
—
Deed Of Trust
related
$56,000,000 · Metlife R/e Lndg LLC
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.
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