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Property profile & analytics
OFF-MARKET
Estimated value
$1,890,000
Specialty properties
48 Park Ave New York, NY 10016-3407
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-2714887
Property profile
Verified
Property type
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Year built
1931
Total area
98,746 SF
Lot
0.3 ac (12,857 SF)
Zoning code
R10
APN
00866-0042
UPID
US63-2714887
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
$1.89M
Owner & transaction history
Union League Club · 4 yrs held
Union League Club
since 2021
5 recorded transactions
Zoning & alternative use
R10 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+21.7%
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
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS
$2,180,000
Current use
OFFICE BUILDING
$2,650,000
Change: +22% · Conversion: Difficult
Blend value · Realmo final
$1.89M
Range $1.70M – $2.08M · ±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
$19 / 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
$986,359
Tax year 2024
Assessed value
$9,312,300
Assessed 2024
Previous assessed
$9,332,280
-0.2% YoY
Effective rate
10.59%
On assessed value
Assessed land
$3,672,000
Assessed improvement
$5,640,300
Land market value
$8,160,000
Improvement market value
$13,524,000
Total market value
$21,684,000
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
Specialty properties
Use group
PROFESSIONAL CLUBS/ASSOCIATIONS
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
12
Units
1
Total area
98,746 SF
Lot
0.3 ac (12,857 SF)
Zoning code
R10
APN
00866-0042
UPID
US63-2714887
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R10 · New York, NY
Zoning R10 · permitted uses
R10 · 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
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.7M
CLUBS, LODGES, PROFESSIONAL ASSOCIATIONS Current
OFFICE BUILDING
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
1931
Heating
NONE
Stories
12
Buildings
1
Units
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Union League Club
Individual
Mailing address
38 E 37TH ST, NEW YORK, NY 10016-3008
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 3, 2021
—
Union League Club
—
Deed
related
$2,409,679 · Signature Bank
Jul 2, 2018
—
Union League Club New York Cit
—
Deed
related
$1,840,320 · Signature Bk
—
—
Union League Club New York Cit
—
Deed Of Trust
related
$3,000,000 · Signature Bk
—
—
Union League Club New York Cit
—
Loan Modification
related
$1,840,320 · Signature Bk
—
—
Union League Club
—
Loan Modification
related
$2,750,000 · Signature Bk
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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