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Property profile & analytics
OFF-MARKET
High-rise multifamily apartments
5 Freer St, Lynbrook, NY 11563-2826
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-5646517
Property profile
Verified
Property type
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Year built
1961
Total area
18,262 SF
Lot
0.95 ac (41,251 SF)
APN
42-142-00-0051
UPID
US63-5646517
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
-
ART NYC DJ & Entertainment Business Service Center
-
The Cornerstone Yorkshire Apartment Building
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
5 Freer Street Re LLC · 3 yrs held
5 Freer Street Re LLC
since 2022
Last sale
$42.6M
7 recorded transactions
Zoning & alternative use
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 Lynbrook submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lynbrook 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 2023Property tax & assessments
Tax year 2023
Assessed value
$14,692
Assessed 2023
Previous assessed
$34,125
-56.9% YoY
Assessed land
$10,105
Assessed improvement
$4,587
Total market value
$1,469,200
Applied tax rate
286.0000
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
High-rise multifamily apartments
Use group
HIGH-RISE APARTMENTS
Status
Off-Market
Year built
1961
Heating
NONE
Total area
18,262 SF
Lot
0.95 ac (41,251 SF)
APN
42-142-00-0051
UPID
US63-5646517
Jurisdiction
NASSAU
Metro division
NASSAU-SUFFOLK, NY METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1961
Heating
NONE
Lot
0.95 ac
Current owner
From public records · entity-resolved
5 Freer Street Re LLC
Entity
Mailing address
55 OLD TPKE RD STE #506, NANUET, NY 10954-2453
Ownership since
2022
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
Nov 15, 2022
$42,600,000
5 Freer Street Re LLC
The Cornerstone Yorkshire LLC
Bargain And Sale Deed
$1,084,741 · County Of Nassau
Nov 15, 2022
—
5 Freer Street Re LLC
—
Deed
related
$27,215,000 · Greystone Servicing Company LLC
Jan 26, 2021
—
Cornerstone Yorkshire LLC
—
Deed
related
$4,024,715 · Manufacturers & Traders Tr
Aug 24, 2020
—
Nassau Cnty Indl Dev Agcy
—
Deed Of Trust
related
$14,575,285 · Cornerstone Yorkshire LLC
Feb 24, 2015
—
J Wagner Lynbrook LLC
Lynbrook Motel LP
Warranty Deed
—
—
—
Lynbrook Motel LP
—
Deed Of Trust
related
$61,919 · Highlands State Bank
—
—
Nassau Cnty Indl Dev Agcy
—
Deed Of Trust
related
$150,000 · Cornerstone Yorkshire LLC
—
—
Cornerstone Yorkshire LLC
—
Deed Of Trust
related
$4,024,715 · Manufacturers & Traders Tr
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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