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Property profile & analytics
OFF-MARKET
Estimated value
$10,665,000
Apartment buildings
503 12th St 17 Brooklyn, NY 11215-5204
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US63-1663955
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1915
Total area
30,047 SF
Lot
0.23 ac (10,000 SF)
Zoning code
R6B
APN
01097-0056
UPID
US63-1663955
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
$8.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$7.88M
Blend (final)
Blend
$10.67M
Owner & transaction history
503-9 12 St LLC · 5 yrs held
503-9 12 St LLC
since 2020
Last sale
$11.1M
7 recorded transactions
Zoning & alternative use
R6B · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$16.5M
+20.6%
Warehouse, storage
$15.1M
+9.8%
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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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
$10,665,000
ML approach
$8,960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$13,715,000
Current use
OFFICE BUILDING
$16,540,000
Change: +21% · Conversion: Moderate
WAREHOUSE, STORAGE
$15,060,000
Change: +10% · Conversion: Difficult
Blend value · Realmo final
$10.67M
Range $9.60M – $11.73M · ±10% · vs last sale $11.10M (Dec 10 2020)
Last sale anchor
$11.10M
Dec 10 2020
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
$355 / 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
$304,181
Tax year 2024
Assessed value
$2,500,200
Assessed 2024
Previous assessed
$2,703,150
-7.5% YoY
Effective rate
12.17%
On assessed value
Assessed land
$360,000
Assessed improvement
$2,140,200
Land market value
$800,000
Improvement market value
$4,756,000
Total market value
$5,556,000
Applied tax rate
2.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1915
Heating
NONE
Buildings
2
Stories
4
Units
34
Total area
30,047 SF
Lot
0.23 ac (10,000 SF)
Zoning code
R6B
APN
01097-0056
UPID
US63-1663955
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6B · Brooklyn, NYZoning R6B · permitted uses
R6B · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$13.7M
OFFICE BUILDING
Est. value
$16.5M
WAREHOUSE, STORAGE
Est. value
$15.1M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1915
Heating
NONE
Stories
4
Buildings
2
Units
34
Lot
0.23 ac
Current owner
From public records · entity-resolved
503-9 12 St LLC
Entity
Mailing address
862 BROADWAY APT #3, NEW YORK, NY 10003-1242
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2020
$11,100,000
503-9 12 St LLC
505-509 12th St. LLC
Deed
$1,527,188 · Connectone Bank
Dec 10, 2020
—
503-9 12 St LLC
—
Deed
related
$7,740,000 · Connectone Bk
Mar 3, 2006
—
505-509 12th St LLC
Goldstein,leon
Grant Deed
related
—
—
—
505-509 12th St LLC
—
Deed Of Trust
related
$4,049,246 · New York Community Bank
—
—
505-509 12th St LLC
—
Deed Of Trust
related
$3,175,643 · New York Cmnty Bk
—
—
505-509 12th St LLC
—
Loan Modification, Consolidation And Extension
related
$7,000,000 · New York Cmnty Bk
—
—
Leon Goldstein
—
Deed Of Trust
related
$2,028,553 · Independence Community Bank
—
—
503-9 12 St LLC
—
Loan Modification
related
$7,740,000 · Connectone Bk
—
—
505-509 12th St LLC
—
Deed Of Trust
related
$4,200,000 · New York Community Bank
—
—
505-509 12th St LLC
—
Deed Of Trust
related
$1,968,140 · 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.
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