511 6th St New York, NY 10009-6620
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Estimated value (blended)
$3.40M
Range $3.06M – $3.74M (±10%)
Implied cap rate
5.80%
In-place · NOI ÷ last sale
Property ID
US63-5488446
Property summary
AI-generated overview
Exceptional investment opportunity in New York City's vibrant East Village. This distressed multifamily property at 511 E 6th Street, New York, NY 10009, presents a compelling acquisition prospect. The building, constructed in 1920, comprises a five-story structure encompassing 6,152 square feet on a 2,150 square foot lot. The property features eight two-bedroom, two-bathroom apartments, six of which are currently occupied. Adding to its income potential is a substantial 1,700 square foot retail space on the first floor. The property is classified as a Class C multifamily building and is zoned R7B. This is a bankruptcy sale with a bid deadline of November 20, 2024, and an auction date of December 3, 2024. A virtual data room is available for due diligence at www.eastvillagemultifamily-bankruptcy.com. The sale is subject to a buyer's premium. This is an ideal opportunity for investors seeking a value-add project in a prime location. The property is offered individually. Further details are available upon request.
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1920
Total area
6,152 SF
Lot
0.05 ac (2,150 SF)
Zoning code
R7B
APN
00402-0060
UPID
US63-5488446
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Advertising Agency Marketing & Advertising
-
Accounting Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.40M
CAP Approach
CAP
$3.02M
Comparable Approach
Comparable
$3.77M
Blend (final)
Blend
$3.40M
Owner & transaction history
since 2024
Last sale
$3.4M
5 recorded transactions
Zoning & alternative use
R7B · New York, NY
Top alternative use upside
Warehouse, storage
$5.0M
+29.3%
Office building
$3.9M
+1.1%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.40M
Value range
$3.06M – $3.74M
±10% around blend
Estimated value / SF
$553 / SF
Confidence
High
5 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
50
$3.06M
blend $3.40M
$3.74M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
6,152 SF
Lot area
0.05 ac
Year built
1920
Stories
5
APN
00402-0060
Assessed value
$574,731
Annual tax
$71,853
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.02M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.27M
@ 6.5% CAP return
$3.02M
@ 7% CAP return
$2.80M
4
Sales comparison
Partial preview
Sales approach indication
$7.93M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.2 mi away · 7,693 SF
0.6 mi away · 7,667 SF
0.6 mi away · 6,784 SF
0.6 mi away · 7,670 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.40M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 61 sales
$632
-13%
Submarket 1320 sales
$725
-24%
County 1319 sales
$722
-23%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $553/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Warehouse, Storage
Gross theoretical uplift
+29%
vs current-use indication
Office Building
Commercial (general) · current use
Apartment House (5+ Units)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
Implied cap rate
5.80%
Implied, in-place cap rate for this retail residential properties
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.80%
9.0%
NOI (est.)
$238k *
Last sale · Dec 2024
$3.40M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.10M
Move the market yield to see immediate price impact.
Value / SF
$667
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.30%5.80%6.30%
$214k
$4.04M
$3.69M
$3.40M
$238k
$4.49M
$4.10M
$3.78M
$262k
$4.94M
$4.51M
$4.16M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$8.80M
0.1 mi · Dec 2025 · $1,228/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$71,853
Tax year 2024
Assessed value
$574,731
Assessed 2024
Previous assessed
$532,160
+8.0% YoY
Effective rate
12.50%
On assessed value
Assessed land
$107,041
Assessed improvement
$467,690
Land market value
$501,000
Improvement market value
$2,189,000
Total market value
$2,690,000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1920
Heating
NONE
Buildings
1
Stories
5
Units
9
Total area
6,152 SF
Lot
0.05 ac (2,150 SF)
Zoning code
R7B
APN
00402-0060
UPID
US63-5488446
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7B · New York, NYZoning R7B · permitted uses
R7B · New York, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1920
Heating
NONE
Stories
5
Buildings
1
Units
9
Lot
0.05 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R7B
Jurisdiction
New York, NY
Recorded code
R7B
Ownership Intelligence
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Debt & historyRecorded loans and transaction history
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