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Property profile & analytics
FOR LEASE
Retail residential properties
5119 Beach Channel Dr, Far Rockaway, NY 11691
Entity Owned
1-yr Hold
Free & Clear
Property ID
US63-0762310
For Lease
1 / 4
$25,135,000
5119 Beach Channel Dr, Far Rockaway, NY 11691
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Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
2023
Total area
242,731 SF
Lot
1.14 ac (49,789 SF)
Zoning code
C4-4
APN
15843-0001
UPID
US63-0762310
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
$25.14M
Owner & transaction history
Ec B1 Housing Development Fund Corp · 1 yrs held
Ec B1 Housing Development Fund Corp
since 2025
7 recorded transactions
Zoning & alternative use
C4-4 · Far Rockaway, 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 Far Rockaway submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Far Rockaway 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
$104 / 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
$247,821
Tax year 2024
Assessed value
$1,982,250
Assessed 2024
Previous assessed
$665,569
+197.8% YoY
Effective rate
12.50%
On assessed value
Assessed land
$671,850
Assessed improvement
$1,310,400
Land market value
$1,493,000
Improvement market value
$2,912,000
Total market value
$4,405,000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
For Lease
Year built
2023
Heating
NONE
Buildings
1
Stories
13
Units
294
Total area
242,731 SF
Lot
1.14 ac (49,789 SF)
Zoning code
C4-4
APN
15843-0001
UPID
US63-0762310
Jurisdiction
QUEENS
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C4-4 · Far Rockaway, NY
Zoning C4-4 · permitted uses
C4-4 · Far Rockaway, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Far Rockaway. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2023
Heating
NONE
Stories
13
Buildings
1
Units
294
Lot
1.14 ac
Current owner
From public records · entity-resolved
Ec B1 Housing Development Fund Corp
Entity
Free & Clear · 1 yrs held
Mailing address
1985 MARCUS AVE STE #100, NEW HYDE PARK, NY 11042-2025
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2025
—
Ec B1 Housing Development Fund Corp
Ec Parcel, L.l.c.
Deed
—
Jul 7, 2023
$11,500,000
Ec B1 Housing Development Fund Corp
Ec Parcel, L.l.c.
Deed
$44,184,982 · New York City Housing Development C
Jul 7, 2023
—
B1 Retail Parcel Trs, L.l.c.
—
Deed
related
$13,999,977 · New York City Housing Development Corpor
Dec 8, 2021
$90,400,000
Ec Parcel, L.l.c.
Peninsula Rockaway Housing Developm
Deed
$21,738,973 · Wells Fargo Bank, National Associat
Feb 24, 2020
—
Peninsula Rockaway LP
—
Deed
related
$34,000,000 · Wells Fargo Bk
May 19, 2016
$19,000,000
Peninsula Rockaway Hsng Dev Fu
Zichron Yitzchok Congregation
Grant Deed
$14,200,000 · Wells Fargo Bk
Jan 10, 2014
$3,250,000
Zichron Yitzchok Congregation
Beach Drive Holdings LLC
Grant Deed
$3,500,000 · Beach Drive Holdings LLC
Jun 27, 2013
$7,250,000
Beach Drive Holdings LLC
Peninsula Hospital Center
Grant Deed
related
—
—
—
Peninsula Rockaway LP
—
Loan Modification
related
$34,000,000 · Wells Fargo 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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