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Property profile & analytics
OFF-MARKET
Estimated value
$1,972,915,000
Flex space
532 Washington St Sta A, New York, NY 10014
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US63-5462952
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1933
Total area
1,009,855 SF
Lot
4.9 ac (213,618 SF)
Zoning code
C6-3
APN
00596-1101
UPID
US63-5462952
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
$1.97B
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.08B
Blend (final)
Blend
$1.97B
Owner & transaction history
550 Washington Owner (de) LLC · 2 yrs held
550 Washington Owner (de) LLC
since 2024
Last sale
$1,972.9M
7 recorded transactions
Zoning & alternative use
C6-3 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$3,133.9M
+50.1%
Auto repair, garage
$2,334.2M
+11.8%
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 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
$1,972,915,000
ML approach
$1,972,915,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,088,240,000
Current use
RETAIL STORES
$3,133,895,000
Change: +50% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,334,180,000
Change: +12% · Conversion: Easy
Blend value · Realmo final
$1.97B
Range $1.78B – $2.17B · ±10% · vs last sale $1.97B (Jun 18 2024)
Last sale anchor
$1.97B
Jun 18 2024
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
$1,954 / 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
$15,053,216
Tax year 2024
Assessed value
$142,118,732
Assessed 2024
Previous assessed
$142,118,732
+0.0% YoY
Effective rate
10.59%
On assessed value
Assessed land
$13,207,077
Assessed improvement
$128,911,655
Land market value
$29,349,061
Improvement market value
$310,915,000
Total market value
$340,264,061
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1933
Heating
NONE
Buildings
1
Stories
12
Units
1
Total area
1,009,855 SF
Lot
4.9 ac (213,618 SF)
Zoning code
C6-3
APN
00596-1101
UPID
US63-5462952
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-3 · New York, NY
Zoning C6-3 · permitted uses
C6-3 · 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
INDUSTRIAL (GENERAL) Current
Est. value
$2,088.2M
RETAIL STORES
Est. value
$3,133.9M
AUTO REPAIR, GARAGE
Est. value
$2,334.2M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
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
1933
Heating
NONE
Stories
12
Buildings
1
Units
1
Lot
4.9 ac
Current owner
From public records · entity-resolved
550 Washington Owner (de) LLC
Entity
Mailing address
1600 AMPHITHEATRE PKWY, MOUNTAIN VIEW, CA 94043-1351
Ownership since
2024
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
Jun 18, 2024
—
550 Washington Owner (de) LLC
550 Washington Owner (de) LLC
Deed
related
—
Feb 2, 2022
$1,972,915,898
Orange Submarine LLC
550 Washington Economic Joint Ventu
Deed
—
Oct 13, 2020
—
550 Washington Owner (de) LLC
—
Deed
related
$4,432,458 · Wells Fargo Bank, National Association
May 28, 2020
—
550 Washington Owner (de) LLC
—
Deed
related
$40,392,035 · Wells Fargo Bank NA
Dec 11, 2019
—
550 Washington Owner De LLC
—
Loan Modification
related
$191,265,144 · Deutsche Bk Ag/ny Branch
Feb 9, 2018
—
550 Washington Owner De LLC
—
Loan Modification, Consolidation And Extension
related
$356,656,868 · Deutsche Bk Ag/ny Branch
—
—
550 Washington Owner De LLC
—
Loan Modification
related
$103,024,541 · Deutsche Bk Ag/ny Branch
—
—
550 Washington Owner De LLC
—
Loan Modification
related
$563,801,011 · 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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