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Property profile & analytics
OFF-MARKET
Estimated value
$9,220,000
Apartment buildings
55 Payson Ave, New York, NY 10034-2716
Entity Owned
16-yr Hold
~
Est. High Equity
Property ID
US63-2664259
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1925
Total area
53,436 SF
Lot
0.29 ac (12,825 SF)
Zoning code
R7A
APN
02247-0007
UPID
US63-2664259
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
-
A Casa Big Box & Wholesale Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$9.83M
Blend (final)
Blend
$9.22M
Owner & transaction history
Payson 55 LLC · 16 yrs held
Payson 55 LLC
since 2009
7 recorded transactions
Zoning & alternative use
R7A · New York, 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$7,140,000
Current use
Blend value · Realmo final
$9.22M
Range $8.30M – $10.14M · ±10%
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
$173 / 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
$266,555
Tax year 2024
Assessed value
$2,593,380
Assessed 2024
Previous assessed
$2,523,150
+2.8% YoY
Effective rate
10.28%
On assessed value
Assessed land
$148,950
Assessed improvement
$2,444,430
Land market value
$331,000
Improvement market value
$4,407,000
Total market value
$4,738,000
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
1925
Heating
NONE
Buildings
1
Stories
6
Units
66
Total area
53,436 SF
Lot
0.29 ac (12,825 SF)
Zoning code
R7A
APN
02247-0007
UPID
US63-2664259
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7A · New York, NY
Zoning R7A · permitted uses
R7A · 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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$7.1M
APARTMENT HOUSE (5+ UNITS) Current
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
1925
Heating
NONE
Stories
6
Buildings
1
Units
66
Lot
0.29 ac
Current owner
From public records · entity-resolved
Payson 55 LLC
Entity
Mailing address
10818 QUEENS BLVD STE #302, FOREST HILLS, NY 11375-4758
Ownership since
2009
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 20, 2020
—
Isham 521 LLC
—
Deed
related
$807,035 · Capital One, National Association
Jul 10, 2009
$8,182,000
Payson 55 LLC
55 Payson Avenue LLC
Grant Deed
$4,400,000 · Signature Bank
Oct 19, 2000
—
55 Payson Avenue LLC
Kreitman,richard L & Margery L
Grant Deed
related
—
—
—
55 Payson LLC
—
Deed Of Trust
related
$2,194,100 · Dime Svgs Bk/williamsburgh
—
—
Payson 55 LLC
—
Loan Modification, Consolidation And Extension
related
$9,200,000 · Dime Svgs Bk/williamsburgh
—
—
Payson 55 LLC
—
Deed Of Trust
related
$4,267,115 · Dime Savings Bank Williamsburg
—
—
Post 118 LLC
—
Loan Modification
related
$807,035 · Capital One Nat'l Assn
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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