New search
Property profile & analytics
OFF-MARKET
Estimated value
$6,965,000
Flex space
55 Water St SUB-1, New York, NY 10041-0004
Entity Owned
Free & Clear
Property ID
US63-3793914
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1970
Total area
87,194 SF
Lot
3.69 ac (160,693 SF)
Zoning code
C6-9
APN
00032-1002
UPID
US63-3793914
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
-
Hoey, King, Epstein, Prezioso & Marquez Law Firm
-
Graphic Quality Web Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Dune Studios (Bike/Boat/Book/etc) Store Photography Service
-
CreativeDrive Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Dely-Lazard , Regine Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.97M
Owner & transaction history
NEW WATER STREET CORP
NEW WATER STREET CORP
Zoning & alternative use
C6-9 · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$80 / 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
$708,894
Tax year 2024
Assessed value
$6,692,728
Assessed 2024
Previous assessed
$6,734,379
-0.6% YoY
Effective rate
10.59%
On assessed value
Assessed land
$1,587,533
Assessed improvement
$5,105,195
Land market value
$3,527,850
Improvement market value
$12,009,921
Total market value
$15,537,771
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
1970
Heating
NONE
Buildings
1
Stories
53
Units
1
Total area
87,194 SF
Lot
3.69 ac (160,693 SF)
Zoning code
C6-9
APN
00032-1002
UPID
US63-3793914
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-9 · New York, NY
Zoning C6-9 · permitted uses
C6-9 · 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.
Building & site characteristics
From public records
Year built
1970
Heating
NONE
Stories
53
Buildings
1
Units
1
Lot
3.69 ac
Current owner
From public records · entity-resolved
NEW WATER STREET CORP
Entity
Free & Clear · 0 yrs held
Mailing address
55 WATER ST STE CONC6, NEW YORK, NY 10041-0019
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
—
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
No recorded transactions
No recorded transactions found for this property.
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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