New search
Property profile & analytics
OFF-MARKET
Estimated value
$69,360,000
Office buildings
566 Lexington Ave 574 New York, NY 10022-6825
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-0774929
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1931
Total area
458,300 SF
Lot
0.37 ac (16,300 SF)
Zoning code
C6-6
APN
01305-0060
UPID
US63-0774929
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
$69.36M
Owner & transaction history
Tower 570 Co LP · 8 yrs held
Tower 570 Co LP
since 2018
7 recorded transactions
Zoning & alternative use
C6-6 · 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
$151 / 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
$5,554,667
Tax year 2024
Assessed value
$53,365,770
Assessed 2024
Previous assessed
$52,461,900
+1.7% YoY
Effective rate
10.41%
On assessed value
Assessed land
$9,450,000
Assessed improvement
$43,915,770
Land market value
$21,000,000
Improvement market value
$95,538,000
Total market value
$116,538,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1931
Heating
NONE
Buildings
1
Stories
50
Units
50
Total area
458,300 SF
Lot
0.37 ac (16,300 SF)
Zoning code
C6-6
APN
01305-0060
UPID
US63-0774929
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-6 · New York, NY
Zoning C6-6 · permitted uses
C6-6 · 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
1931
Heating
NONE
Stories
50
Buildings
1
Units
50
Lot
0.37 ac
Current owner
From public records · entity-resolved
Tower 570 Co LP
Entity
Mailing address
7 PENN PLZ #618, NEW YORK, NY 10001-3967
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 15, 2018
—
Tower 570 Co LP
—
Loan Modification, Consolidation And Extension
related
$180,000,000 · Miscellaneous Ins Co
Apr 3, 2008
—
Tower 570 Co
—
Deed Of Trust
related
$115,000,000 · Northwestern Mutual Life Ins
Mar 31, 2008
—
Tower 570 Co
—
Deed Of Trust
related
$45,000,000 · Northwestern Mutual Life Ins
—
—
Schiller Boies
—
Deed Of Trust
related
—
—
—
Rochdale Investment Mgmt LLC
—
Deed Of Trust
related
—
—
—
Real Estate Bd Of New York INC
—
Deed Of Trust
related
—
—
—
Mr Ks Restaurant INC
—
Deed Of Trust
related
—
—
—
Tower 570 Co LP
—
Deed Of Trust
related
$65,000,000 · Miscellaneous Ins Co
—
—
Seiden PC
—
Deed Of Trust
related
—
—
—
Air India Ltd
—
Deed Of Trust
related
—
—
—
Schiphol USA INC
—
Deed Of Trust
related
—
—
—
Brean Murray Carret & Co LLC
—
Deed Of Trust
related
—
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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