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Property profile & analytics
OFF-MARKET
Estimated value
$2,725,000
Investment properties
59 8th Ave 8 Brooklyn, NY 11217-3945
Entity Owned
8-yr Hold
Free & Clear
Property ID
US63-1883677
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1920
Total area
5,500 SF
Lot
0.05 ac (1,980 SF)
Zoning code
R7B
APN
01064-0006
UPID
US63-1883677
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
-
Dr. Mehryar M. Sadeghi, MD Ophthalmologist
-
Manzo Thomas J MD Physician
-
Eye Care Center of Park Slope Ophthalmologist
-
Cara Nemchek LLC Training Center
-
Marie C. Cheung, RPh Pharmacy
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.07M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.73M
Owner & transaction history
Brooklyn 59 LLC · 8 yrs held
Brooklyn 59 LLC
since 2018
2 recorded transactions
Zoning & alternative use
R7B · Brooklyn, 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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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%
$3,330,000
6.5%
$3,070,000
7%
$2,850,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$4,370,000
Change: -4% · Conversion: Difficult
RETAIL STORES
$4,235,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$2.73M
Range $2.45M – $3.00M · ±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
$495 / 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
$34,674
Tax year 2024
Assessed value
$1,236,600
Assessed 2024
Previous assessed
$1,214,550
+1.8% YoY
Effective rate
2.80%
On assessed value
Assessed land
$17,550
Assessed improvement
$1,219,050
Land market value
$39,000
Improvement market value
$2,709,000
Total market value
$2,748,000
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1920
Heating
NONE
Buildings
1
Stories
4
Units
7
Total area
5,500 SF
Lot
0.05 ac (1,980 SF)
Zoning code
R7B
APN
01064-0006
UPID
US63-1883677
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R7B · Brooklyn, NY
Zoning R7B · permitted uses
R7B · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$4.4M
RETAIL STORES
Est. value
$4.2M
AUTO REPAIR, GARAGE
RETAIL STORES
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
1920
Heating
NONE
Stories
4
Buildings
1
Units
7
Lot
0.05 ac
Current owner
From public records · entity-resolved
Brooklyn 59 LLC
Entity
Free & Clear · 8 yrs held
Mailing address
128 WETHERILL RD, GARDEN CITY, NY 11530-3146
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 14, 2018
—
Brooklyn 59 LLC
Stigliano,josephine
Grant Deed
—
Jan 24, 2013
—
Josephine Stigliano
Stigliano Anthony G
Quit Claim Deed
—
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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