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Property profile & analytics
OFF-MARKET
Estimated value
$33,200,000
Warehouses
616-624 11th Ave New York, NY 10036
Entity Owned
~
Est. High Equity
Property ID
US63-2493834
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1950
Total area
14,460 SF
Lot
0.62 ac (27,019 SF)
Zoning code
R8
APN
01074-0063
UPID
US63-2493834
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
$33.20M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$33.20M
Owner & transaction history
The Westline Realty LLC
The Westline Realty LLC
since 2025
Last sale
$33.2M
7 recorded transactions
Zoning & alternative use
R8 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$33.4M
+182.9%
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
$33,200,000
ML approach
$33,200,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$33,425,000
Change: +183% · Conversion: Easy
Blend value · Realmo final
$33.20M
Range $29.88M – $36.52M · ±10% · vs last sale $33.20M (Mar 28 2024)
Last sale anchor
$33.20M
Mar 28 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
$2,296 / 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
$200,618
Tax year 2024
Assessed value
$1,894,050
Assessed 2024
Previous assessed
$1,856,340
+2.0% YoY
Effective rate
10.59%
On assessed value
Assessed land
$562,500
Assessed improvement
$1,331,550
Land market value
$1,250,000
Improvement market value
$3,474,000
Total market value
$4,724,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1950
Heating
NONE
Buildings
1
Stories
1
Units
1
Total area
14,460 SF
Lot
0.62 ac (27,019 SF)
Zoning code
R8
APN
01074-0063
UPID
US63-2493834
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R8 · New York, NY
Zoning R8 · permitted uses
R8 · 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
AUTO REPAIR, GARAGE
Est. value
$33.4M
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
1950
Heating
NONE
Stories
1
Buildings
1
Units
1
Lot
0.62 ac
Current owner
From public records · entity-resolved
The Westline Realty LLC
Entity
Mailing address
59 MONTROSE AVE APT #1, BROOKLYN, NY 11206-1620
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2025
—
The Westline Realty LLC
Eleven W46 Realty LLC
Deed
—
Mar 31, 2025
—
Eleven W46 Realty LLC
—
Deed
related
$3,094,333 · Valley National Bank, As Administrative
Apr 2, 2024
—
Eleven W46 Realty LLC
—
Deed
related
$10,541,000 · Valley National Bank
Mar 28, 2024
$33,200,000
Eleven W46 Realty LLC
616 11th Avenue LLC
Deed
$36,219,000 · Valley National Bank
Oct 8, 2019
—
Westside Realty Of New York INC
—
Loan Modification
related
$117,920,000 · Cmtg Lender 23 LLC
Jan 4, 2019
—
175 Spring Street LLC
—
Loan Modification
related
$130,240,000 · Cmtg Lender 23 LLC
Oct 23, 2018
—
616 11th Avenue LLC
Aricept LLC
Deed
$130,240,000 · Cmtg Lender 23 LLC
Aug 23, 2017
—
Aricept LLC
—
Grant Deed
related
$8,289,360 · Centennial Bk
Jul 16, 2013
—
Aricept LLC
Gans,robert
Grant Deed
related
—
Jun 8, 2006
—
Aricept LLC
—
Deed Of Trust
related
$8,325,000 · North Fork Bank
Feb 24, 2006
—
Aricept LLC
Gans,robert
Grant Deed
related
—
—
—
Aricept LLC
—
Loan Modification
related
$20,000,000 · Doral Bank
—
—
Robert M Gans
—
Deed Of Trust
related
$3,000,000 · North Fork Bank
—
—
Aricept LLC
—
Deed Of Trust
related
$13,663,565 · Doral Bank
—
—
Argo 613 LLC
—
Loan Modification, Consolidation And Extension
related
$75,000,000 · Centennial Bk
—
—
Aricept LLC
—
Deed Of Trust
related
$3,718,162 · North Fork Bank
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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