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Property profile & analytics
OFF-MARKET
Estimated value
$545,000
Flex space
62 47th St Ste 511a New York, NY 10036-3263
Entity Owned
12-yr Hold
Free & Clear
Property ID
US63-3375364
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1925
Total area
1,031 SF
Zoning code
C6-6
APN
01262-0511
UPID
US63-3375364
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
-
VIVA GEMS USA INC (Bike/Boat/Book/etc) Store
-
Juvelo (Bike/Boat/Book/etc) Store
-
DMJ Casting Inc (Bike/Boat/Book/etc) Store
-
Forever Creations USA (Bike/Boat/Book/etc) Store
-
PPRazzi Wedding Service Photography Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$370k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$413k
Blend (final)
Blend
$545k
Owner & transaction history
Premium Ventures R & E LLC · 12 yrs held
Premium Ventures R & E LLC
since 2014
Last sale
$629,078
1 recorded transaction
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
Method
Estimation
Statistic approach
by Request
ML approach
$370,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$910,000
Change: -5% · Conversion: Difficult
WAREHOUSE, STORAGE
$845,000
Change: -12% · Conversion: Easy
Blend value · Realmo final
$545k
Range $491k – $600k · ±10% · vs last sale $629k (Nov 27 2024)
Last sale anchor
$629k
Nov 27 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
$529 / 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
$26,813
Tax year 2024
Assessed value
$253,147
Assessed 2024
Previous assessed
$241,947
+4.6% YoY
Effective rate
10.59%
On assessed value
Assessed land
$53,823
Assessed improvement
$199,324
Land market value
$119,607
Improvement market value
$509,471
Total market value
$629,078
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1925
Heating
NONE
Buildings
1
Units
1
Total area
1,031 SF
Zoning code
C6-6
APN
01262-0511
UPID
US63-3375364
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-6 · New York, NYZoning 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
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$910,000
WAREHOUSE, STORAGE
Est. value
$845,000
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
Buildings
1
Units
1
Current owner
From public records · entity-resolved
Premium Ventures R & E LLC
Entity
Free & Clear · 12 yrs held
Mailing address
36 CSWY CAUSEWAY, LAWRENCE, NY 11559-1514
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2014
—
Premium Ventures R & E LLC
Famous Bracelet & Chain Mfg Co
Grant 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.
Try Rey
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