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Property profile & analytics
OFF-MARKET
Estimated value
$41,410,000
Banks
625 Broadway New York, NY 10012-2611
Entity Owned
~
Est. High Equity
Property ID
US63-6185625
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1896
Total area
78,958 SF
Lot
0.16 ac (6,800 SF)
Zoning code
C6-2G
APN
00523-0046
UPID
US63-6185625
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
-
SALIDO (Bike/Boat/Book/etc) Store Corporate Office
-
Manhattan Car Lease Deals Loan Service Car Dealership
-
Red Peak Branding Advertising Agency Marketing & Advertising
-
Crowdtap Corporate Office
-
Infinity Interactive (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$41.23M
Blend (final)
Blend
$41.41M
Owner & transaction history
5 Canal Owner LLC
5 Canal Owner LLC
since 2025
Last sale
$41.5M
6 recorded transactions
Zoning & alternative use
C6-2G · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$64.5M
+83.2%
Office building
$50.4M
+43.2%
Apartment house (5+ units)
$42.7M
+21.3%
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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$35,210,000
Current use
WAREHOUSE, STORAGE
$64,520,000
Change: +83% · Conversion: Difficult
OFFICE BUILDING
$50,435,000
Change: +43% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$42,725,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$41.41M
Range $37.27M – $45.55M · ±10% · vs last sale $41.50M (Jun 22 2025)
Last sale anchor
$41.50M
Jun 22 2025
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
$524 / 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
$896,989
Tax year 2024
Assessed value
$9,983,202
Assessed 2024
Previous assessed
$8,304,300
+20.2% YoY
Effective rate
8.98%
On assessed value
Assessed land
$1,530,000
Assessed improvement
$8,453,202
Land market value
$3,400,000
Improvement market value
$15,419,000
Total market value
$18,819,000
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
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
1896
Heating
NONE
Buildings
1
Stories
12
Units
13
Total area
78,958 SF
Lot
0.16 ac (6,800 SF)
Zoning code
C6-2G
APN
00523-0046
UPID
US63-6185625
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-2G · New York, NY
Zoning C6-2G · permitted uses
C6-2G · 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
FINANCIAL BUILDING Current
Est. value
$35.2M
WAREHOUSE, STORAGE
Est. value
$64.5M
OFFICE BUILDING
Est. value
$50.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$42.7M
FINANCIAL BUILDING Current
WAREHOUSE, STORAGE
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1896
Heating
NONE
Stories
12
Buildings
1
Units
13
Lot
0.16 ac
Current owner
From public records · entity-resolved
5 Canal Owner LLC
Entity
Mailing address
9 ENTIN RD, PARSIPPANY, NJ 07054-5000
Mailing matches property
Yes
Owner-occupied
Yes
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2025
$41,500,000
5 Canal Owner LLC
625 Broadway Venture, LLC
Deed
$22,500,000 · Israel Discount Bank Of New York
Nov 19, 2012
$10,000
625 Broadway Venture LLC
Referee Of New York County
Trustees Deed
—
Jun 20, 2007
—
625 Broadway Owners LLC
—
Deed Of Trust
related
$53,000,000 · J P Morgan Chase Bank
May 31, 2007
$60,900,000
625 Broadway Owners LLC
625 Broadway LLC
Grant Deed
—
Mar 7, 2006
$36,550,000
625 Broadway LLC
625 Properties Associates
Trustees Deed
related
$20,531,202 · Commerce Bank NA
Mar 7, 2006
—
Commerce Bank NA
—
Trustees Deed
related
$27,750,000 · Commerce Bank NA
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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