Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    631 2nd Ave New York, NY 10016-4863
    Property profile & analytics

    631 2nd Ave New York, NY 10016-4863

    View on Map
    • Retail residential properties
    • 4,000 SF
    • 0.03 lot acres
    Off-Market
    Property ID
    US63-0854604
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,215,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • East 35 News Inc / (Bike/Boat/Book/etc) Store
    • Synetech Consulting, LLC / Employment Agency
    • Diamond News Inc. / Publishing House / Newspaper & Magazine

    Property Details for 631 2nd Ave

    Year built
    1910
    Lot size
    0.03 lot acres
    Property size
    4,000 SF
    Zone code
    C19A
    Property type
    Retail residential properties
    APN
    00915-0031
    APU
    9150031

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9759
    Latitude
    40.7452
    CBSA code
    35620
    CBSA name
    NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $60,785
    $202,698
    $283,507
    $486,205
    -
    $898,000
    $1,256,000
    $2,154,000

    Comparable in this City

    • Value Estimation
      $2,440,000
      6,865 SF

      440 3rd Ave

      STORES & APARTMENTS • 6,865 SF
      440 3rd Ave, New York, NY 10016-6041
      View Details
    • Value Estimation
      $9,795,000
      30,800 SF

      382 3rd Ave

      STORES & APARTMENTS • 30,800 SF
      382 3rd Ave, New York, NY 10016-9011
      View Details
    • Value Estimation
      $4,125,000
      12,700 SF

      417 3rd Ave

      STORES & APARTMENTS • 12,700 SF
      417 3rd Ave, New York, NY 10016-8174
      View Details
    • Value Estimation
      $3,280,000
      8,425 SF

      495 3rd Ave

      STORES & APARTMENTS • 8,425 SF
      495 3rd Ave, New York, NY 10016-4856
      View Details
    • Value Estimation
      $5,835,000
      351,560 SF

      471 3rd Ave

      STORES & APARTMENTS • 351,560 SF
      471 3rd Ave, New York, NY 10016-6021
      View Details
    • Value Estimation
      $30,005,000
      110,949 SF

      108 38th St, Unit 114

      STORES & APARTMENTS • 110,949 SF
      108 38th St, New York, NY 10016-2648
      View Details

    Similar Nearby for Sale

    • $4,999,950
      6,005 SF

      Midtown Manhattan Multifamily Property

      Multifamily property near Grand Central Terminal with redevelopment potential.
      113 E 39Th St, Manhattan, NY 10016
      View Details
    • New
      $10,950,000
      8,141 SF

      Double Wide Murray Hill Townhouse

      Four-story mixed-use property in prime Manhattan location.
      223-225 East 31St St, New York, NY 10016
      View Details
    • Contact for pricing
      43,320 SF

      Manhattan Mixed-Use Corner Property

      Prime mixed-use property in vibrant Manhattan neighborhood.
      587 1St Ave, New York, NY 10016
      View Details
    • Contact for pricing

      Kips Bay Mixed-Use Investment

      93% deregulated mixed-use property in prime Kips Bay location.
      212 E 29Th St, New York, NY 10016
      View Details
    • $3,300,000

      Mixed-Use Asset in Kips Bay

      Mixed-use property in Kips Bay with seven units.
      575 2Nd Ave, New York, NY 10016
      View Details
    • Contact for pricing
      17,500 SF

      Chelsea Mixed-Use Building for Sale

      Seven-story mixed-use building in Chelsea with retail and office space.
      242 W 27Th St, New York, NY 10016
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Midtown Retail Opportunity Near Landmarks

      Retail space in Midtown, close to transportation and major landmarks.
      232 Madison Ave, New York, NY 10016
      View Details
    • Contact for pricing

      Retail Space Near Grand Central

      Retail space with high foot traffic near Grand Central Station.
      124 E 40Th St, New York, NY 10016
      View Details
    • Contact for pricing

      Retail Space in Murray Hill

      Retail space available in vibrant Murray Hill / Midtown South.
      543 3Rd Ave, New York, NY 10016
      View Details
    • Contact for pricing

      Manhattan Office Building for Rent

      Classic architecture and contemporary amenities in a thriving Manhattan location.
      261 5Th Ave, New York, NY 10016
      View Details
    • Contact for pricing

      NoMad Creative Office Space

      Creative office space in Midtown South's vibrant NoMad neighborhood.
      37 E 28Th St, New York, NY 10016
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    631 2nd Ave
    New York, NY 10016-4863
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    631 2nd Ave, New York, NY, 10016
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!