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Property profile & analytics
OFF-MARKET
Estimated value
$4,620,000
Apartment buildings
647 172nd St, New York, NY 10032-1823
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-3054485
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1917
Total area
25,400 SF
Lot
0.17 ac (7,294 SF)
Zoning code
R8
APN
02142-0095
UPID
US63-3054485
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
-
647 Associates LLC Apartment Building Professional Services
-
Ms. Wandi's NeighborSchool Daycare Center
-
Pee Wee Playhouse Group Family Childcare Daycare Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.44M
Blend (final)
Blend
$4.62M
Owner & transaction history
647 Associates LLC · 9 yrs held
647 Associates LLC
since 2017
4 recorded transactions
Zoning & alternative use
R8 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.4M
+96.5%
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
APARTMENT HOUSE (5+ UNITS)
$3,740,000
Current use
COMMERCIAL (GENERAL)
$7,350,000
Change: +97% · Conversion: Moderate
Blend value · Realmo final
$4.62M
Range $4.16M – $5.08M · ±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
$182 / 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
$160,713
Tax year 2024
Assessed value
$1,285,500
Assessed 2024
Previous assessed
$1,308,239
-1.7% YoY
Effective rate
12.50%
On assessed value
Assessed land
$102,600
Assessed improvement
$1,182,900
Land market value
$228,000
Improvement market value
$2,804,000
Total market value
$3,032,000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1917
Heating
NONE
Buildings
1
Stories
5
Units
31
Total area
25,400 SF
Lot
0.17 ac (7,294 SF)
Zoning code
R8
APN
02142-0095
UPID
US63-3054485
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
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$7.4M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
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
1917
Heating
NONE
Stories
5
Buildings
1
Units
31
Lot
0.17 ac
Current owner
From public records · entity-resolved
647 Associates LLC
Entity
Mailing address
369 E 62ND ST, NEW YORK, NY 10065-7705
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 16, 2017
—
647 Associates LLC
—
Deed
related
$4,000,000 · Amalgamated Bk
—
—
647 Associates LLC
—
Deed Of Trust
related
$1,886,441 · Customers Bank
—
—
647 Associates LLC
—
Deed Of Trust
related
$2,680,000 · Customers Bank
—
—
647 Associates LLC
—
Loan Modification, Consolidation And Extension
related
$4,000,000 · Amalgamated Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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