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Property profile & analytics
OFF-MARKET
Estimated value
$159,435,000
Office buildings
653 Madison Ave 655, New York, NY 10065-8041
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-3103512
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1951
Total area
198,347 SF
Lot
0.25 ac (10,946 SF)
Zoning code
C5-3
APN
01375-0021
UPID
US63-3103512
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
$159.44M
CAP Approach
CAP
$101.92M
Comparable Approach
Comparable
$176.09M
Blend (final)
Blend
$159.44M
Owner & transaction history
655 Madison LLC · 1 yrs held
655 Madison LLC
since 2024
Last sale
$159.4M
5 recorded transactions
Zoning & alternative use
C5-3 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$260.8M
+105.9%
Commercial (general)
$201.5M
+59.1%
Warehouse, storage
$162.1M
+27.9%
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
$159,435,000
ML approach
$159,435,000
CAP Approach
CAP Return
Estimation
6%
$110,415,000
6.5%
$101,920,000
7%
$94,640,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$126,695,000
Current use
RETAIL STORES
$260,840,000
Change: +106% · Conversion: Moderate
COMMERCIAL (GENERAL)
$201,545,000
Change: +59% · Conversion: Easy
WAREHOUSE, STORAGE
$162,085,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$107,325,000
Change: -15% · Conversion: Easy
Blend value · Realmo final
$159.44M
Range $143.49M – $175.38M · ±10% · vs last sale $159.43M (Oct 16 2024)
Last sale anchor
$159.43M
Oct 16 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
$804 / 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
$5,663,627
Tax year 2024
Assessed value
$55,396,770
Assessed 2024
Previous assessed
$55,396,770
+0.0% YoY
Effective rate
10.22%
On assessed value
Assessed land
$18,001,800
Assessed improvement
$37,394,970
Land market value
$40,004,000
Improvement market value
$78,820,000
Total market value
$118,824,000
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1951
Heating
NONE
Buildings
1
Stories
24
Units
40
Total area
198,347 SF
Lot
0.25 ac (10,946 SF)
Zoning code
C5-3
APN
01375-0021
UPID
US63-3103512
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C5-3 · New York, NY
Zoning C5-3 · permitted uses
C5-3 · 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
OFFICE BUILDING Current
Est. value
$126.7M
RETAIL STORES
Est. value
$260.8M
COMMERCIAL (GENERAL)
Est. value
$201.5M
WAREHOUSE, STORAGE
Est. value
$162.1M
APARTMENT HOUSE (5+ UNITS)
Est. value
$107.3M
OFFICE BUILDING Current
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1951
Heating
NONE
Stories
24
Buildings
1
Units
40
Lot
0.25 ac
Current owner
From public records · entity-resolved
655 Madison LLC
Entity
Mailing address
805 3RD AVE FL, NEW YORK, NY 10022-7513
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 16, 2024
$159,433,333
655 Madison LLC
Plaza Madison LLC
Deed
$150,000,000 · 655 Madison Debt Lender LLC
Sep 16, 2013
—
Plaza Madison LLC
Plaza Madison Associates
Quit Claim Deed
$62,208,339 · John Hancock Life Insurance Co
Mar 30, 2007
—
Plaza Madison Associates
Plaza Madison LLC
Quit Claim Deed
related
$15,750,000 · John Hancock Life Insurance Co
—
—
Plaza Madison LLC
—
Loan Modification
related
$100,000,000 · John Hancock Life Insurance Co
—
—
Oc Intl LLC
—
Deed Of Trust
related
—
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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