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Property profile & analytics
OFF-MARKET
Estimated value
$1,715,000
Medical Office Space
681-685 Lexington Ave New York, NY 10022
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US63-3007236
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL CLINIC
Year built
2018
Total area
135,689 SF
Lot
0.21 ac (9,275 SF)
Zoning code
C52.5
APN
01311-0020
UPID
US63-3007236
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.72M
Blend (final)
Blend
$1.72M
Owner & transaction history
139 East 56th Street Landlord LLC · 10 yrs held
139 East 56th Street Landlord LLC
since 2016
6 recorded transactions
Zoning & alternative use
C52.5 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.9M
+39.2%
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
MEDICAL BUILDING
$1,365,000
Current use
OFFICE BUILDING
$1,900,000
Change: +39% · Conversion: Easy
Blend value · Realmo final
$1.72M
Range $1.54M – $1.89M · ±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
$13 / 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
$2,105,643
Tax year 2024
Assessed value
$19,879,560
Assessed 2024
Previous assessed
$19,220,310
+3.4% YoY
Effective rate
10.59%
On assessed value
Assessed land
$3,735,000
Assessed improvement
$16,144,560
Land market value
$8,300,000
Improvement market value
$39,732,000
Total market value
$48,032,000
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
Medical Office Space
Use group
MEDICAL CLINIC
Status
Off-Market
Year built
2018
Heating
NONE
Buildings
1
Stories
17
Units
151
Total area
135,689 SF
Lot
0.21 ac (9,275 SF)
Zoning code
C52.5
APN
01311-0020
UPID
US63-3007236
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C52.5 · New York, NY
Zoning C52.5 · permitted uses
C52.5 · 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
MEDICAL BUILDING Current
Est. value
$1.4M
OFFICE BUILDING
Est. value
$1.9M
MEDICAL BUILDING Current
OFFICE BUILDING
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
2018
Heating
NONE
Stories
17
Buildings
1
Units
151
Lot
0.21 ac
Current owner
From public records · entity-resolved
139 East 56th Street Landlord LLC
Entity
Mailing address
4500 DORR ST, TOLEDO, OH 43615-4040
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
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
Apr 28, 2016
$54,015,500
139 East 56th Street Landlord LLC
681lex Land, L P
Deed
$3,760,234 · Wells Fargo Bank, National Association
Mar 15, 2012
—
681 Lex Land LP
—
Grant Deed
related
$8,500,000 · Capital One
Feb 2, 2009
—
681lex Land
—
Deed Of Trust
related
$8,036,145 · Independence Community Realty
Jan 6, 2009
—
462bdwy Land
—
Deed Of Trust
related
$5,819,277 · Independence Community Realty
—
—
681lex Land LP
—
Deed Of Trust
related
$3,358,108 · Capital One
—
—
12w21 Land LP
—
Loan Modification, Consolidation And Extension
related
$55,999,900 · Manufacturers & Traders Tr
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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