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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7 Washington Pl New York, NY 10003-6614

    • Office buildings
    • 9,800 SF
    • 0.06 lot acres
    OFF-MARKET
    Value Estimations
    $110,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US63-5704987
    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.

    Current Use by Public Records

    • NYU Lost and Found - Manhattan / Association / Organization
    • NYU Campus Safety / University
    • NYU Public Safety / Public Safety Office
    • NYU Card Center / Association / Organization

    Property Details for 7 Washington Pl

    Year built
    1900
    Lot size
    0.06 lot acres
    Property size
    9,800 SF
    Zone code
    R7-2
    Property type
    Office buildings
    APN
    00547-0019
    APU
    5470019

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $125,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $100,000
      Market price range: $101k - $258k

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

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9945
    Latitude
    40.7296
    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
    $0.00
    $197,550
    $639,990
    $837,540
    -
    $439,000
    $1,538,000
    $1,977,000

    Comparable in this City

    • Value Estimation
      $270,000
      19,914 SF

      833 Broadway

      OFFICE BUILDING (MULTI-STORY) • 19,914 SF
      833 Broadway, New York, NY 10003-4700
      View Details
    • Value Estimation
      $450,000
      97,020 SF

      409-413 Lafayette St

      OFFICE BUILDING (MULTI-STORY) • 97,020 SF
      409-413 Lafayette St, New York, NY 10003
      View Details
    • Value Estimation
      $110,000
      5,320 SF

      35 19th St

      OFFICE BUILDING (MULTI-STORY) • 5,320 SF
      35 19th St, New York, NY 10003-1359
      View Details
    • Value Estimation by Request
      93,048 SF

      400 Lafayette St

      OFFICE BUILDING (MULTI-STORY) • 93,048 SF
      400 Lafayette St, New York, NY 10003-0078
      View Details
    • Value Estimation
      $5,930,000
      52,192 SF

      30 Cooper Sq

      OFFICE BUILDING (MULTI-STORY) • 52,192 SF
      30 Cooper Sq, New York, NY 10003-7120
      View Details
    • Value Estimation
      $265,000
      15,245 SF

      901 Broadway

      OFFICE BUILDING (MULTI-STORY) • 15,245 SF
      901 Broadway, New York, NY 10003-1205
      View Details

    Similar Nearby for Sale

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      Vacant Retail/Medical/Office Opportunity

      Vacant property suitable for retail, medical, or office use.
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      11,000 SF

      Prime Location Near Union Square

      Located north of Union Square and Broadway pedestrian plaza.
      868 Broadway, New York, NY 10003
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      Lower Fifth Avenue Office Space

      Professional office space in a prime Manhattan location.
      51 5Th Ave, New York, NY 10003
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    Similar Nearby for Lease

    • $51 SF/Yr
      5,254 SF

      Flatiron District Office Space

      Renovated office building in Manhattan's Flatiron District for rent.
      36 W 20Th St, New York, NY 10003
      View Details
    • Contact for pricing
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      Broadway Office Space Available

      22-story office building with 332,000 rentable square feet.
      1431 Broadway, New York, NY 10003
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      Historic Office Building in Manhattan

      12-story Class-C office building in vibrant Midtown location.
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      View Details
    • $35 SF/Yr
      230,000 SF

      Office Space Available For Rent

      Office space available for rent. Contact agent for more information.
      228 E 45Th St, New York, NY 10003
      View Details
    • $30 SF/Yr
      34,292 SF

      Broadway Office Space Available

      53-story office building with 34,292 square feet available for rent.
      1515 Broadway, New York, NY 10003
      View Details
    • Contact for pricing
      5,000 SF

      Flatiron District Office Space Available

      12-story office building in Flatiron District with 24/7 access.
      45 E 20Th St, New York, NY 10003
      View Details
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    7 Washington Pl
    New York, NY 10003-6614
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    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
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