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Property profile & analytics
FOR LEASE
Banks
75 Spring St, New York, NY 10012
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-3561476
For Lease
1 / 2
$21,870,000
75 Spring St, New York, NY 10012
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
1900
Total area
54,800 SF
Lot
0.13 ac (5,562 SF)
Zoning code
M15R7D
APN
00496-0040
UPID
US63-3561476
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
by Request
Blend (final)
Blend
$21.87M
Owner & transaction history
Greystone Realty Spring LLC · 22 yrs held
Greystone Realty Spring LLC
since 2004
3 recorded transactions
Zoning & alternative use
M15R7D · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$35.0M
+43.2%
Apartment house (5+ units)
$29.7M
+21.3%
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
FINANCIAL BUILDING
$24,440,000
Current use
OFFICE BUILDING
$35,005,000
Change: +43% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$29,650,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$21.87M
Range $19.68M – $24.06M · ±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
$399 / 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
$1,289,457
Tax year 2024
Assessed value
$12,173,881
Assessed 2024
Previous assessed
$12,083,091
+0.8% YoY
Effective rate
10.59%
On assessed value
Assessed land
$1,251,000
Assessed improvement
$10,922,881
Land market value
$2,780,000
Improvement market value
$26,023,000
Total market value
$28,803,000
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
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Year built
1900
Heating
NONE
Buildings
1
Stories
9
Units
10
Total area
54,800 SF
Lot
0.13 ac (5,562 SF)
Zoning code
M15R7D
APN
00496-0040
UPID
US63-3561476
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M15R7D · New York, NY
Zoning M15R7D · permitted uses
M15R7D · 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
FINANCIAL BUILDING Current
Est. value
$24.4M
OFFICE BUILDING
Est. value
$35.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$29.7M
FINANCIAL BUILDING Current
OFFICE BUILDING
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
1900
Heating
NONE
Stories
9
Buildings
1
Units
10
Lot
0.13 ac
Current owner
From public records · entity-resolved
Greystone Realty Spring LLC
Entity
Mailing address
30 VESEY ST, NEW YORK, NY 10007-2914
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 16, 2004
—
Greystone Realty Spring LLC
—
Deed Of Trust
related
$8,200,000 · Gmac Commercial Mortgage Corp
—
—
Greystone Realty Spring LLC
—
Deed Of Trust
related
$23,151,207 · Miscellaneous Ins Co
—
—
Greystone Realty Spring LLC
—
Loan Modification, Consolidation And Extension
related
$30,000,000 · Miscellaneous Ins Co
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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