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Property profile & analytics
OFF-MARKET
Estimated value
$29,500,000
Office buildings
78 3rd St Brooklyn, NY 11231
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-0825262
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1968
Total area
72,700 SF
Lot
0.77 ac (33,521 SF)
Zoning code
M1-4
APN
00465-0012
UPID
US63-0825262
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
$29.50M
CAP Approach
CAP
$29.77M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$29.50M
Owner & transaction history
92 Third St Gowanus LLC · 1 yrs held
92 Third St Gowanus LLC
since 2024
Last sale
$29.5M
7 recorded transactions
Zoning & alternative use
M1-4 · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$41.3M
+3.1%
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 Brooklyn submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Brooklyn 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
$29,500,000
ML approach
$29,500,000
CAP Approach
CAP Return
Estimation
6%
$32,245,000
6.5%
$29,765,000
7%
$27,640,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$40,020,000
Current use
INDUSTRIAL (GENERAL)
$41,265,000
Change: +3% · Conversion: Difficult
Blend value · Realmo final
$29.50M
Range $26.55M – $32.45M · ±10% · vs last sale $29.50M (Oct 8 2024)
Last sale anchor
$29.50M
Oct 8 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
$406 / 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
$981,510
Tax year 2024
Assessed value
$10,103,400
Assessed 2024
Previous assessed
$10,103,400
+0.0% YoY
Effective rate
9.71%
On assessed value
Assessed land
$301,500
Assessed improvement
$9,801,900
Land market value
$670,000
Improvement market value
$21,782,000
Total market value
$22,452,000
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
1968
Heating
NONE
Buildings
7
Stories
4
Units
4
Total area
72,700 SF
Lot
0.77 ac (33,521 SF)
Zoning code
M1-4
APN
00465-0012
UPID
US63-0825262
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
M1-4 · Brooklyn, NY
Zoning M1-4 · permitted uses
M1-4 · Brooklyn, NY
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Brooklyn. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$40.0M
INDUSTRIAL (GENERAL)
Est. value
$41.3M
OFFICE BUILDING Current
INDUSTRIAL (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
1968
Heating
NONE
Stories
4
Buildings
7
Units
4
Lot
0.77 ac
Current owner
From public records · entity-resolved
92 Third St Gowanus LLC
Entity
Mailing address
240 WATER ST STE #1710, BROOKLYN, NY 11201-1125
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 8, 2024
$29,500,000
92 Third St Gowanus LLC
92 Third Street LLC
Deed
—
Sep 17, 2019
—
Temple Of Restoration
—
Grant Deed
related
$5,609,216 · Citizens Bk NA
Jul 30, 2015
$73,000,000
92 Third Street LLC
Gowanus United LLC
Grant Deed
—
Jul 16, 2014
—
Gowanus United LLC
—
Deed Of Trust
related
$7,280,247 · Hrc Fund V Reit LLC
Feb 10, 2014
$20,340,000
Gowanus United LLC
Team Gowanus LLC
Trustees Deed
related
$3,577,916 · Hrc Fund V Reit LLC
Jun 25, 2008
—
Square One Holding Corp
New York City Indl Developmen
Grant Deed
—
Jun 5, 2008
$12,500,000
Team Gowanus LLC
Square One Holding Corp
Grant Deed
$9,000,000 · Mutual Bank
—
—
Hrc Fund V Reit LLC
—
Loan Modification
$13,500,000 · Gowanus United LLC
—
—
92 Third Street LLC
—
Loan Modification, Consolidation And Extension
related
$42,000,000 · Signature Bk
—
—
92 Third Street LLC
—
Loan Modification, Consolidation And Extension
related
$26,625,000 · Samson Funding Corp
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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