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Property profile & analytics
FOR LEASE
Office buildings
81-83 Court St Brooklyn, NY 11201
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US63-3624762
For Lease
1 / 2
$9,375,000
81-83 Court St, Brooklyn, NY 11201
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1920
Total area
15,000 SF
Lot
0.05 ac (2,162 SF)
Zoning code
C62A
APN
00269-0027
UPID
US63-3624762
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
$10.11M
CAP Approach
CAP
$6.14M
Comparable Approach
Comparable
$7.62M
Blend (final)
Blend
$9.38M
Owner & transaction history
Investors Court Street, LLC · 5 yrs held
Investors Court Street, LLC
since 2020
Last sale
$11.5M
1 recorded transaction
Zoning & alternative use
C62A · Brooklyn, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$14.5M
+75.9%
Auto repair, garage
$11.9M
+44.3%
Apartment house (5+ units)
$9.7M
+17.6%
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
by Request
ML approach
$10,105,000
CAP Approach
CAP Return
Estimation
6%
$6,655,000
6.5%
$6,140,000
7%
$5,700,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$8,255,000
Current use
COMMERCIAL (GENERAL)
$14,530,000
Change: +76% · Conversion: Easy
AUTO REPAIR, GARAGE
$11,920,000
Change: +44% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$9,710,000
Change: +18% · Conversion: Easy
INDUSTRIAL (GENERAL)
$8,515,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$7,520,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$9.38M
Range $8.44M – $10.31M · ±10% · vs last sale $11.50M (Nov 30 2020)
Last sale anchor
$11.50M
Nov 30 2020
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
$625 / 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
$137,355
Tax year 2024
Assessed value
$1,388,250
Assessed 2024
Previous assessed
$1,481,850
-6.3% YoY
Effective rate
9.89%
On assessed value
Assessed land
$193,950
Assessed improvement
$1,194,300
Land market value
$431,000
Improvement market value
$2,654,000
Total market value
$3,085,000
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
For Lease
Year built
1920
Heating
NONE
Buildings
1
Stories
6
Units
7
Total area
15,000 SF
Lot
0.05 ac (2,162 SF)
Zoning code
C62A
APN
00269-0027
UPID
US63-3624762
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C62A · Brooklyn, NY
Zoning C62A · permitted uses
C62A · 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
$8.3M
COMMERCIAL (GENERAL)
Est. value
$14.5M
AUTO REPAIR, GARAGE
Est. value
$11.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$9.7M
INDUSTRIAL (GENERAL)
Est. value
$8.5M
WAREHOUSE, STORAGE
Est. value
$7.5M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
WAREHOUSE, STORAGE
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
1920
Heating
NONE
Stories
6
Buildings
1
Units
7
Lot
0.05 ac
Current owner
From public records · entity-resolved
Investors Court Street, LLC
Entity
Mailing address
81 CT ST, BROOKLYN, NY 11201-5003
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2020
$11,500,000
Investors Court Street, LLC
Brooklyn Federal Savings & Loan Ass
Deed
$9,000,000 · Bcb Community Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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