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Property profile & analytics
FOR LEASE
Office buildings
875 3Rd Ave New York, NY 10022
Entity Owned
13-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US63-1521043
For Lease
1 / 2
$4,785,000
875 3Rd Ave, New York, NY 10022
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1982
Total area
634,175 SF
Lot
0.78 ac (33,932 SF)
Zoning code
C6-6
APN
01326-0001
UPID
US63-1521043
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
Current use
Occupant on record · Public records
-
Baskin-Robbins Grocery & Convenience Store Specialty Food Shop
-
The JPB Foundation Association / Organization
-
Kaufman Borgeest & Ryan LLP Law Firm
-
Mark Weinstein Tax Preparation
-
Annette Boglev Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.79M
Owner & transaction history
875 Third Avenue LLC · 13 yrs held
875 Third Avenue LLC
since 2012
7 recorded transactions
Zoning & alternative use
C6-6 · New York, NY
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$8 / 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
$12,293,404
Tax year 2024
Assessed value
$117,494,965
Assessed 2024
Previous assessed
$112,774,500
+4.2% YoY
Effective rate
10.46%
On assessed value
Assessed land
$35,910,000
Assessed improvement
$81,584,965
Land market value
$79,800,000
Improvement market value
$178,118,000
Total market value
$257,918,000
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
1982
Heating
NONE
Buildings
1
Stories
29
Units
29
Total area
634,175 SF
Lot
0.78 ac (33,932 SF)
Zoning code
C6-6
APN
01326-0001
UPID
US63-1521043
Jurisdiction
NEW YORK(MANHATTAN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C6-6 · New York, NY
Zoning C6-6 · permitted uses
C6-6 · 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.
Building & site characteristics
From public records
Year built
1982
Heating
NONE
Stories
29
Buildings
1
Units
29
Lot
0.78 ac
Current owner
From public records · entity-resolved
875 Third Avenue LLC
Entity
Mailing address
1250 BROADWAY #38, NEW YORK, NY 10001-3701
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 20, 2012
—
875 Third Avenue LLC
—
Grant Deed
related
$320,000,000 · Bank Of America
Dec 12, 2005
—
875 Third Avenue LLC
—
Deed Of Trust
related
$55,299,105 · Hsh Nordbank Ag
—
—
875 Third Avenue LLC
—
Loan Modification, Consolidation And Extension
related
$320,000,000 · Bank Of America
—
—
875 Third Avenue LLC
—
Deed Of Trust
related
$13,500,000 · Bank Of America
—
—
Schroder Inv Mgmt North Americ
—
Deed Of Trust
related
—
—
—
Towers Watson Delaware INC
—
Deed Of Trust
related
—
—
—
Mckinsey & Co INC
—
Deed Of Trust
related
—
—
—
Cerebrus Capital Mgmt LP
—
Deed Of Trust
related
—
—
—
Lovells Us LLP Hogan
—
Deed Of Trust
related
—
—
—
875 Third Avenue LLC
—
Deed Of Trust
related
—
—
—
Russo Group LLC
—
Deed Of Trust
related
—
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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