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Property profile & analytics
OFF-MARKET
Estimated value
$24,185,000
Office buildings
88 3rd Ave Brooklyn, NY 11217-2314
Entity Owned
11-yr Hold
~
Est. High Equity
Property ID
US63-3169379
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1925
Total area
100,000 SF
Lot
1 ac (43,500 SF)
Zoning code
R6A
APN
00197-0028
UPID
US63-3169379
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
-
GUN. STATION Community Center
-
Arvind Apartment Building
-
New York City Income Support City Government Office
-
New York City Human Resources City Government Office
-
New Party Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$24.19M
Owner & transaction history
88 Third Avenue Realty LLC · 11 yrs held
88 Third Avenue Realty LLC
since 2014
2 recorded transactions
Zoning & alternative use
R6A · Brooklyn, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$242 / 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
$838,600
Tax year 2024
Assessed value
$7,917,300
Assessed 2024
Previous assessed
$9,539,550
-17.0% YoY
Effective rate
10.59%
On assessed value
Assessed land
$684,000
Assessed improvement
$7,233,300
Land market value
$1,520,000
Improvement market value
$16,074,000
Total market value
$17,594,000
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
1925
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
100,000 SF
Lot
1 ac (43,500 SF)
Zoning code
R6A
APN
00197-0028
UPID
US63-3169379
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
R6A · Brooklyn, NY
Zoning R6A · permitted uses
R6A · 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.
Building & site characteristics
From public records
Year built
1925
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
1 ac
Current owner
From public records · entity-resolved
88 Third Avenue Realty LLC
Entity
Mailing address
88 3RD AVE, BROOKLYN, NY 11217-2314
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 22, 2014
—
88 Third Avenue Realty LLC
88 Third Ave LLC
Deed
$5,348,542 · Ubs Real Estate Securities INC.
—
—
88 Third Avenue Realty LLC
—
Loan Modification, Consolidation And Extension
related
$30,650,000 · Ubs R/e Secs
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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