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Property profile & analytics
OFF-MARKET
Estimated value
$9,265,000
Commercial real estate
88-90 Schermerhorn St Brooklyn, NY 11201
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US63-5578595
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Year built
1920
Total area
10,570 SF
Lot
0.08 ac (3,333 SF)
Zoning code
C5-4
APN
00271-0045
UPID
US63-5578595
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
$9.58M
CAP Approach
CAP
$5.91M
Comparable Approach
Comparable
$5.97M
Blend (final)
Blend
$9.27M
Owner & transaction history
88 Schermerhorn Holdings LLC · 3 yrs held
88 Schermerhorn Holdings LLC
since 2022
Last sale
$11.3M
7 recorded transactions
Zoning & alternative use
C5-4 · 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
Method
Estimation
Statistic approach
$11,635,000
ML approach
$9,575,000
CAP Approach
CAP Return
Estimation
6%
$6,395,000
6.5%
$5,905,000
7%
$5,480,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$10,235,000
Current use
AUTO REPAIR, GARAGE
$8,400,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$9.27M
Range $8.34M – $10.19M · ±10% · vs last sale $11.25M (Aug 10 2022)
Last sale anchor
$11.25M
Aug 10 2022
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
$877 / 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
$15,695
Tax year 2024
Assessed value
$304,200
Assessed 2024
Previous assessed
$234,000
+30.0% YoY
Effective rate
5.16%
On assessed value
Assessed land
$304,200
Land market value
$676,000
Total market value
$676,000
Applied tax rate
2.0000
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
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Year built
1920
Heating
NONE
Stories
4
Total area
10,570 SF
Lot
0.08 ac (3,333 SF)
Zoning code
C5-4
APN
00271-0045
UPID
US63-5578595
Jurisdiction
KINGS(BROOKLYN)
Metro division
NEW YORK-WHITE PLAINS-WAYNE, NY-NJ METROPOLITAN DIVISION
Zoning & alternative use
C5-4 · Brooklyn, NY
Zoning C5-4 · permitted uses
C5-4 · 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
COMMERCIAL (GENERAL) Current
Est. value
$10.2M
AUTO REPAIR, GARAGE
Est. value
$8.4M
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
4
Lot
0.08 ac
Current owner
From public records · entity-resolved
88 Schermerhorn Holdings LLC
Entity
Mailing address
5308 13TH AVE #185, BROOKLYN, NY 11219-5198
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 10, 2022
$11,250,000
88 Schermerhorn Holdings LLC
88 Schermerhorn Hotel, LLC
Deed
$2,700,000 · Valley National Bank
Aug 13, 2019
$13,647,512
88 Schermerhorn Hotel LLC
88 Schermerhown Owner LLC
Grant Deed
$7,005,000 · Rerev5 LLC
Oct 16, 2014
$11,000,000
88 Schermerhorn Owner LLC
88 Schermerhorn LLC
Grant Deed
—
Oct 17, 2013
$3,750,000
88 Schermerhorn LLC
Tradition Realty LLC
Deed
—
Nov 4, 2005
$2,266,666
Tradition Realty LLC
Feliciano,valentin
Grant Deed
$875,000 · Greenpoint Mortgage Funding
—
—
88 Schermerhorn Ll
—
Loan Modification
related
$3,100,000 · W Financial Fund LP
—
—
88 Schermerhorn Hotel LLC
—
Loan Modification
related
$7,500,000 · Rerev5 LLC
—
—
88 Schermerhorn Owner LLC
—
Deed Of Trust
related
$495,000 · Rev 5 LLC
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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