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Discretion.

Private Advisory · NDA-first
$1.2B placed
87 closings · zero failed since 2019
Off-market only
No flyer · no tour · no CoStar
By Introduction Only

The discreet side of New York real estate.

NDA-first. By introduction only. The best deals in New York have never been on a screen, they've been on the phone with someone who knew the building, the owner, and the right price.

Owner-side advisory
Pre-market valuation, NDA-first placement, 2–4 vetted buyers. No retainer. No exclusivity until you decide.
Buy-side mandates
Discreet off-market mandate for funds, family offices, and operators deploying $20M+ this cycle. Two-week exclusive on every deal.
Capital intro
Looking to refinance, acquire a new property, or fund renovations? Our advisory team will connect you with the right capital source for your project.
$1.2Bplaced · 12 years
87closings
0failed closings since 2019
NDA-first · by introduction only
The thesis

Public listings are the
consolation prize.

Every meaningful NYC multifamily trade follows the same script. An owner mentions, casually, to a trusted contact that they're thinking about it. A short list is built. Two or three calls go out. A price is agreed. Papers are drawn. The brokers and the LoopNet listings exist only to clean up what didn't move privately.

Realo Advisory is the modern version of that conversation. We've placed $1.2B of NYC multifamily over the last decade. NDA-first. No flyers. No tours. No CoStar.

The owners who use Realo's platform tell us what's coming six to eighteen months before the market sees it. The vetted investors in our network deploy capital quietly and close fast. When the two sides match, the trade happens — and then a press release, much later, calls it "off-market."

Mandate.
Three lines of work · One desk
Owner-side advisory

Sell-side. Quiet.

You're thinking about it. Maybe in two months, maybe in a year. We have the conversation now — at the kitchen table, on Zoom, or at the steakhouse on East 56th. No retainer. No exclusivity until you decide.

Pre-market valuation

We tell you what your building is worth before you tell anyone you're thinking about it. Modeled across in-place, pro forma, and three buyer-class scenarios.

Short-list placement

When you're ready, we curate 2–4 buyers from our vetted network. NDA-first. No listing flyer. The building never appears on Crexi.

Fee transparency

Standard advisory fee. Disclosed upfront. No double-ending. No undisclosed buyer-side rebates. Clean.

Buy-side mandates

Capital deployed quietly.

You're deploying $20M+ this cycle. You don't want to bid against the same five family offices on every CoStar listing. We build you a discreet, off-market mandate — sized to your check, your submarket, and your risk tolerance.

Exclusive look

Two-week exclusive on every deal we source. If you pass, the deal moves to the next investor. If you proceed, no auction.

Diligence package included

Realo's underwriting tool comes free with any active mandate. Comps, rent roll forensics, HSTPA exposure, LL97 projections — done before you see the file.

Capital intro to lenders

Bridge, agency, life-co. We've placed $400M+ in debt alongside acquisitions. Quiet introductions to lenders who quote without leaking to brokers.

REALOHomeCompsBuildingsReportsDeal RoomOutreachLead InboxReferralsrealocre1685 1 AVENUE, New York, NY, USA27 units · C7 · Manhattan · BBL1015500025← NewInputsMapReportsSave ▾6.5/10ConditionalDeal ScoreAsking Price$4.88MPrice / Unit$181K27 unitsCap Rate5.83%PF 6.43%DSCR1.22×PF 1.35×↗ Key Strengths79% free-market units (23 of 27 residential) with clear upside:FM 1BR averaging $3,269 vs. $3,750 market, 2BR $4,041 vs. $4,650market, creating $8,379/month ($100,548/year) upside gap on leaserollovers without capital investmentStrong commercial income stability:Two ground-floor retail tenants (Sebastian Cafe, ConMigo) withleases extending to May 2034 and March 2034, generating$207,528 annually with 3% annual escalationsCondominium-quality construction:Stainless appliances, marble countertops, and boutique finishesthroughout, reducing deferred maintenance riskPrime Upper East Side location:40' avenue frontage on First Avenue in Yorkville, strong transitaccess, and neighborhood fundamentals supporting rent growth↘ Key RisksHSTPA 2019 exposure:Pre-1974 building (1915) with 6+ units subjects all 4 rent-stabilized units to permanent regulation with limited rent increasepotential (RGB-controlled), capping upside on 15% of residentialLocal Law 97 carbon penalty risk:1915 pre-war building with gas heating ($36,000/year fuel/gasexpense) likely faces carbon emissions penalties starting 2024-2030 compliance periodNegative leverage risk:Proposed 5.75% loan rate vs. 6.01% in-place cap rate createsminimal spread; any NOI underperformance erodes returnsTax reset risk on sale:Current taxes $279,630 based on $2.44M assessment vs. $18.5Msale price; reassessment could increase taxes 30-50%✨ Executive Summary1685 First Avenue is a 29-unit (27 residential, 2 commercial) pre-war mixed-use building in Yorkville, Manhattan, offered at $18,500,000 ($638k/unit, $1,095/SF). Builtin 1915 on a 4,025 SF lot (40.25' x 100') with 16,889 SF of building area, the property features 23 free-market units (79%), 4 rent-stabilized units (15%), and twoground-floor retail tenants with long-term leases extending to 2034. The building is R10/C1-5 zoned with 6 stories and has been renovated to condominium-qualitystandards with stainless appliances and marble countertops. Current in-place NOI of $1,112,974 yields a 6.01% cap rate; broker pro forma NOI of $1,224,395 projects6.62%. With proposed financing of $12.5M at 5.75% over 30 years, the deal delivers a 1.26× DSCR and 5.67% cash-on-cash return. The property shows minimaldistress (1 eviction, zero open violations, 50 closed HPD violations, 2 resolved ECB violations totaling $6,250 in penalties). Strong free-market concentration, stablecommercial income, and modest upside from below-market FM units provide a solid foundation, though pre-war vintage (1915) triggers HSTPA rent regulation riskand Local Law 97 carbon compliance concerns.
Twelve years · $1.2B placed

The best deals in New York have never been on a screen.
They've beenon the phone.

Request Introduction →By introduction only · NDA-first
Recent transactions · anonymized

Selected work.

Listed below with addresses redacted and amounts rounded — full references provided after NDA.

● Closed · Q3 2025
UES walk-up portfolio
94 units · 4 buildings · MN
Price$45M
Cap5.4%
Days · LOI to close61
Buyers contacted3
● Closed · Q1 2025
Williamsburg mixed-use
38 units + 4 retail · BK
Price$22.8M
Cap5.85%
Days · LOI to close49
Buyers contacted2
● Closed · Q4 2024
Astoria 6-unit
6 units · QN
Price$3.4M
Cap6.1%
Days · LOI to close34
Buyers contacted1

Twelve years · 87 closings · $1.2B total volume · zero failed closings since 2019

Clients

Discreet. Defensible. Done.

"I'd owned the buildings for thirty-one years. I didn't want a flyer in every broker's inbox. Realo placed all four to one buyer in nine weeks. My tenants never knew."

RB
R. Bernardi
Seller · UES portfolio · 2025

"They brought me three buildings I would never have seen otherwise. Real diligence package. No phantom bidders. We closed two of the three within a quarter."

HM
H. Marchetti
Buyer · Acquisitions · 2024

"I'm an estate attorney. Two of my clients sold through Realo Advisory last year. Both said it was the smoothest transaction of their lives. That's the highest praise."

SL
S. Lipsitz, Esq.
T&E Counsel · Manhattan
Get in touch

By introduction
only.

Two ways to start a conversation — both NDA-first, both private.

PATH 01 · OWNER-SIDE

Thinking about selling?
Quiet conversation first.

No retainer. No exclusivity. We'll pull the file, run the comps, and tell you what your building is worth — long before you tell anyone else. NDA in your inbox within 24 hours.

Request Introduction →
PATH 02 · BUY-SIDE

Deploying $20M+ this cycle?
Off-market mandate.

If you're a fund, family office, or operator deploying $20M+ in NYC multifamily over the next 12 months, we'll build you a quiet mandate. References on request.

Request Mandate Brief →