AI Valuation

Vertical value, fully explained.

1400 Broadway · New York, NY
Aggregate Value
$116.9M
Air Rights Value
$41.2M
148,000 sf × $278/sf median receiving zone comp
Rooftop Lease Value
$1.87M NPV
12,400 sf clear span · 10-yr DCF at 8.5%
Solar Lease Value
$3.42M NPV
450 kW system · PPA $0.087/kWh · 20-yr
Telecommunications Value
$16.4M NPV
3 carrier stack · $180k avg · 20-yr
Development Rights
$54M residual
IRR 14.8% · GDV $412M · $186M costs
Highest & Best Use
Mixed-use vertical addition
22-story residential + retail base
Comparable transactions
1122 6th Ave
Air Rights · 62,000 sf
$184/sf
May 2026
220 W 45th St
Air Rights · 48,200 sf
$212/sf
Feb 2026
1500 Broadway
Rooftop Telecom · 3 carriers
$1.62M/yr
Jan 2026
45 W 42nd St
Development Rights · 112,000 sf
$286/sf
Nov 2025
620 8th Ave
Rooftop Solar · 410 kW
$3.1M NPV
Sep 2025
Sensitivity analysis
Discount rate
7.5%
8.5% (base)
9.5%
Construction cost / sf
$820
$895 (base)
$970
Rent PSF (residential)
$118
$132 (base)
$146
MIH bonus achieved
No
Yes (base)
Yes + subway bonus
Assumptions & evidence
  • SNX subarea receiving-zone eligibility confirmed
  • MIH voluntary +1.0 FAR bonus achievable
  • Comparable TDR trades within last 18 months
  • Solar ITC + accelerated depreciation applied
  • 3-carrier rooftop stack absorbable within 24 months
  • Environmental Phase I clean; Phase II not required
Informational only. AI valuations are estimates. Executed transactions require MAI appraisal, counsel and market verification.