Commercial appraisal FAQ
Answers to what lenders, attorneys and owners ask before ordering a commercial appraisal in New York City or on Long Island.
What types of commercial property does NYCREA appraise?
We appraise multifamily and walk-up apartment buildings, mixed-use buildings, retail and storefronts, office and medical office, industrial and flex buildings, development land, and special-purpose properties such as gas stations, auto dealerships, houses of worship and parking.
What areas do you cover?
We appraise commercial real estate throughout New York City (Manhattan, Brooklyn, Queens, the Bronx and Staten Island) and Long Island (Nassau County and Suffolk County).
Do you prepare date-of-death appraisals for estates?
Yes. We prepare retrospective date-of-death and gift appraisals of commercial property for executors, trustees and estate attorneys.
Can you appraise a property for a tax certiorari case?
Yes. We prepare market value appraisals as of the taxable status date to support assessment challenges in New York City, Nassau County and Suffolk County.
What do I need to provide for a commercial appraisal?
Typically a current rent roll, leases, a trailing 12-month operating statement, a survey or site plan, and a list of recent capital improvements. The exact list depends on the property type and is confirmed when we are engaged.
How much does a commercial appraisal cost and how long does it take?
The fee and delivery date depend on the property type, size, intended use and how quickly documents are available. Send us the property details and we will reply with the scope of work, fee and turnaround before any work begins.
Ready to order an appraisal?
Send the property details and we will reply with scope, fee and turnaround.