Office building · Grand Central, Manhattan
10 East 40th Street
New York, NY 10016
10 East 40th Street is a 48-floor office building in Grand Central, Manhattan, built in 1928, with about 409,000 square feet of office space according to city records.
Also at 7-11 East 39th Street and 8-14 East 40th Street.
- Office space
- 409K SF
- Floors
- 48
- Year built
- 1928
- Zoning
- C5-2.5
The 27th largest of the 83 office buildings we track in Grand Central. Compare it with 6 neighbors
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Compared with its neighbors
How 10 East 40th Street compares
Next to the 6 nearest large office buildings, all within a 1 minute walk, 10 East 40th Street is the largest by office floor area. It went up in 1928; the median neighbor dates from 1918. Its estimated property tax, about $10.01 a square foot of floor area before abatements, is close to the neighbors' median of $10.14.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 10 East 40th Street | 409K SF | 48 | 1928 | $10.01 | n/a |
| 16 East 40th Street | 83K SF | 12 | 1911 | $8.57 | Jan 2005, $18.7M |
| 270 Madison Avenue | 156K SF | 19 | 1923 | $16.28 | n/a |
| 274 Madison Avenue | 85K SF | 19 | 1927 | $9.75 | n/a |
| 278 Madison Avenue | 68K SF | 14 | 1930 | $7.06 | n/a |
| 7 East 40th Street | 78K SF | 18 | 1913 | $10.56 | Apr 2018, $70.3M |
| 15 East 40th Street | 51K SF | 12 | 1913 | $10.53 | n/a |
Sources: NYC Department of City Planning, PLUTO 26v2 for size, floors and year built; NYC Department of Finance 2026/27 roll for tax (taxable value times the class rate, before abatements, over the whole floor area); ACRIS for the last deed that moved the whole lot for a real price (a price for several lots is their combined price; condominiums sell by the unit and show n/a). Large means at least 35,000 SF of the building's main use. Walking times are straight-line estimates.
NYC tax lot records
Building facts
- Other addresses
- 7-11 East 39th Street; 8-14 East 40th Street
- ZIP code
- 10016
- Building type
- Office building (city class O4)
- Total floor area
- 442,042 SF
- Commercial floor area
- 442,042 SF
- Office
- 409,090 SF
- Retail
- 32,952 SF
- Height
- 48 floors
- Average floor
- About 9,200 SF (floor area divided by floors)
- Year built
- 1928
- Last major alteration
- 2008
- Lot area
- 14,714 SF
- Zoning district
- C5-2.5
- Built FAR
- 30.04
- Max commercial FAR
- 12
- Tax lot (BBL)
- 1008690066
Nearest subway
- Grand Central-42 St
- 5 Av
- Times Sq-42 St
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-16; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-16. Floor areas are the city's estimates for the whole building, not available space. Walking times are straight-line estimates. How we build these pages. Something wrong on this page? Tell us.
NYC Department of Finance records
Owner, property tax and assessed value
The Department of Finance lists ROBNET 40TH STREET as the owner of record. For tax year 2026/27 the city values 10 East 40th Street at $92.8 million and assesses it at $41.8 million. After phase-ins and exemptions its taxable value is $40.8 million; at the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists) that comes to about $4.42 million a year before abatements, roughly $10.01 per square foot of floor area. Commercial leases here often pass a tenant's share of tax increases over a base year through as additional rent.
- Owner of record
- ROBNET 40TH STREET
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $92,832,000
- Land market value
- $27,500,000
- Assessed value
- $41,774,400
- Taxable value (phased in)
- $40,787,910
- Estimated yearly tax
- About $4.42 million
- Tax per SF of floor area
- About $10.01
City market value by tax year
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How to find who owns any NYC buildingSource: NYC Department of Finance, Property Valuation and Assessment Data (2026/27 roll; owner names as the roll records them, which cuts some long names short), pulled 2026-10-16; tax rate from the Department of Finance tax rates page, checked 2026-09-28. The estimate is the taxable value times the class rate. It leaves out abatements, payment-in-lieu-of-taxes agreements and charges, so the actual bill can differ.
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SEC filings (EDGAR)
Companies with offices here
2 public companies give 10 East 40th Street as their office address in SEC filings.
Public companies
Source: U.S. Securities and Exchange Commission, EDGAR, Financial Statement Data Sets (2025 Q4 to 2026 Q3) and Form 13F Data Sets (through August 2026), pulled 2026-10-24; names as filed. The address is the one each company reports to the SEC. This is not a tenant roster: private companies and most smaller firms do not file with the SEC, a company can report a building it owns, and an address can trail a move by a quarter. Care-of addresses, blank check companies and asset-backed issuers are left out.
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NYC energy benchmarking (Local Law 84)
Energy score, grade and emissions
10 East 40th Street reported an ENERGY STAR score of 66 out of 100 for 2024 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns a C (55 to 69). Its site energy use came to 75 kBtu per square foot, 20% below the national median of 93.3 for a similar property. Its greenhouse gas emissions were about 2,915 metric tons of CO2e (6.78 kg per square foot).
- ENERGY STAR score (2024)
- 66 of 100
- Grade this score earns (Local Law 33)
- C (55 to 69)
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 75 kBtu/SF
- National median for the type
- 93.3 kBtu/SF
- Greenhouse gas emissions
- 2,915 t CO2e
- Emissions per SF
- 6.78 kg CO2e
- Floor area in the filing
- 430,070 SF
ENERGY STAR score by year
Energy sources in 2024
Source: NYC Department of Buildings and Mayor's Office of Climate and Environmental Justice, NYC Building Energy and Water Data Disclosure for Local Law 84 (2024 filing), pulled 2026-10-16; grade cutoffs from the Department of Buildings energy grades page. Figures are as the owner filed them in ENERGY STAR Portfolio Manager. The grade is the one the filed score earns under the law's cutoffs; the Department of Buildings assigns the grade a building posts, which can differ.
Local Law 97 of 2019, estimated
Local Law 97 emissions limit
At its 2024 energy use, 10 East 40th Street comes to about 2,081 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 3,235 tons for 2024 to 2029 (64% of the limit), so it would owe no penalty. From 2030 the limit drops to 1,143 tons and the same energy use counts as about 1,382 tons, about 239 tons over, or an estimated $64,000 a year unless the building cuts its emissions.
- Period
- 2024 to 2029
- Emissions limit
- 3,235 t CO2e
- Estimated emissions
- 2,081 t CO2e
- Under the limit by
- 1,154 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 1,143 t CO2e
- Estimated emissions
- 1,382 t CO2e
- Over the limit by
- 239 t CO2e
- Estimated penalty a year
- $64,000
Estimated from the owner's 2024 Local Law 84 filing, which reports energy by source and floor area by use: K-12 School 29,990 SF; Office 400,080 SF. It applies the coefficients and per-use limits in Department of Buildings rule 1 RCNY 103-14 and Administrative Code 28-320.3.1.1 (as the Department lists them) and the $268 per ton penalty, checked 2026-10-04. It is not the building's Local Law 97 report: that report can count renewable energy credits, solar and storage deductions and, for 2024 and 2025, the law's occupancy group limits where higher, and penalties can be reduced for good faith efforts.
Change these numbers in the Local Law 97 calculator to see what a cut in energy use would do to the penalty.
How Local Law 97 works: who is covered, the 2030 limits and what owners, tenants and buyers should check.
Own or manage 10 East 40th Street? List a space here free and we match it against every active requirement.
NYC Department of Buildings permits
Work permits and build-outs
In the 12 months to October 2026, the Department of Buildings issued first permits for 34 jobs at 10 East 40th Street. In the last two years, interior work was permitted on 15 floors (floors 1 to 6, 15, 17, 22, 24, 27 and 30 to 33 and the mezzanine). The newest build-out, on floors 1 to 6, was first permitted in October 2026 (construction; filed cost estimate $497,000). A sidewalk shed permit here is active until January 2, 2027.
- New jobs, last 12 months
- 34
- Initial permits, last 12 months
- 35
- Newest job first permitted
- October 2026
- Interior build-outs, last 24 months
- 13
- Floors with interior work, last 24 months
- 1 to 6, 15, 17, 22, 24, 27 and 30 to 33, mezzanine
- Facade and sidewalk jobs, last 24 months
- 1
- Sidewalk shed permit
- Active until Jan 2, 2027
Recent build-outs
New jobs by year
Build-outs across Grand CentralWhere NYC offices are being built out
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-24 (permits issued through 2026-10-22). A job counts once, when its first permit is issued; renewals are not new work. A build-out groups jobs on the same floors first permitted within 120 days of each other. Costs are the estimates filed with the jobs. Jobs filed before DOB NOW (in the older BIS system) are not counted. A permit is approval to do the work; it does not say who the work is for or whether it is finished.
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Before you sign
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Questions about 10 East 40th Street
How big is 10 East 40th Street?
10 East 40th Street has about 442,000 square feet of floor area in total, including 409,000 square feet of office and 33,000 square feet of retail, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.
When was 10 East 40th Street built?
City records list 1928 as the year built, with a major alteration recorded in 2008. The building is 48 floors tall.
What other addresses does 10 East 40th Street have?
City records list 7-11 East 39th Street and 8-14 East 40th Street on the same tax lot (BBL 1008690066) as 10 East 40th Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 10 East 40th Street?
10 East 40th Street is in ZIP code 10016, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 10 East 40th Street, New York, NY 10016, in Grand Central.
What is the zoning at 10 East 40th Street?
The lot is in the C5-2.5 zoning district. PLUTO lists a built floor area ratio (FAR) of 30.04 and a maximum commercial FAR of 12 for this lot.
What subway station is closest to 10 East 40th Street?
The closest subway station to 10 East 40th Street is Grand Central-42 St (the 4, 5, 6, 7 and S trains), about 700 feet away in a straight line, roughly 3 minutes on foot. The MTA lists it as an accessible station. Also nearby: 5 Av (the 7, B, D, F and M trains, connected to 42 St-Bryant Pk), 3 min walk; Times Sq-42 St (the 1, 2, 3, 7, N, Q, R, W, S, A, C and E trains, connected to 42 St-Port Authority Bus Terminal), 7 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 10 East 40th Street?
The NYC Department of Finance's 2026/27 assessment roll lists ROBNET 40TH STREET as the owner of record of 10 East 40th Street (BBL 1008690066). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
Who are the tenants at 10 East 40th Street?
Leasemark does not have the building's tenant roster, but SEC filings name companies with offices at 10 East 40th Street. 2 public companies report the address as their principal executive office: PROSPECT CAPITAL CORP (PSEC); and PROSPECT FLOATING RATE & ALTERNATIVE INCOME FUND, INC.. Private companies do not file with the SEC, so the full list of tenants is longer, and a company can also report a building it owns.
What is the energy grade of 10 East 40th Street?
10 East 40th Street reported an ENERGY STAR score of 66 for calendar year 2024 in its Local Law 84 benchmarking filing. Under Local Law 33, as amended by Local Law 95 of 2019, a score of 85 or higher earns an A, 70 to 84 a B, 55 to 69 a C and under 55 a D, so 66 earns a C. The Department of Buildings assigns the grade a building posts, so the posted label can differ if a filing was corrected. Its site energy use came to 75 kBtu per square foot, 20% below the national median of 93.3 for a similar property. Its greenhouse gas emissions were about 2,915 metric tons of CO2e (6.78 kg per square foot).
Does 10 East 40th Street meet Local Law 97?
At its 2024 energy use, 10 East 40th Street comes to about 2,081 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 3,235 tons for 2024 to 2029 (64% of the limit), so it would owe no penalty. From 2030 the limit drops to 1,143 tons and the same energy use counts as about 1,382 tons, about 239 tons over, or an estimated $64,000 a year unless the building cuts its emissions. This is an estimate from the owner's 2024 benchmarking filing using the coefficients and per-use limits in the law and the Department of Buildings rule, at $268 per ton over. It is not the building's Local Law 97 report, which can count credits and deductions this estimate cannot.
Is there construction at 10 East 40th Street?
In the 12 months to October 2026, the Department of Buildings issued first permits for 34 jobs at 10 East 40th Street. In the last two years, interior work was permitted on 15 floors (floors 1 to 6, 15, 17, 22, 24, 27 and 30 to 33 and the mezzanine). The newest build-out, on floors 1 to 6, was first permitted in October 2026 (construction; filed cost estimate $497,000). A sidewalk shed permit here is active until January 2, 2027. These are the Department of Buildings' DOB NOW work permits for tax lot 1008690066. A permit is approval to do the work; it does not say who the work is for or whether it is finished.
What are the property taxes at 10 East 40th Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $40.8 million for 10 East 40th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $4.42 million a year, roughly $10.01 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1008690066 show the actual bill.
What is the assessed value of 10 East 40th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 10 East 40th Street at $92.8 million ($27.5 million of it land) and its assessed value at $41.8 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 7% from 2022/23 ($86.7 million) to 2026/27.
Is there office space for lease at 10 East 40th Street?
No space at 10 East 40th Street is listed on Leasemark right now. Owners and brokers can list space here for free, and tenants can post a requirement to be matched when space opens up.
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