Self-storage building · Upper East Side, Manhattan
1124 First Avenue
New York, NY 10065
1124 First Avenue is a 7-floor self-storage building in the Upper East Side, Manhattan, built in 1910, with about 74,000 square feet of industrial and storage space according to city records.
Also at 400-402 East 62nd Street and 1124-1128 First Avenue.
- Industrial and storage space
- 74K SF
- Floors
- 7
- Year built
- 1910
- Zoning
- C8-4
The 4th largest of the 4 industrial and storage buildings we track in the Upper East Side. Compare it with 6 neighbors
No space at 1124 First Avenue is listed on Leasemark yet. Own or broker space here? List it free and it is matched against every active requirement the day it goes up, or import a spreadsheet of up to 50 spaces at once.
Compared with its neighbors
How 1124 First Avenue compares
Next to the 6 nearest large commercial buildings, all within a 3 minute walk, 1124 First Avenue ranks 5th of 7 by commercial floor area. It went up in 1910; the median neighbor dates from 1946. Its estimated property tax, about $11.56 a square foot of floor area before abatements, is close to the neighbors' median of $11.71.
| Building | Commercial space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 1124 First Avenue | 77K SF | 7 | 1910 | $11.56 | Dec 2021, $34.1M |
| 406 East 62nd Street | 178K SF | 6 | 1963 | $7.09 | Dec 2021, $327M |
| 321 East 61st Street | 79K SF | 7 | 2017 | Exempt | n/a |
| 325 East 60th Street | 96K SF | 5 | 1979 | $14.00 | n/a |
| 315 East 62nd Street | 63K SF | 6 | 1930 | $14.77 | Sep 2007, $31.3M |
| 306 East 61st Street | 73K SF | 7 | 1901 | $11.71 | Feb 2018, $47M |
| 1166 Second Avenue | 106K SF | 14 | 1927 | $7.32 | 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 50,000 SF of the building's main use. Walking times are straight-line estimates.
NYC tax lot records
Building facts
- Other addresses
- 400-402 East 62nd Street; 1124-1128 First Avenue
- ZIP code
- 10065
- Building type
- Self-storage building (city class E7)
- Total floor area
- 76,798 SF
- Commercial floor area
- 76,798 SF
- Retail
- 2,800 SF
- Industrial and storage
- 73,998 SF
- Height
- 7 floors
- Average floor
- About 11,000 SF (floor area divided by floors)
- Year built
- 1910
- Last major alteration
- 2018
- Lot area
- 10,821 SF
- Zoning district
- C8-4
- Built FAR
- 7.1
- Max commercial FAR
- 5
- Tax lot (BBL)
- 1014560046
Nearest subway
- Lexington Av/59 St
- Lexington Av/63 St
- Roosevelt Island
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-09-30; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-02. 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 SM I MMS, L.L.C as the owner of record. For tax year 2026/27 the city values 1124 First Avenue at $18.2 million and assesses it at $8.18 million. After phase-ins and exemptions its taxable value is $8.18 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 $887,573 a year before abatements, roughly $11.56 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
- SM I MMS, L.L.C
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $18,182,000
- Land market value
- $4,000,000
- Assessed value
- $8,181,900
- Estimated yearly tax
- About $887,573
- Tax per SF of floor area
- About $11.56
City market value by tax year
Source: 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 2026-10-02; 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.
NYC property records (ACRIS)
Sales history
1124 First Avenue last sold in December 2021 for $34.1 million, according to the deed recorded with the city. 400 EAST 62ND PROPERTIES, LLC sold it to SM I MMS, L.L.C. That comes to about $444 per square foot of floor area.
- Last sale (deed date)
- December 16, 2021
- Price
- $34,100,000
- Price per SF of floor area
- About $444
- Seller
- 400 EAST 62ND PROPERTIES, LLC
- Buyer
- SM I MMS, L.L.C
- Deed recorded
- December 29, 2021
- ACRIS document
- 2021121700645015
Source: NYC Department of Finance, ACRIS, Real Property Master, Legals and Parties, pulled 2026-10-02; prices as the deeds state them, names as recorded (companies and public bodies only). Shown are deeds that move the whole lot for a real price. Transfers between related companies for a nominal sum, sales of partial interests, land sales before the building went up and sales of the company that owns a building are left out.
NYC Department of Buildings permits
Work permits and build-outs
The Department of Buildings issued no permits for new jobs at 1124 First Avenue in the 12 months to September 2026; the last one was first permitted in August 2025.
- New jobs, last 12 months
- 0
- Initial permits, last 12 months
- 0
- Newest job first permitted
- August 2025
- Interior build-outs, last 24 months
- 0
New jobs by year
Build-outs across the Upper East SideWhere NYC offices are being built out
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-02 (permits issued through 2026-09-30). 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.
Before you sign
Plain-English guides to square footage, rent and lease terms in New York, and free calculators to run your own numbers.
Gross vs net leases in NYC: what tenants actually pay
Gross, modified gross or triple net: how NYC leases split taxes, operating costs and electricity, what the asking rent leaves out, and how to compare two spaces fairly.
How to read a New York commercial lease, clause by clause
Walk through a New York commercial lease clause by clause: rent start, escalations, deposit and guaranty, use, alterations, subletting, default and the end of the term.
Questions about 1124 First Avenue
How big is 1124 First Avenue?
1124 First Avenue has about 77,000 square feet of floor area in total, including 3,000 square feet of retail and 74,000 square feet of industrial and storage space, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.
When was 1124 First Avenue built?
City records list 1910 as the year built, with a major alteration recorded in 2018. The building is 7 floors tall.
What other addresses does 1124 First Avenue have?
City records list 400-402 East 62nd Street and 1124-1128 First Avenue on the same tax lot (BBL 1014560046) as 1124 First Avenue. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 1124 First Avenue?
1124 First Avenue is in ZIP code 10065, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 1124 First Avenue, New York, NY 10065, in the Upper East Side.
What is the zoning at 1124 First Avenue?
The lot is in the C8-4 zoning district. PLUTO lists a built floor area ratio (FAR) of 7.1 and a maximum commercial FAR of 5 for this lot.
What subway station is closest to 1124 First Avenue?
The closest subway station to 1124 First Avenue is Lexington Av/59 St (the N, R, W, 4, 5 and 6 trains, connected to 59 St), about 0.4 miles away in a straight line, roughly 8 minutes on foot. Also nearby: Lexington Av/63 St (the M and Q trains), 8 min walk; Roosevelt Island (the M train), 8 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 1124 First Avenue?
The NYC Department of Finance's 2026/27 assessment roll lists SM I MMS, L.L.C as the owner of record of 1124 First Avenue (BBL 1014560046). Big buildings are usually held through a company set up for that one property, so the name on the roll can differ from the landlord's brand or the managing agent. Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
When was 1124 First Avenue last sold?
1124 First Avenue last sold in December 2021 for $34.1 million, according to the deed recorded with the city. 400 EAST 62ND PROPERTIES, LLC sold it to SM I MMS, L.L.C. That comes to about $444 per square foot of floor area. The deed is ACRIS document 2021121700645015 (BBL 1014560046) in the city's property records. A sale of the company that owns a building is not recorded as a deed, so it would not show there.
Is there construction at 1124 First Avenue?
The Department of Buildings issued no permits for new jobs at 1124 First Avenue in the 12 months to September 2026; the last one was first permitted in August 2025. These are the Department of Buildings' DOB NOW work permits for tax lot 1014560046. 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 1124 First Avenue?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $8.18 million for 1124 First Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $887,573 a year, roughly $11.56 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1014560046 show the actual bill.
What is the assessed value of 1124 First Avenue?
For tax year 2026/27, the NYC Department of Finance puts the market value of 1124 First Avenue at $18.2 million ($4 million of it land) and its assessed value at $8.18 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 8% from 2022/23 ($16.9 million) to 2026/27.
Is there industrial and storage space for lease at 1124 First Avenue?
No space at 1124 First Avenue 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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