Office building with commercial space · Midtown, Manhattan

120 East 56th Street

New York, NY 10022

120 East 56th Street is a 15-floor office building with commercial space in Midtown, Manhattan, built in 1926, with about 75,000 square feet of office space according to city records.

Also at 116-120 East 56th Street.

Office space
75K SF
Floors
15
Year built
1926
Zoning
C5-2

The 263rd largest of the 315 office buildings we track in Midtown. Compare it with 6 neighbors

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Compared with its neighbors

How 120 East 56th Street compares

Next to the 6 nearest large office buildings, all within a 2 minute walk, 120 East 56th Street ranks 6th of 7 by office floor area. Built in 1926, it is the oldest of them. Its estimated property tax, about $11.82 a square foot of floor area before abatements, is below the neighbors' median of $24.40.

120 East 56th Street and the 6 nearest large office buildings: size, floors, year built, estimated property tax per square foot and last sale
BuildingOffice spaceFloorsBuiltTax / SFLast sale
120 East 56th StreetThis building75K SF151926$11.82n/a
126 East 56th Street1 min walk172K SF331982$21.07Apr 2023, $113M
425 Park Avenue1 min walk624K SF431957$27.73Nov 2019, $617M
445 Park Avenue1 min walk307K SF221947$17.81Nov 2011, $46.6M
110 East 55th Street1 min walk70K SF191985$16.52Jul 2026, $65M
430 Park Avenue1 min walk223K SF181954$28.22n/a
450 Park Avenue2 min walk265K SF321972$31.19Jun 2022, $445M
The 263rd largest of the 315 office buildings we track in Midtown: see the full list

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 address
116-120 East 56th Street
ZIP code
10022
Building type
Office building with commercial space (city class O6)
Total floor area
84,543 SF
Commercial floor area
84,543 SF
Office
75,288 SF
Retail
9,255 SF
Height
15 floors
Average floor
About 5,600 SF (floor area divided by floors)
Year built
1926
Last major alteration
1985
Lot area
6,326 SF
Zoning district
C5-2
Built FAR
13.36
Max commercial FAR
10
Tax lot (BBL)
1013100065

Nearest subway

  • 59 St4 min walk · Not accessible · connects to Lexington Av/59 St
  • Lexington Av/53 St4 min walk · Accessible station · connects to 51 St
  • 5 Av/53 St5 min walk · Not accessible

Nearby large buildings

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 storefront registry (Local Law 157)

Storefronts and vacancy

Owners registered 2 storefronts at 120 East 56th Street for December 31, 2024, the newest annual filing the city has published, and none stood vacant that day. A year earlier, 1 of 2 stood vacant.

Storefronts registered for December 31, 2024
2
Vacant that day
0
Share vacant across Midtown
14.0%
Share vacant citywide
8.7%

Vacant on December 31, by year

  • 20190 of 2
  • 20200 of 2
  • 20210 of 2
  • 20221 of 2
  • 20231 of 2
  • 20240 of 2

Bars show the share of the lot's registered storefronts that stood vacant.

Source: NYC Department of Finance, Storefronts Reported Vacant or Not (Local Law 157), annual filings for 2019 to 2024, pulled 2026-10-02. Owners of buildings with ground- or second-floor storefronts register each one every year with its status on December 31; counts are by tax lot, as the owners filed them. The 2024 filing was due June 3, 2025, so a storefront vacant then may have been leased since. A vacant storefront is not always on the market, and none here is listed on Leasemark unless it shows above.

NYC Department of Finance records

Owner, property tax and assessed value

The Department of Finance lists 120 EAST 56TH ST., LLC as the owner of record. For tax year 2026/27 the city values 120 East 56th Street at $20.8 million and assesses it at $9.37 million. After phase-ins and exemptions its taxable value is $9.21 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 $999,547 a year before abatements, roughly $11.82 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
120 EAST 56TH ST., LLC
Tax class
Class 4 (commercial and industrial)
City market value
$20,819,000
Land market value
$6,330,000
Assessed value
$9,368,550
Taxable value (phased in)
$9,214,110
Estimated yearly tax
About $999,547
Tax per SF of floor area
About $11.82

City market value by tax year

  • 2022/23$19.1 million
  • 2023/24$20.3 million
  • 2024/25$20.7 million
  • 2025/26$21.5 million
  • 2026/27$20.8 million

Market value rose 9% from 2022/23 ($19.1 million) to 2026/27.

How Midtown compares: property tax per SF across NYC neighborhoods

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 energy benchmarking (Local Law 84)

Energy use and emissions

120 East 56th Street's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score (no single use that ENERGY STAR scores covers more than half of the floor area), and Local Law 33 letter grades come from that score, so the filing does not yield an A to D grade. Its site energy use came to 53.9 kBtu per square foot, 34% above the national median of 40.1 for a similar property. Its greenhouse gas emissions were about 461 metric tons of CO2e (5.26 kg per square foot).

ENERGY STAR score (2024)
None given
Property type (Portfolio Manager)
Mixed Use Property
Site energy use intensity
53.9 kBtu/SF
National median for the type
40.1 kBtu/SF
Greenhouse gas emissions
461 t CO2e
Emissions per SF
5.26 kg CO2e
Floor area in the filing
87,706 SF

Energy sources in 2024

  • Electricity64%
  • District steam34%
  • Natural gas1%

Share of the energy used on site, as filed.

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 2026-10-02; grade cutoffs from the Department of Buildings energy grades page. Figures are as the owner filed them in ENERGY STAR Portfolio Manager.

NYC Department of Buildings permits

Work permits and build-outs

In the 12 months to September 2026, the Department of Buildings issued first permits for 1 job at 120 East 56th Street. In the last two years, interior work was permitted on one floor (floor 1). The newest build-out, on floor 1, was first permitted in June 2026 (structural; filed cost estimate $20,000).

New jobs, last 12 months
1
Initial permits, last 12 months
1
Newest job first permitted
June 2026
Interior build-outs, last 24 months
1
Floors with interior work, last 24 months
1

Recent build-outs

  • Floor 1June 2026Structural; est. $20,000

New jobs by year

  • 20210
  • 20229
  • 202312
  • 20244
  • 20250
  • 2026 to date1

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.

Office space nearby in Midtown

Nothing is listed nearby yet. The labeled examples below show how a space appears; they are not on the market.

What a requirement here looks like

No live requirements for office space in Midtown yet. These labeled examples show what tenants post. List a space in 120 East 56th Street and we match it against every new one automatically.

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Questions about 120 East 56th Street

How big is 120 East 56th Street?

120 East 56th Street has about 85,000 square feet of floor area in total, including 75,000 square feet of office and 9,000 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 120 East 56th Street built?

City records list 1926 as the year built, with a major alteration recorded in 1985. The building is 15 floors tall.

What other addresses does 120 East 56th Street have?

City records list 116-120 East 56th Street on the same tax lot (BBL 1013100065) as 120 East 56th Street. A space listed on Leasemark at any of these addresses shows up on this page.

What is the ZIP code of 120 East 56th Street?

120 East 56th Street is in ZIP code 10022, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 120 East 56th Street, New York, NY 10022, in Midtown.

What is the zoning at 120 East 56th Street?

The lot is in the C5-2 zoning district. PLUTO lists a built floor area ratio (FAR) of 13.36 and a maximum commercial FAR of 10 for this lot.

What subway station is closest to 120 East 56th Street?

The closest subway station to 120 East 56th Street is 59 St (the 4, 5, 6, N, R and W trains, connected to Lexington Av/59 St), about 0.2 miles away in a straight line, roughly 4 minutes on foot. Also nearby: Lexington Av/53 St (the E, F and 6 trains, connected to 51 St), 4 min walk; 5 Av/53 St (the E and F trains), 5 min walk. Walking times are straight-line estimates; the street route is longer.

Who owns 120 East 56th Street?

The NYC Department of Finance's 2026/27 assessment roll lists 120 EAST 56TH ST., LLC as the owner of record of 120 East 56th Street (BBL 1013100065). 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.

Does 120 East 56th Street have an energy grade?

120 East 56th Street's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score (no single use that ENERGY STAR scores covers more than half of the floor area), and Local Law 33 letter grades come from that score, so the filing does not yield an A to D grade. Its site energy use came to 53.9 kBtu per square foot, 34% above the national median of 40.1 for a similar property. Its greenhouse gas emissions were about 461 metric tons of CO2e (5.26 kg per square foot).

Is there construction at 120 East 56th Street?

In the 12 months to September 2026, the Department of Buildings issued first permits for 1 job at 120 East 56th Street. In the last two years, interior work was permitted on one floor (floor 1). The newest build-out, on floor 1, was first permitted in June 2026 (structural; filed cost estimate $20,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1013100065. 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 120 East 56th Street?

The Department of Finance's 2026/27 assessment roll lists a taxable value of $9.21 million for 120 East 56th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $999,547 a year, roughly $11.82 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1013100065 show the actual bill.

What is the assessed value of 120 East 56th Street?

For tax year 2026/27, the NYC Department of Finance puts the market value of 120 East 56th Street at $20.8 million ($6.33 million of it land) and its assessed value at $9.37 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 9% from 2022/23 ($19.1 million) to 2026/27.

Are there vacant storefronts at 120 East 56th Street?

Owners registered 2 storefronts at 120 East 56th Street for December 31, 2024, the newest annual filing the city has published, and none stood vacant that day. A year earlier, 1 of 2 stood vacant. These are the owners' filings with the Department of Finance under Local Law 157, so a storefront may have come free since. Owners and brokers can list a storefront on Leasemark for free.

Is there office space for lease at 120 East 56th Street?

No space at 120 East 56th 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.

1,677 buildings from city records

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