Want · Office
Law firm relocation near Grand Central
Posted by a tenant rep broker · Legal
- Where
- Grand Central, Midtown
- Size
- 7,000 to 10,000 SF
- Budget
- to $110/SF
- Move in
- May 2027
24/7 accessADA accessible
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Office building with commercial space · Grand Central, Manhattan
15 East 40th Street
New York, NY 10016
15 East 40th Street is a 12-floor office building with commercial space in Grand Central, Manhattan, built in 1913, with about 51,000 square feet of office space according to city records.
Also at 15-17 East 40th Street.
- Office space
- 51K SF
- Floors
- 12
- Year built
- 1913
- Zoning
- C5-3
The 80th largest of the 80 office buildings we track in Grand Central. Compare it with 6 neighbors
No space at 15 East 40th Street 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 15 East 40th Street compares
Next to the 6 nearest large office buildings, all within a 1 minute walk, 15 East 40th Street is the smallest by office floor area. It went up in 1913; the median neighbor dates from 1920. Its estimated property tax, about $10.53 a square foot of floor area before abatements, is below the neighbors' median of $14.15.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 15 East 40th Street | 51K SF | 12 | 1913 | $10.53 | n/a |
| 284 Madison Avenue | 97K SF | 23 | 1918 | $20.92 | Jul 2006, $44M |
| 7 East 40th Street | 78K SF | 18 | 1913 | $10.56 | Apr 2018, $70.3M |
| 18 East 41st Street | 89K SF | 22 | 1914 | $8.73 | n/a |
| 292 Madison Avenue | 164K SF | 24 | 1923 | $20.58 | Oct 2024, $90.5M |
| 278 Madison Avenue | 68K SF | 14 | 1930 | $7.06 | n/a |
| 10 East 41st Street | 72K SF | 17 | 1926 | $17.74 | Oct 2005, $34.3M |
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
- 15-17 East 40th Street
- ZIP code
- 10016
- Building type
- Office building with commercial space (city class O6)
- Total floor area
- 57,653 SF
- Commercial floor area
- 57,653 SF
- Office
- 51,302 SF
- Retail
- 6,351 SF
- Height
- 12 floors
- Average floor
- About 4,800 SF (floor area divided by floors)
- Year built
- 1913
- Last major alteration
- 2013
- Lot area
- 5,100 SF
- Zoning district
- C5-3
- Built FAR
- 11.3
- Max commercial FAR
- 15
- Tax lot (BBL)
- 1012750012
Nearest subway
- Grand Central-42 St
- 5 Av
- Times Sq-42 St
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 YA ZHOU WEN HUA ENTERPRISES LT as the owner of record. For tax year 2026/27 the city values 15 East 40th Street at $13.9 million and assesses it at $6.26 million. After phase-ins and exemptions its taxable value is $5.6 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 $607,252 a year before abatements, roughly $10.53 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
- YA ZHOU WEN HUA ENTERPRISES LT
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $13,922,000
- Land market value
- $2,340,000
- Assessed value
- $6,264,900
- Taxable value (phased in)
- $5,597,820
- Estimated yearly tax
- About $607,252
- Tax per SF of floor area
- About $10.53
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 energy benchmarking (Local Law 84)
Energy score, grade and emissions
15 East 40th Street reported an ENERGY STAR score of 80 out of 100 for 2023 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns a B (70 to 84). Its site energy use came to 61.5 kBtu per square foot, 37% below the national median of 98 for a similar property. Its greenhouse gas emissions were about 297 metric tons of CO2e (5.2 kg per square foot).
- ENERGY STAR score (2023)
- 80 of 100
- Grade this score earns (Local Law 33)
- B (70 to 84)
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 61.5 kBtu/SF
- National median for the type
- 98 kBtu/SF
- Greenhouse gas emissions
- 297 t CO2e
- Emissions per SF
- 5.2 kg CO2e
- Floor area in the filing
- 57,643 SF
Energy sources in 2023
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 (2023 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. 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.
NYC Department of Buildings permits
Work permits and build-outs
The Department of Buildings issued no permits for new jobs at 15 East 40th Street in the 12 months to September 2026; the last one was first permitted in May 2021.
- New jobs, last 12 months
- 0
- Initial permits, last 12 months
- 0
- Newest job first permitted
- May 2021
- Interior build-outs, last 24 months
- 0
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 2026-10-02 (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.
What a requirement here looks like
No live requirements for office space in Grand Central yet. These labeled examples show what tenants post. List a space in 15 East 40th Street and we match it against every new one automatically.
Before you sign
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Questions about 15 East 40th Street
How big is 15 East 40th Street?
15 East 40th Street has about 58,000 square feet of floor area in total, including 51,000 square feet of office and 6,000 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 15 East 40th Street built?
City records list 1913 as the year built, with a major alteration recorded in 2013. The building is 12 floors tall.
What other addresses does 15 East 40th Street have?
City records list 15-17 East 40th Street on the same tax lot (BBL 1012750012) as 15 East 40th Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 15 East 40th Street?
15 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 15 East 40th Street, New York, NY 10016, in Grand Central.
What is the zoning at 15 East 40th Street?
The lot is in the C5-3 zoning district. PLUTO lists a built floor area ratio (FAR) of 11.3 and a maximum commercial FAR of 15 for this lot.
What subway station is closest to 15 East 40th Street?
The closest subway station to 15 East 40th Street is Grand Central-42 St (the 4, 5, 6, 7 and S trains), about 500 feet away in a straight line, roughly 2 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), 8 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 15 East 40th Street?
The NYC Department of Finance's 2026/27 assessment roll lists YA ZHOU WEN HUA ENTERPRISES LT as the owner of record of 15 East 40th Street (BBL 1012750012). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
What is the energy grade of 15 East 40th Street?
15 East 40th Street reported an ENERGY STAR score of 80 for calendar year 2023 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 80 earns a B. 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 61.5 kBtu per square foot, 37% below the national median of 98 for a similar property. Its greenhouse gas emissions were about 297 metric tons of CO2e (5.2 kg per square foot).
Is there construction at 15 East 40th Street?
The Department of Buildings issued no permits for new jobs at 15 East 40th Street in the 12 months to September 2026; the last one was first permitted in May 2021. These are the Department of Buildings' DOB NOW work permits for tax lot 1012750012. 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 15 East 40th Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $5.6 million for 15 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 $607,252 a year, roughly $10.53 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1012750012 show the actual bill.
What is the assessed value of 15 East 40th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 15 East 40th Street at $13.9 million ($2.34 million of it land) and its assessed value at $6.26 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 35% from 2022/23 ($10.3 million) to 2026/27.
Is there office space for lease at 15 East 40th Street?
No space at 15 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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