Office building with commercial space · Flatiron, Manhattan
242 Park Avenue South
New York, NY 10003
242 Park Avenue South is a 12-floor office building with commercial space in Flatiron, Manhattan, built in 1911, with about 103,000 square feet of office space according to city records.
Also at 50-52 East 20th Street and 242-250 Park Avenue South.
- Office space
- 103K SF
- Floors
- 12
- Year built
- 1911
- Zoning
- C6-4A
The 37th largest of the 90 office buildings we track in Flatiron. Compare it with 6 neighbors
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Compared with its neighbors
How 242 Park Avenue South compares
Next to the 6 nearest large office buildings, all within a 1 minute walk, 242 Park Avenue South ranks 4th of 7 by office floor area. It went up in 1911; the median neighbor dates from 1910. Its estimated property tax, about $20.52 a square foot of floor area before abatements, is close to the neighbors' median of $19.98.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 242 Park Avenue South | 103K SF | 12 | 1911 | $20.52 | n/a |
| 45 East 20th Street | 62K SF | 12 | 1911 | $11.67 | n/a |
| 251 Park Avenue South | 97K SF | 16 | 1910 | $26.86 | Jan 2014, $25M |
| 235 Park Avenue South | 59K SF | 12 | 1921 | $19.23 | n/a |
| 230 Park Avenue South | 311K SF | 13 | 1900 | $23.58 | Sep 2007, $229M |
| 257 Park Avenue South | 190K SF | 20 | 1913 | $18.83 | n/a |
| 233 Park Avenue South | 137K SF | 12 | 1909 | $20.74 | 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
- 50-52 East 20th Street; 242-250 Park Avenue South
- ZIP code
- 10003
- Building type
- Office building with commercial space (city class O6)
- Total floor area
- 111,569 SF
- Commercial floor area
- 111,569 SF
- Office
- 103,069 SF
- Retail
- 8,500 SF
- Height
- 12 floors
- Average floor
- About 9,300 SF (floor area divided by floors)
- Year built
- 1911
- Last major alteration
- 2017
- Lot area
- 9,350 SF
- Zoning district
- C6-4A
- Built FAR
- 11.93
- Max commercial FAR
- 10
- Tax lot (BBL)
- 1008480043
Nearest subway
- 23 St-Baruch College
- 14 St-Union Sq
- 23 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 storefront registry (Local Law 157)
Storefronts and vacancy
Owners registered 2 storefronts at 242 Park Avenue South for December 31, 2025, the newest annual filing the city has published, and none stood vacant that day.
- Storefronts registered for December 31, 2025
- 2
- Vacant that day
- 0
- Share vacant across Flatiron
- 11.8%
- Share vacant along Park Avenue South
- 23.4%
- Share vacant citywide
- 9.2%
Vacant on December 31, by year
Need a storefront in Flatiron? Get matchedNYC storefront vacancy report
Source: NYC Department of Finance, Storefronts Reported Vacant or Not (Local Law 157), annual filings for 2019 to 2025, pulled 2026-10-16. 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 2025 filing was due June 1, 2026, 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 250 PARK as the owner of record. For tax year 2026/27 the city values 242 Park Avenue South at $46.9 million and assesses it at $21.1 million. After phase-ins and exemptions its taxable value is $21.1 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 $2.29 million a year before abatements, roughly $20.52 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
- 250 PARK
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $46,889,000
- Land market value
- $13,300,000
- Assessed value
- $21,100,050
- Estimated yearly tax
- About $2.29 million
- Tax per SF of floor area
- About $20.52
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
One public company gives 242 Park Avenue South as its office address in SEC filings.
Public company
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 use and emissions
242 Park Avenue South's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score, 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 94.3 kBtu per square foot, 60% above the national median of 58.9 for a similar property. Its greenhouse gas emissions were about 1,025 metric tons of CO2e (8.62 kg per square foot).
- ENERGY STAR score (2024)
- None given
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 94.3 kBtu/SF
- National median for the type
- 58.9 kBtu/SF
- Greenhouse gas emissions
- 1,025 t CO2e
- Emissions per SF
- 8.62 kg CO2e
- Floor area in the filing
- 118,872 SF
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.
Local Law 97 of 2019, estimated
Local Law 97 emissions limit
At its 2024 energy use, 242 Park Avenue South comes to about 843 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 922 tons for 2024 to 2029 (91% of the limit), so it would owe no penalty. From 2030 the limit drops to 325 tons and the same energy use counts as about 590 tons, about 265 tons over, or an estimated $71,000 a year unless the building cuts its emissions.
- Period
- 2024 to 2029
- Emissions limit
- 922 t CO2e
- Estimated emissions
- 843 t CO2e
- Under the limit by
- 80 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 325 t CO2e
- Estimated emissions
- 590 t CO2e
- Over the limit by
- 265 t CO2e
- Estimated penalty a year
- $71,000
Estimated from the owner's 2024 Local Law 84 filing, which reports energy by source and floor area by use: Restaurant 5,000 SF; Office 111,372 SF; Retail Store 2,500 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 242 Park Avenue South? 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 3 jobs at 242 Park Avenue South. In the last two years, interior work was permitted on 5 floors (floors 1 to 4 and 8, the cellar, the ground floor and the mezzanine). The newest build-out, on floors 2 and 3, was first permitted in April 2026 (mechanical; filed cost estimate $400,000).
- New jobs, last 12 months
- 3
- Initial permits, last 12 months
- 10
- Newest job first permitted
- April 2026
- Interior build-outs, last 24 months
- 5
- Floors with interior work, last 24 months
- 1 to 4 and 8, cellar, ground floor, mezzanine
Recent build-outs
New jobs by year
Build-outs across FlatironWhere 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 242 Park Avenue South
How big is 242 Park Avenue South?
242 Park Avenue South has about 112,000 square feet of floor area in total, including 103,000 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 242 Park Avenue South built?
City records list 1911 as the year built, with a major alteration recorded in 2017. The building is 12 floors tall.
What other addresses does 242 Park Avenue South have?
City records list 50-52 East 20th Street and 242-250 Park Avenue South on the same tax lot (BBL 1008480043) as 242 Park Avenue South. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 242 Park Avenue South?
242 Park Avenue South is in ZIP code 10003, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 242 Park Avenue South, New York, NY 10003, in Flatiron.
What is the zoning at 242 Park Avenue South?
The lot is in the C6-4A zoning district. PLUTO lists a built floor area ratio (FAR) of 11.93 and a maximum commercial FAR of 10 for this lot.
What subway station is closest to 242 Park Avenue South?
The closest subway station to 242 Park Avenue South is 23 St-Baruch College (the 6 train), about 750 feet away in a straight line, roughly 3 minutes on foot. The MTA lists it as an accessible station. Also nearby: 14 St-Union Sq (the 4, 5, 6, L, N, Q, R and W trains), 4 min walk; 23 St (the R and W trains), 4 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 242 Park Avenue South?
The NYC Department of Finance's 2026/27 assessment roll lists 250 PARK as the owner of record of 242 Park Avenue South (BBL 1008480043). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
Who are the tenants at 242 Park Avenue South?
Leasemark does not have the building's tenant roster, but SEC filings name companies with offices at 242 Park Avenue South. One public company reports the address as its principal executive office: KALTURA INC (KLTR). 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.
Does 242 Park Avenue South have an energy grade?
242 Park Avenue South's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score, 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 94.3 kBtu per square foot, 60% above the national median of 58.9 for a similar property. Its greenhouse gas emissions were about 1,025 metric tons of CO2e (8.62 kg per square foot).
Does 242 Park Avenue South meet Local Law 97?
At its 2024 energy use, 242 Park Avenue South comes to about 843 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 922 tons for 2024 to 2029 (91% of the limit), so it would owe no penalty. From 2030 the limit drops to 325 tons and the same energy use counts as about 590 tons, about 265 tons over, or an estimated $71,000 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 242 Park Avenue South?
In the 12 months to October 2026, the Department of Buildings issued first permits for 3 jobs at 242 Park Avenue South. In the last two years, interior work was permitted on 5 floors (floors 1 to 4 and 8, the cellar, the ground floor and the mezzanine). The newest build-out, on floors 2 and 3, was first permitted in April 2026 (mechanical; filed cost estimate $400,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1008480043. 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 242 Park Avenue South?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $21.1 million for 242 Park Avenue South. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $2.29 million a year, roughly $20.52 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1008480043 show the actual bill.
What is the assessed value of 242 Park Avenue South?
For tax year 2026/27, the NYC Department of Finance puts the market value of 242 Park Avenue South at $46.9 million ($13.3 million of it land) and its assessed value at $21.1 million, the 45% of market value the city assesses for Class 4 property. The city's market value fell 1% from 2022/23 ($47.2 million) to 2026/27.
Are there vacant storefronts at 242 Park Avenue South?
Owners registered 2 storefronts at 242 Park Avenue South for December 31, 2025, the newest annual filing the city has published, and none stood vacant that day. 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 242 Park Avenue South?
No space at 242 Park Avenue South 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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Flatiron
Transit hubs in Flatiron
- R W at 23 St
- 4 5 6 L N Q R W at 14 St-Union Sq
- F M at 23 St