Office building with commercial space · Garment District, Manhattan
246 West 38th Street
New York, NY 10018
246 West 38th Street is a 14-floor office building with commercial space in the Garment District, Manhattan, built in 1922, with about 90,000 square feet of office space according to city records.
Also at 246-250 West 38th Street.
- Office space
- 90K SF
- Floors
- 14
- Year built
- 1922
- Zoning
- M1-9A
The 96th largest of the 140 office buildings we track in the Garment District. Compare it with 6 neighbors
No space at 246 West 38th 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 246 West 38th Street compares
Next to the 6 nearest large office buildings, all within a 1 minute walk, 246 West 38th Street ranks 3rd of 7 by office floor area. It went up in 1922; the median neighbor dates from 1923. Its estimated property tax, about $8.21 a square foot of floor area before abatements, is above the neighbors' median of $6.76.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 246 West 38th Street | 90K SF | 14 | 1922 | $8.21 | n/a |
| 252 West 38th Street | 62K SF | 14 | 1924 | $7.18 | Jun 2004, $11.2M |
| 237 West 37th Street | 60K SF | 14 | 1922 | $6.35 | n/a |
| 256 West 38th Street | 89K SF | 14 | 1924 | $10.33 | May 2025, $21.5M |
| 225 West 37th Street | 143K SF | 16 | 1923 | $5.91 | n/a |
| 241 West 37th Street | 68K SF | 12 | 1913 | $10.31 | n/a |
| 230 West 38th Street | 123K SF | 17 | 1923 | $4.96 | 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 address
- 246-250 West 38th Street
- ZIP code
- 10018
- Building type
- Office building with commercial space (city class O6)
- Total floor area
- 96,275 SF
- Commercial floor area
- 96,275 SF
- Office
- 89,775 SF
- Retail
- 6,500 SF
- Height
- 14 floors
- Average floor
- About 6,900 SF (floor area divided by floors)
- Year built
- 1922
- Lot area
- 7,406 SF
- Zoning district
- M1-9A
- Built FAR
- 13
- Max commercial FAR
- 15
- Tax lot (BBL)
- 1007870067
Nearest subway
- Times Sq-42 St
- 34 St-Penn Station
- 34 St-Penn Station
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 246 W 38TH TENANTS CORP as the owner of record. For tax year 2026/27 the city values 246 West 38th Street at $17.1 million and assesses it at $7.7 million. After phase-ins and exemptions its taxable value is $7.29 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 $790,782 a year before abatements, roughly $8.21 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
- 246 W 38TH TENANTS CORP
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $17,101,000
- Land market value
- $1,940,000
- Assessed value
- $7,695,450
- Taxable value (phased in)
- $7,289,660
- Estimated yearly tax
- About $790,782
- Tax per SF of floor area
- About $8.21
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
246 West 38th Street reported an ENERGY STAR score of 84 out of 100 for 2024 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 64 kBtu per square foot, 42% below the national median of 111 for a similar property. Its greenhouse gas emissions were about 575 metric tons of CO2e (5.69 kg per square foot).
- ENERGY STAR score (2024)
- 84 of 100
- Grade this score earns (Local Law 33)
- B (70 to 84)
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 64 kBtu/SF
- National median for the type
- 111 kBtu/SF
- Greenhouse gas emissions
- 575 t CO2e
- Emissions per SF
- 5.69 kg CO2e
- Floor area in the filing
- 101,088 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 2026-10-02; 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 246 West 38th Street in the 12 months to September 2026; the last one was first permitted in August 2024.
- New jobs, last 12 months
- 0
- Initial permits, last 12 months
- 0
- Newest job first permitted
- August 2024
- Interior build-outs, last 24 months
- 0
New jobs by year
Build-outs across the Garment DistrictWhere 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
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Questions about 246 West 38th Street
How big is 246 West 38th Street?
246 West 38th Street has about 96,000 square feet of floor area in total, including 90,000 square feet of office and 7,000 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 246 West 38th Street built?
City records list 1922 as the year built. The building is 14 floors tall.
What other addresses does 246 West 38th Street have?
City records list 246-250 West 38th Street on the same tax lot (BBL 1007870067) as 246 West 38th Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 246 West 38th Street?
246 West 38th Street is in ZIP code 10018, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 246 West 38th Street, New York, NY 10018, in the Garment District.
What is the zoning at 246 West 38th Street?
The lot is in the M1-9A zoning district. PLUTO lists a built floor area ratio (FAR) of 13 and a maximum commercial FAR of 15 for this lot.
What subway station is closest to 246 West 38th Street?
The closest subway station to 246 West 38th Street is 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), about 950 feet away in a straight line, roughly 4 minutes on foot. The MTA lists it as an accessible station. Also nearby: 34 St-Penn Station (the A, C and E trains), 4 min walk; 34 St-Penn Station (the 1, 2 and 3 trains), 5 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 246 West 38th Street?
The NYC Department of Finance's 2026/27 assessment roll lists 246 W 38TH TENANTS CORP as the owner of record of 246 West 38th Street (BBL 1007870067). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
What is the energy grade of 246 West 38th Street?
246 West 38th Street reported an ENERGY STAR score of 84 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 84 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 64 kBtu per square foot, 42% below the national median of 111 for a similar property. Its greenhouse gas emissions were about 575 metric tons of CO2e (5.69 kg per square foot).
Is there construction at 246 West 38th Street?
The Department of Buildings issued no permits for new jobs at 246 West 38th Street in the 12 months to September 2026; the last one was first permitted in August 2024. These are the Department of Buildings' DOB NOW work permits for tax lot 1007870067. 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 246 West 38th Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $7.29 million for 246 West 38th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $790,782 a year, roughly $8.21 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1007870067 show the actual bill.
What is the assessed value of 246 West 38th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 246 West 38th Street at $17.1 million ($1.94 million of it land) and its assessed value at $7.7 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 11% from 2022/23 ($15.5 million) to 2026/27.
Is there office space for lease at 246 West 38th Street?
No space at 246 West 38th 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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Garment District
Transit hubs in the Garment District
- B D F M N Q R W at 34 St-Herald Sq
- 1 2 3 at 34 St-Penn Station