Office building with commercial space · Midtown South, Manhattan

251 Fifth Avenue

New York, NY 10016

251 Fifth Avenue is a 7-floor office building with commercial space in Midtown South, Manhattan, built in 1916, with about 42,000 square feet of office space according to city records.

Also at 1 East 28th Street and 251-253 Fifth Avenue.

Office space: 42K SF
Floors: 7
Year built: 1916
Zoning: C5-2

Office space next to its nearest neighbors

259 Fifth Avenue1 min walk427K SF
3 East 28th Street1 min walk54K SF
251 Fifth AvenueThis building42K SF

The 170th largest of the 184 office buildings we track in Midtown South. Compare it with 6 neighbors

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Compared with its neighbors

How 251 Fifth Avenue compares

Next to the 6 nearest large office buildings, all within a 1 minute walk, 251 Fifth Avenue is the smallest by office floor area. It went up in 1916; the median neighbor dates from 1913. Its estimated property tax, about $11.60 a square foot of floor area before abatements, is below the neighbors' median of $13.02.

251 Fifth Avenue and the 6 nearest large office buildings: size, floors, year built, estimated property tax per square foot and last sale
Building	Office space	Floors	Built	Tax / SF	Last sale
251 Fifth AvenueThis building	42K SF	7	1916	$11.60	n/a
3 East 28th Street1 min walk	54K SF	12	1912	$13.27	n/a
259 Fifth Avenue1 min walk	427K SF	25	1929	$12.77	Jul 2005, $180M
243 Fifth Avenue1 min walk	248K SF	24	1927	$19.51	Apr 2011, $162M
258 Fifth Avenue1 min walk	55K SF	12	1900	$11.01	May 2021, $52.5M
267 Fifth Avenue1 min walk	50K SF	11	1915	$14.57	n/a
236 Fifth Avenue1 min walk	59K SF	11	1907	$12.74	n/a

The 170th largest of the 184 office buildings we track in Midtown South: 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 35,000 SF of the building's main use. Walking times are straight-line estimates.

NYC tax lot records

Building facts

Other addresses: 1 East 28th Street; 251-253 Fifth Avenue
ZIP code: 10016
Building type: Office building with commercial space (city class O6)
Total floor area: 48,535 SF
Commercial floor area: 48,535 SF
Office: 41,535 SF
Retail: 7,000 SF
Height: 7 floors
Average floor: About 6,900 SF (floor area divided by floors)
Year built: 1916
Lot area: 7,425 SF
Zoning district: C5-2
Built FAR: 6.54
Max commercial FAR: 10
Historic district: Madison Square North Historic District
Tax lot (BBL): 1008580001

Nearest subway

28 St2 min walk · Not accessible
28 St3 min walk · Partly accessible
33 St5 min walk · Not accessible

Nearby large buildings

72 Madison Avenue54K SF office · 12 floors · 1 min walk
13 West 27th Street46K SF office · 11 floors · 2 min walk
102 Madison Avenue101K SF office · 12 floors · 2 min walk
Revillon Building, 13 West 28th Street36K SF office · 10 floors · 2 min walk
276 Fifth Avenue119K SF office · 11 floors · 2 min walk
11 East 26th Street207K SF office · 21 floors · 2 min walk
Emmet Building, 89 Madison Avenue137K SF office · 16 floors · 2 min walk
Victoria Building, 228 Fifth Avenue384K SF office · 20 floors · 2 min walk

All 115 large office buildings on Fifth Avenue

Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-05; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-05. 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 6 storefronts at 251 Fifth Avenue for December 31, 2024, the newest annual filing the city has published, and none stood vacant that day.

Storefronts registered for December 31, 2024: 6
Vacant that day: 0
Share vacant here: 0.0%
Share vacant across Midtown South: 12.7%
Share vacant along Fifth Avenue: 12.6%
Share vacant citywide: 8.7%

Vacant on December 31, by year

20190 of 6
20200 of 6
20210 of 6
20221 of 6
20230 of 6
20240 of 6

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

Need a storefront in Midtown South? Get matched Storefront vacancy across New York City

Source: NYC Department of Finance, Storefronts Reported Vacant or Not (Local Law 157), annual filings for 2019 to 2024, pulled 2026-10-08. 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 PROFILE ENTERPRISES 3 LLC as the owner of record. For tax year 2026/27 the city values 251 Fifth Avenue at $13.2 million and assesses it at $5.92 million. After phase-ins and exemptions its taxable value is $5.19 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 $562,858 a year before abatements, roughly $11.60 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: PROFILE ENTERPRISES 3 LLC
Tax class: Class 4 (commercial and industrial)
City market value: $13,164,000
Land market value: $3,000,000
Assessed value: $5,923,800
Taxable value (phased in): $5,188,590
Estimated yearly tax: About $562,858
Tax per SF of floor area: About $11.60

City market value by tax year

2022/23$11.3 million
2023/24$8.56 million
2024/25$12.2 million
2025/26$12.4 million
2026/27$13.2 million

Market value rose 16% from 2022/23 ($11.3 million) to 2026/27.

How Midtown South compares: property tax per SF across NYC neighborhoods Estimate this tax bill, or a tenant's share of it

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 2026-10-08; 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.

Own or manage 251 Fifth Avenue? List a space here free and we match it against every active requirement.

NYC energy benchmarking (Local Law 84)

Energy use and emissions

251 Fifth Avenue's 2023 Local Law 84 benchmarking filing got no ENERGY STAR score (the filing does not cover 12 full months of meter data), and Local Law 33 letter grades come from that score, so the filing does not yield an A to D grade.

ENERGY STAR score (2023): None given
Property type (Portfolio Manager): Office
Floor area in the filing: 55,771 SF

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 2026-10-08; 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

The Department of Buildings issued no permits for new jobs at 251 Fifth Avenue in the 12 months to October 2026; the last one was first permitted in September 2024.

New jobs, last 12 months: 0
Initial permits, last 12 months: 0
Newest job first permitted: September 2024
Interior build-outs, last 24 months: 0

New jobs by year

20213
20220
20231
20241
20250
2026 to date0

Build-outs across Midtown South Where NYC offices are being built out

Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-08 (permits issued through 2026-10-06). 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 South

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

OfficeExample

Available11,200SF

41 Madison Ave, Floor 9

Full floor loft with park views · Midtown South

$78/SF/yr

What a requirement here looks like

No live requirements for office space in Midtown South yet. These labeled examples show what tenants post. List a space in 251 Fifth Avenue and we match it against every new one automatically.

Want · OfficeExample

Series B fintech needs 8,000 to 12,000 SF

Posted by the tenant · Fintech

Where: Midtown South, Flatiron +1
Size: 8,000 to 12,000 SF
Budget: to $85/SF
Move in: Jan 2027

Near subwayHigh ceilings

Owners: got a fit?I have a fit

Want · OfficeExample

Startup seeking furnished sublease

Posted by the tenant · Software

Where: Flatiron, Midtown South +1
Size: 6,000 to 11,000 SF
Budget: to $60/SF
Move in: Nov 2026

Furnished

Owners: got a fit?I have a fit

Before you sign

Plain-English guides to square footage, rent and lease terms in New York, and free calculators to run your own numbers.

All guides

Questions about 251 Fifth Avenue

How big is 251 Fifth Avenue?

251 Fifth Avenue has about 49,000 square feet of floor area in total, including 42,000 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 251 Fifth Avenue built?

City records list 1916 as the year built. The building is 7 floors tall.

What other addresses does 251 Fifth Avenue have?

City records list 1 East 28th Street and 251-253 Fifth Avenue on the same tax lot (BBL 1008580001) as 251 Fifth Avenue. A space listed on Leasemark at any of these addresses shows up on this page.

What is the ZIP code of 251 Fifth Avenue?

251 Fifth Avenue 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 251 Fifth Avenue, New York, NY 10016, in Midtown South.

What is the zoning at 251 Fifth Avenue?

The lot is in the C5-2 zoning district. PLUTO lists a built floor area ratio (FAR) of 6.54 and a maximum commercial FAR of 10 for this lot. It is inside the Madison Square North Historic District, so exterior changes go through the Landmarks Preservation Commission.

What subway station is closest to 251 Fifth Avenue?

The closest subway station to 251 Fifth Avenue is 28 St (the R and W trains), about 600 feet away in a straight line, roughly 2 minutes on foot. Also nearby: 28 St (the 6 train), 3 min walk; 33 St (the 6 train), 5 min walk. Walking times are straight-line estimates; the street route is longer.

Who owns 251 Fifth Avenue?

The NYC Department of Finance's 2026/27 assessment roll lists PROFILE ENTERPRISES 3 LLC as the owner of record of 251 Fifth Avenue (BBL 1008580001). 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 251 Fifth Avenue have an energy grade?

Is there construction at 251 Fifth Avenue?

The Department of Buildings issued no permits for new jobs at 251 Fifth Avenue in the 12 months to October 2026; the last one was first permitted in September 2024. These are the Department of Buildings' DOB NOW work permits for tax lot 1008580001. 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 251 Fifth Avenue?

The Department of Finance's 2026/27 assessment roll lists a taxable value of $5.19 million for 251 Fifth Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $562,858 a year, roughly $11.60 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1008580001 show the actual bill.

What is the assessed value of 251 Fifth Avenue?

For tax year 2026/27, the NYC Department of Finance puts the market value of 251 Fifth Avenue at $13.2 million ($3 million of it land) and its assessed value at $5.92 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 16% from 2022/23 ($11.3 million) to 2026/27.

Are there vacant storefronts at 251 Fifth Avenue?

Owners registered 6 storefronts at 251 Fifth Avenue for December 31, 2024, 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 251 Fifth Avenue?

No space at 251 Fifth 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.

2,180 buildings from city records

Look up another building

Size, owner of record and property tax, plus the last sale and energy grade where the city has them, for every large office, retail and industrial building we track. Type any address on the lot (like 350 Fifth Avenue), a building name, a street or a neighborhood.

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Midtown South

Transit hubs in Midtown South

R W at 28 St
6 at 28 St
F M at 23 St