Office building with commercial space · Midtown, Manhattan

254 West 54th Street

New York, NY 10019

254 West 54th Street is a 17-floor office building with commercial space in Midtown, Manhattan, built in 1926, with about 50,000 square feet of office space according to city records.

Also at 254-256 West 54th Street.

Office space
50K SF
Floors
17
Year built
1926
Zoning
C6-5

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

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Compared with its neighbors

How 254 West 54th Street compares

Next to the 6 nearest large office buildings, all within a 2 minute walk, 254 West 54th Street is the smallest by office floor area. It went up in 1926; the median neighbor dates from 1957. Its estimated property tax, about $15.85 a square foot of floor area before abatements, is close to the neighbors' median of $16.13.

254 West 54th 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
254 West 54th StreetThis building50K SF171926$15.85n/a
244 West 54th Street1 min walk111K SF121911$8.99Feb 2017, $83.1M
250 West 55th Street1 min walk820K SF402008$31.55n/a
1697 Broadway1 min walk80K SF131927$8.85n/a
245 West 55th Street2 min walk64K SF111914$9.58Jun 2023, $28.5M
1675 Broadway2 min walk740K SF351987$22.67n/a
1731 Broadway2 min walk553K SF262002$25.82n/a
The 315th 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
254-256 West 54th Street
ZIP code
10019
Building type
Office building with commercial space (city class O6)
Total floor area
60,000 SF
Commercial floor area
60,000 SF
Office
50,000 SF
Retail
10,000 SF
Height
17 floors
Average floor
About 3,500 SF (floor area divided by floors)
Year built
1926
Lot area
5,906 SF
Zoning district
C6-5
Built FAR
10.16
Max commercial FAR
10
Tax lot (BBL)
1010250058

Nearest subway

  • 7 Av3 min walk · Not accessible
  • 57 St-7 Av3 min walk · Accessible station
  • 50 St3 min walk · Partly 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 Department of Finance records

Owner, property tax and assessed value

The Department of Finance lists LANDPEN CO. L.P. as the owner of record. For tax year 2026/27 the city values 254 West 54th Street at $19.5 million and assesses it at $8.77 million. After phase-ins and exemptions its taxable value is $8.77 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 $950,887 a year before abatements, roughly $15.85 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
LANDPEN CO. L.P.
Tax class
Class 4 (commercial and industrial)
City market value
$19,479,000
Land market value
$2,778,000
Assessed value
$8,765,550
Estimated yearly tax
About $950,887
Tax per SF of floor area
About $15.85

City market value by tax year

  • 2022/23$20.1 million
  • 2023/24$23.6 million
  • 2024/25$21.8 million
  • 2025/26$18.8 million
  • 2026/27$19.5 million

Market value fell 3% from 2022/23 ($20.1 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 score, grade and emissions

254 West 54th Street reported an ENERGY STAR score of 59 out of 100 for 2024 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns a C (55 to 69). Its site energy use came to 99.2 kBtu per square foot, 12% below the national median of 112.9 for a similar property. Its greenhouse gas emissions were about 512 metric tons of CO2e (8.53 kg per square foot).

ENERGY STAR score (2024)
59 of 100
Grade this score earns (Local Law 33)
C (55 to 69)
Property type (Portfolio Manager)
Office
Site energy use intensity
99.2 kBtu/SF
National median for the type
112.9 kBtu/SF
Greenhouse gas emissions
512 t CO2e
Emissions per SF
8.53 kg CO2e
Floor area in the filing
60,000 SF

ENERGY STAR score by year

  • 202255 (C)
  • 202361 (C)
  • 202459 (C)

Energy sources in 2024

  • Electricity44%
  • District steam41%
  • Natural gas15%

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. 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

In the 12 months to September 2026, the Department of Buildings issued first permits for 1 job at 254 West 54th Street. In the last two years, interior work was permitted on one floor (floor 11). The newest build-out, on floor 11, was first permitted in September 2026 (construction, plumbing; filed cost estimate $120,000).

New jobs, last 12 months
1
Initial permits, last 12 months
2
Newest job first permitted
September 2026
Interior build-outs, last 24 months
1
Floors with interior work, last 24 months
11

Recent build-outs

  • Floor 11September 2026Construction, Plumbing; est. $120,000

New jobs by year

  • 20211
  • 20220
  • 20232
  • 20240
  • 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 254 West 54th Street and we match it against every new one automatically.

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Questions about 254 West 54th Street

How big is 254 West 54th Street?

254 West 54th Street has about 60,000 square feet of floor area in total, including 50,000 square feet of office and 10,000 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 254 West 54th Street built?

City records list 1926 as the year built. The building is 17 floors tall.

What other addresses does 254 West 54th Street have?

City records list 254-256 West 54th Street on the same tax lot (BBL 1010250058) as 254 West 54th Street. A space listed on Leasemark at any of these addresses shows up on this page.

What is the ZIP code of 254 West 54th Street?

254 West 54th Street is in ZIP code 10019, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 254 West 54th Street, New York, NY 10019, in Midtown.

What is the zoning at 254 West 54th Street?

The lot is in the C6-5 zoning district. PLUTO lists a built floor area ratio (FAR) of 10.16 and a maximum commercial FAR of 10 for this lot.

What subway station is closest to 254 West 54th Street?

The closest subway station to 254 West 54th Street is 7 Av (the B, D and E trains), about 800 feet away in a straight line, roughly 3 minutes on foot. Also nearby: 57 St-7 Av (the N, Q, R and W trains), 3 min walk; 50 St (the C and E trains), 3 min walk. Walking times are straight-line estimates; the street route is longer.

Who owns 254 West 54th Street?

The NYC Department of Finance's 2026/27 assessment roll lists LANDPEN CO. L.P. as the owner of record of 254 West 54th Street (BBL 1010250058). 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.

What is the energy grade of 254 West 54th Street?

254 West 54th Street reported an ENERGY STAR score of 59 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 59 earns a C. 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 99.2 kBtu per square foot, 12% below the national median of 112.9 for a similar property. Its greenhouse gas emissions were about 512 metric tons of CO2e (8.53 kg per square foot).

Is there construction at 254 West 54th Street?

In the 12 months to September 2026, the Department of Buildings issued first permits for 1 job at 254 West 54th Street. In the last two years, interior work was permitted on one floor (floor 11). The newest build-out, on floor 11, was first permitted in September 2026 (construction, plumbing; filed cost estimate $120,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1010250058. 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 254 West 54th Street?

The Department of Finance's 2026/27 assessment roll lists a taxable value of $8.77 million for 254 West 54th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $950,887 a year, roughly $15.85 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1010250058 show the actual bill.

What is the assessed value of 254 West 54th Street?

For tax year 2026/27, the NYC Department of Finance puts the market value of 254 West 54th Street at $19.5 million ($2.78 million of it land) and its assessed value at $8.77 million, the 45% of market value the city assesses for Class 4 property. The city's market value fell 3% from 2022/23 ($20.1 million) to 2026/27.

Is there office space for lease at 254 West 54th Street?

No space at 254 West 54th 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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