Factory and industrial building · Garment District, Manhattan
New York, NY 10018
306 West 38th Street is a 16-floor factory and industrial building in the Garment District, Manhattan, built in 1927, with about 69,000 square feet of industrial and storage space according to city records.
Also at 306-308 West 38th Street.
The 6th largest of the 6 industrial and storage buildings we track in the Garment District. Compare it with 6 neighbors
No space at 306 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
Next to the 6 nearest large industrial and storage buildings, all within a 7 minute walk, 306 West 38th Street is the smallest by industrial and storage floor area. It went up in 1927; the median neighbor dates from 1924. Its estimated property tax, about $10.10 a square foot of floor area before abatements, is above the neighbors' median of $8.04.
| Building | Industrial and storage space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 306 West 38th Street | 69K SF | 16 | 1927 | $10.10 | n/a |
| 554 Eighth Avenue | 228K SF | 21 | 1924 | $12.24 | n/a |
| 329 West 36th Street | 103K SF | 12 | 1924 | $4.68 | n/a |
| 257 West 38th Street | 74K SF | 16 | 1927 | $8.66 | n/a |
| 247 West 38th Street | 86K SF | 17 | 1924 | $6.07 | n/a |
| 254 West 35th Street | 107K SF | 16 | 1924 | $7.42 | Nov 2024, $16.1M |
| 501 Tenth Avenue | 193K SF | 7 | 1930 | $11.28 | Dec 2010, $40.5M (3 lots) |
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
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
The Department of Finance lists WEST 38TH STREET ASSOCIATES L.P. as the owner of record. For tax year 2026/27 the city values 306 West 38th Street at $16 million and assesses it at $7.2 million. After phase-ins and exemptions its taxable value is $6.86 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 $744,649 a year before abatements, roughly $10.10 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.
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)
306 West 38th Street's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score (no single use that ENERGY STAR scores covers more than half of the floor area), 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 45.5 kBtu per square foot. Its greenhouse gas emissions were about 309 metric tons of CO2e (3.94 kg per square foot).
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.
NYC Department of Buildings permits
The Department of Buildings issued no permits for new jobs at 306 West 38th Street in the 12 months to September 2026; the last one was first permitted in July 2024.
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.
No live requirements for industrial and storage space in the Garment District yet. These labeled examples show what tenants post. List a space in 306 West 38th Street and we match it against every new one automatically.
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306 West 38th Street has about 74,000 square feet of floor area in total, including 5,000 square feet of office and 69,000 square feet of industrial and storage space, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.
City records list 1927 as the year built, with a major alteration recorded in 1984. The building is 16 floors tall.
City records list 306-308 West 38th Street on the same tax lot (BBL 1007610041) as 306 West 38th Street. A space listed on Leasemark at any of these addresses shows up on this page.
306 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 306 West 38th Street, New York, NY 10018, in the Garment District.
The lot is in the C6-4M zoning district. PLUTO lists a built floor area ratio (FAR) of 15.03 and a maximum commercial FAR of 10 for this lot.
The closest subway station to 306 West 38th Street is 34 St-Penn Station (the A, C and E trains), about 950 feet away in a straight line, roughly 4 minutes on foot. The MTA lists it as an accessible station. Also nearby: 42 St-Port Authority Bus Terminal (the A, C, E, 1, 2, 3, 7, N, Q, R, W and S trains, connected to Times Sq-42 St), 4 min walk; 34 St-Penn Station (the 1, 2 and 3 trains), 6 min walk. Walking times are straight-line estimates; the street route is longer.
The NYC Department of Finance's 2026/27 assessment roll lists WEST 38TH STREET ASSOCIATES L.P. as the owner of record of 306 West 38th Street (BBL 1007610041). 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.
306 West 38th Street's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score (no single use that ENERGY STAR scores covers more than half of the floor area), 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 45.5 kBtu per square foot. Its greenhouse gas emissions were about 309 metric tons of CO2e (3.94 kg per square foot).
The Department of Buildings issued no permits for new jobs at 306 West 38th Street in the 12 months to September 2026; the last one was first permitted in July 2024. These are the Department of Buildings' DOB NOW work permits for tax lot 1007610041. A permit is approval to do the work; it does not say who the work is for or whether it is finished.
The Department of Finance's 2026/27 assessment roll lists a taxable value of $6.86 million for 306 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 $744,649 a year, roughly $10.10 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1007610041 show the actual bill.
For tax year 2026/27, the NYC Department of Finance puts the market value of 306 West 38th Street at $16 million ($858,000 of it land) and its assessed value at $7.2 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 17% from 2022/23 ($13.7 million) to 2026/27.
No space at 306 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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