348 Lexington Avenue

348 Lexington Avenue has about 47,000 square feet of floor area in total, including 44,000 square feet of office and 4,000 square feet of retail, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.

City records list 1923 as the year built. The building is 11 floors tall.

City records list 124-126 East 40th Street and 350 Lexington Avenue on the same tax lot (BBL 1008950078) as 348 Lexington Avenue. A space listed on Leasemark at any of these addresses shows up on this page.

348 Lexington 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 348 Lexington Avenue, New York, NY 10016, in Murray Hill.

The lot is in the C5-3 zoning district. PLUTO lists a built floor area ratio (FAR) of 9.42 and a maximum commercial FAR of 15 for this lot.

The closest subway station to 348 Lexington Avenue is Grand Central-42 St (the 4, 5, 6, 7 and S trains), about 600 feet away in a straight line, roughly 2 minutes on foot. The MTA lists it as an accessible station. Also nearby: 5 Av (the 7, B, D, F and M trains, connected to 42 St-Bryant Pk), 7 min walk; 33 St (the 6 train), 8 min walk. Walking times are straight-line estimates; the street route is longer.

The NYC Department of Finance's 2026/27 assessment roll lists 124 EAST 40TH STREET as the owner of record of 348 Lexington Avenue (BBL 1008950078). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.

348 Lexington Avenue reported an ENERGY STAR score of 85 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 85 earns an A. 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 66.5 kBtu per square foot, 44% below the national median of 118.7 for a similar property. Its greenhouse gas emissions were about 311 metric tons of CO2e (5.26 kg per square foot).

At its 2024 energy use, 348 Lexington Avenue comes to about 295 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 446 tons for 2024 to 2029 (66% of the limit), so it would owe no penalty. From 2030 the limit drops to 162 tons and the same energy use counts as about 273 tons, about 112 tons over, or an estimated $30,000 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.

In the 12 months to October 2026, the Department of Buildings issued first permits for 4 jobs at 348 Lexington Avenue. In the last two years, interior work was permitted on 5 floors (floors 8 to 12, the lobby and the penthouse). The newest build-out, on floor 8, was first permitted in February 2026 (sprinklers; filed cost estimate $22,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1008950078. 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 $5.11 million for 348 Lexington Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $554,403 a year, roughly $11.69 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1008950078 show the actual bill.

For tax year 2026/27, the NYC Department of Finance puts the market value of 348 Lexington Avenue at $11.4 million ($5.87 million of it land) and its assessed value at $5.11 million, the 45% of market value the city assesses for Class 4 property. The city's market value fell 1% from 2022/23 ($11.4 million) to 2026/27.

Owners registered 3 storefronts at 348 Lexington Avenue for December 31, 2024, the newest annual filing the city has published, and 2 of them stood vacant that day. A year earlier, none of 3 did. These are the owners' filings with the Department of Finance under Local Law 157, so a storefront vacant on December 31, 2024 may have been leased since. Owners and brokers can list a storefront on Leasemark for free.

No space at 348 Lexington 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.