Office building · Hell's Kitchen, Manhattan
354 West 54th Street
New York, NY 10019
354 West 54th Street is a 5-floor office building in Hell's Kitchen, Manhattan, built in 1997, with about 197,000 square feet of office space according to city records.
Also at 321-343 West 53rd Street and 318-354 West 54th Street.
- Office space
- 197K SF
- Floors
- 5
- Year built
- 1997
- Zoning
- C6-2
The 7th largest of the 18 office buildings we track in Hell's Kitchen. Compare it with 6 neighbors
No space at 354 West 54th 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. Nothing free right now? Get tenant alerts for Hell's Kitchen and hear the moment a tenant posts a requirement there. Manage or lease this building? Claim this page.
Print a one-page profile of this building for a tour book or a client proposal.
Compared with its neighbors
How 354 West 54th Street compares
Next to the 6 nearest large office buildings, all within a 3 minute walk, 354 West 54th Street ranks 2nd of 7 by office floor area. It went up in 1997; the median neighbor dates from 1926. Its property tax is fully exempt on the city's assessment roll.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 354 West 54th Street | 197K SF | 5 | 1997 | Exempt | n/a |
| 362 West 54th Street | 45K SF | n/a | n/a | $10.09 | n/a |
| 333 West 52nd Street | 80K SF | 14 | 1928 | $8.08 | n/a |
| 355 West 52nd Street | 44K SF | 8 | 1910 | $14.92 | Jun 2022, $47.4M |
| 254 West 54th Street | 50K SF | 17 | 1926 | $15.85 | n/a |
| 250 West 55th Street | 820K SF | 40 | 2008 | $31.55 | n/a |
| 244 West 54th Street | 111K SF | 12 | 1911 | $8.99 | Feb 2017, $83.1M |
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
- 321-343 West 53rd Street; 318-354 West 54th Street
- ZIP code
- 10019
- Building type
- Office building (city class O2)
- Total floor area
- 196,884 SF
- Commercial floor area
- 196,884 SF
- Office
- 196,884 SF
- Height
- 5 floors
- Average floor
- About 39,400 SF (floor area divided by floors)
- Year built
- 1997
- Lot area
- 69,681 SF
- Zoning district
- C6-2
- Built FAR
- 2.83
- Max commercial FAR
- 6
- Tax lot (BBL)
- 1010440003
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-16; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-16. 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 NYC TRANSIT (MTA New York City Transit) as the owner of record. For tax year 2026/27 the city values 354 West 54th Street at $50.8 million and assesses it at $22.8 million. Exemptions on the roll cover the whole taxable value, which is common for government, nonprofit and payment-in-lieu-of-taxes properties.
- Owner of record
- NYC TRANSIT (MTA New York City Transit)
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $50,763,000
- Land market value
- $12,869,000
- Assessed value
- $22,843,350
- Exemptions
- $22,843,350
- Estimated yearly tax
- Fully exempt on the roll
City market value by tax year
Manage or lease this building? Claim this page. Requests are reviewed by hand.
How to find who owns any NYC buildingSource: 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 2026-10-16. Exempt properties can still owe charges or payments in lieu of taxes that the roll does not show.
Own or manage 354 West 54th Street? List a space here free and we match it against every active requirement. Renting it out yourself? Read the landlord's checklist.
NYC Department of Buildings permits
Work permits and build-outs
In the 12 months to October 2026, the Department of Buildings issued first permits for 1 job at 354 West 54th Street.
- New jobs, last 12 months
- 1
- Initial permits, last 12 months
- 1
- Newest job first permitted
- October 2025
- Interior build-outs, last 24 months
- 0
- Facade and sidewalk jobs, last 24 months
- 3
New jobs by year
Build-outs across Hell's KitchenWhere NYC offices are being built out
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-24 (permits issued through 2026-10-22). 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 office space listed in Hell's Kitchen yet
Own or broker space at 354 West 54th Street? List it free: it shows on this page and is matched against every active requirement the day it goes up.
Before you sign
Plain-English guides to square footage, rent and lease terms in New York, and free calculators to run your own numbers.
How much is commercial rent in NYC? Per square foot, by borough
What NYC office, retail and industrial buildings collect per square foot in each borough, from the city's own filings, with the monthly math and the costs on top of rent.
Good guy guarantee in NYC commercial leases
How a good guy guarantee works in a NYC commercial lease: what it covers, how the guarantor gets released, what to negotiate and the 2025 surrender ruling.
How much office space do you need per employee in 2026
About 150 to 260 rentable SF per employee in NYC when everyone comes in, less with shared desks: tables by team size and layout, then how to size from your busiest day.
- Free calculator
Office space calculator
How many square feet your team needs, from headcount and layout to a rentable range.
- Free calculator
Commercial rent calculator
Turn a price per square foot into monthly and yearly rent, with increases, free rent and net effective rent.
- Free calculator
TI allowance calculator
A landlord's build-out allowance in dollars, what it covers of your budget and what the rest adds to the rent.
- Free calculator
Commercial Rent Tax calculator
Whether a Manhattan lease owes the city's Commercial Rent Tax, and roughly how much a year.
Questions about 354 West 54th Street
How big is 354 West 54th Street?
354 West 54th Street has about 197,000 square feet of floor area in total, including 197,000 square feet of office, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.
When was 354 West 54th Street built?
City records list 1997 as the year built. The building is 5 floors tall.
What other addresses does 354 West 54th Street have?
City records list 321-343 West 53rd Street and 318-354 West 54th Street on the same tax lot (BBL 1010440003) as 354 West 54th Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 354 West 54th Street?
354 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 354 West 54th Street, New York, NY 10019, in Hell's Kitchen.
What is the zoning at 354 West 54th Street?
The lot is in the C6-2 zoning district. PLUTO lists a built floor area ratio (FAR) of 2.83 and a maximum commercial FAR of 6 for this lot.
What subway station is closest to 354 West 54th Street?
The closest subway station to 354 West 54th Street is 50 St (the C and E trains), about 1000 feet away in a straight line, roughly 4 minutes on foot. The MTA lists it as partly accessible. Also nearby: 50 St (the 1 train), 5 min walk; 7 Av (the B, D and E trains), 6 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 354 West 54th Street?
The NYC Department of Finance's 2026/27 assessment roll lists NYC TRANSIT (MTA New York City Transit) as the owner of record of 354 West 54th Street (BBL 1010440003). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
Is there construction at 354 West 54th Street?
In the 12 months to October 2026, the Department of Buildings issued first permits for 1 job at 354 West 54th Street. These are the Department of Buildings' DOB NOW work permits for tax lot 1010440003. 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 354 West 54th Street?
The Department of Finance's 2026/27 assessment roll lists exemptions covering the whole taxable value of 354 West 54th Street, so there is no property tax on the roll to estimate. That is common for government, nonprofit and payment-in-lieu-of-taxes (PILOT) properties. The city's property tax records for BBL 1010440003 show what is actually billed.
What is the assessed value of 354 West 54th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 354 West 54th Street at $50.8 million ($12.9 million of it land) and its assessed value at $22.8 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 35% from 2022/23 ($37.7 million) to 2026/27.
Is there office space for lease at 354 West 54th Street?
No space at 354 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.
2,723 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.
Hell's Kitchen
Transit hubs in Hell's Kitchen
- C E at 50 St
- 1 at 50 St
- A C E at 42 St-Port Authority