Office building with commercial space · Long Island City, Queens
40-29 21st Street
Long Island City, NY 11101
40-29 21st Street is a 6-floor office building with commercial space in Long Island City, Queens, built in 1922, with about 64,000 square feet of office space according to city records.
Also at 40-09 to 40-31 21st Street.
- Office space
- 64K SF
- Floors
- 6
- Year built
- 1922
- Zoning
- M1-5A
The 35th largest of the 48 office buildings we track in Long Island City. Compare it with 6 neighbors
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Compared with its neighbors
How 40-29 21st Street compares
Next to the 6 nearest large office buildings, all within a 8 minute walk, 40-29 21st Street ranks 6th of 7 by office floor area. It went up in 1922; the median neighbor dates from 1922. Its estimated property tax, about $7.74 a square foot of floor area before abatements, is above the neighbors' median of $6.71.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 40-29 21st Street | 64K SF | 6 | 1922 | $7.74 | n/a |
| 41-21 27th Street | 247K SF | 13 | 2002 | $7.32 | n/a |
| 37-24 24th Street | 113K SF | 3 | 1930 | $1.66 | Jan 2004, $6.7M (2 lots) |
| 27-01 Queens Plaza North | 337K SF | 7 | 1910 | $9.35 | n/a |
| 22-15 43rd Avenue | 48K SF | 4 | 1918 | $6.71 | n/a |
| 41-43 28th Street | 189K SF | 9 | 1914 | Exempt | n/a |
| 21-16 43rd Avenue | 124K SF | 3 | 1926 | $4.65 | Jan 2015, $43.5M |
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 address
- 40-09 to 40-31 21st Street
- ZIP code
- 11101
- Building type
- Office building with commercial space (city class O5)
- Total floor area
- 77,443 SF
- Commercial floor area
- 77,443 SF
- Office
- 64,016 SF
- Retail
- 13,427 SF
- Height
- 6 floors
- Average floor
- About 12,900 SF (floor area divided by floors)
- Year built
- 1922
- Last major alteration
- 2018
- Lot area
- 13,773 SF
- Zoning district
- M1-5A
- Built FAR
- 5.62
- Max commercial FAR
- 5
- Tax lot (BBL)
- 4004100009
Nearest subway
- 21 St-Queensbridge
- Queensboro Plaza
- Queens Plaza
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 40-21 CORNERS, LLC as the owner of record. For tax year 2026/27 the city values 40-29 21st Street at $12.3 million and assesses it at $5.53 million. After phase-ins and exemptions its taxable value is $5.53 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 $599,656 a year before abatements, roughly $7.74 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
- 40-21 CORNERS, LLC
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $12,284,000
- Land market value
- $1,033,000
- Assessed value
- $5,527,800
- Estimated yearly tax
- About $599,656
- Tax per SF of floor area
- About $7.74
City market value by tax year
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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; 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.
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NYC energy benchmarking (Local Law 84)
Energy score, grade and emissions
40-29 21st Street reported an ENERGY STAR score of 87 out of 100 for 2024 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns an A (85 or higher). Its site energy use came to 39.3 kBtu per square foot, 47% below the national median of 74.6 for a similar property. Its greenhouse gas emissions were about 306 metric tons of CO2e (3.96 kg per square foot).
- ENERGY STAR score (2024)
- 87 of 100
- Grade this score earns (Local Law 33)
- A (85 or higher)
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 39.3 kBtu/SF
- National median for the type
- 74.6 kBtu/SF
- Greenhouse gas emissions
- 306 t CO2e
- Emissions per SF
- 3.96 kg CO2e
- Floor area in the filing
- 77,443 SF
Energy sources in 2024
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 2026-10-16; 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.
Local Law 97 of 2019, estimated
Local Law 97 emissions limit
At its 2024 energy use, 40-29 21st Street comes to about 235 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 587 tons for 2024 to 2029 (40% of the limit), so it would owe no penalty. From 2030 the limit drops to 208 tons and the same energy use counts as about 137 tons, still under the limit.
- Period
- 2024 to 2029
- Emissions limit
- 587 t CO2e
- Estimated emissions
- 235 t CO2e
- Under the limit by
- 352 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 208 t CO2e
- Estimated emissions
- 137 t CO2e
- Under the limit by
- 72 t CO2e
- Estimated penalty a year
- None
Estimated from the owner's 2024 Local Law 84 filing, which reports energy by source and floor area by use: Office 77,443 SF. It applies the coefficients and per-use limits in Department of Buildings rule 1 RCNY 103-14 and Administrative Code 28-320.3.1.1 (as the Department lists them) and the $268 per ton penalty, checked 2026-10-04. It is not the building's Local Law 97 report: that report can count renewable energy credits, solar and storage deductions and, for 2024 and 2025, the law's occupancy group limits where higher, and penalties can be reduced for good faith efforts.
Change these numbers in the Local Law 97 calculator to see what a cut in energy use would do to the penalty.
How Local Law 97 works: who is covered, the 2030 limits and what owners, tenants and buyers should check.
Own or manage 40-29 21st Street? List a space here free and we match it against every active requirement.
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 6 jobs at 40-29 21st Street. In the last two years, interior work was permitted on 4 floors (floors 1 and 4 to 6). The newest build-out, on floor 6, was first permitted in June 2026 (construction, mechanical, sprinklers; filed cost estimate $447,000).
- New jobs, last 12 months
- 6
- Initial permits, last 12 months
- 7
- Newest job first permitted
- October 2026
- Interior build-outs, last 24 months
- 4
- Floors with interior work, last 24 months
- 1 and 4 to 6
Recent build-outs
New jobs by year
Build-outs across Long Island CityWhere 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 Long Island City yet
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Before you sign
Plain-English guides to square footage, rent and lease terms in New York, and free calculators to run your own numbers.
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Questions about 40-29 21st Street
How big is 40-29 21st Street?
40-29 21st Street has about 77,000 square feet of floor area in total, including 64,000 square feet of office and 13,000 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 40-29 21st Street built?
City records list 1922 as the year built, with a major alteration recorded in 2018. The building is 6 floors tall.
What other addresses does 40-29 21st Street have?
City records list 40-09 to 40-31 21st Street on the same tax lot (BBL 4004100009) as 40-29 21st Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 40-29 21st Street?
40-29 21st Street is in ZIP code 11101, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 40-29 21st Street, Long Island City, NY 11101.
What is the zoning at 40-29 21st Street?
The lot is in the M1-5A zoning district. PLUTO lists a built floor area ratio (FAR) of 5.62 and a maximum commercial FAR of 5 for this lot.
What subway station is closest to 40-29 21st Street?
The closest subway station to 40-29 21st Street is 21 St-Queensbridge (the M train), about 400 feet away in a straight line, roughly 2 minutes on foot. The MTA lists it as an accessible station. Also nearby: Queensboro Plaza (the 7, N and W trains), 6 min walk; Queens Plaza (the E, F and R trains), 9 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 40-29 21st Street?
The NYC Department of Finance's 2026/27 assessment roll lists 40-21 CORNERS, LLC as the owner of record of 40-29 21st Street (BBL 4004100009). 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 40-29 21st Street?
40-29 21st Street reported an ENERGY STAR score of 87 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 87 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 39.3 kBtu per square foot, 47% below the national median of 74.6 for a similar property. Its greenhouse gas emissions were about 306 metric tons of CO2e (3.96 kg per square foot).
Does 40-29 21st Street meet Local Law 97?
At its 2024 energy use, 40-29 21st Street comes to about 235 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 587 tons for 2024 to 2029 (40% of the limit), so it would owe no penalty. From 2030 the limit drops to 208 tons and the same energy use counts as about 137 tons, still under the limit. 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.
Is there construction at 40-29 21st Street?
In the 12 months to October 2026, the Department of Buildings issued first permits for 6 jobs at 40-29 21st Street. In the last two years, interior work was permitted on 4 floors (floors 1 and 4 to 6). The newest build-out, on floor 6, was first permitted in June 2026 (construction, mechanical, sprinklers; filed cost estimate $447,000). These are the Department of Buildings' DOB NOW work permits for tax lot 4004100009. 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 40-29 21st Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $5.53 million for 40-29 21st Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $599,656 a year, roughly $7.74 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 4004100009 show the actual bill.
What is the assessed value of 40-29 21st Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 40-29 21st Street at $12.3 million ($1.03 million of it land) and its assessed value at $5.53 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 89% from 2022/23 ($6.51 million) to 2026/27.
Is there office space for lease at 40-29 21st Street?
No space at 40-29 21st 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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