Office building with commercial space · Midtown South, Manhattan
424 Park Avenue South
New York, NY 10016
424 Park Avenue South is a 16-floor office building with commercial space in Midtown South, Manhattan, built in 1913, with about 119,000 square feet of office space according to city records.
Also at 49-53 East 29th Street and 424-432 Park Avenue South.
- Office space
- 119K SF
- Floors
- 16
- Year built
- 1913
- Zoning
- C6-4A
The 60th largest of the 184 office buildings we track in Midtown South. Compare it with 6 neighbors
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Compared with its neighbors
How 424 Park Avenue South compares
Next to the 6 nearest large office buildings, all within a 1 minute walk, 424 Park Avenue South ranks 3rd of 7 by office floor area. It went up in 1913; the median neighbor dates from 1915. Its estimated property tax, about $12.71 a square foot of floor area before abatements, is close to the neighbors' median of $12.78.
| Building | Office space | Floors | Built | Tax / SF |
|---|---|---|---|---|
| 424 Park Avenue South | 119K SF | 16 | 1913 | $12.71 |
| 434 Park Avenue South | 136K SF | 16 | 1913 | $14.96 |
| 44 East 30th Street | 76K SF | 13 | 1915 | $23.80 |
| 38 East 29th Street | 62K SF | 10 | 1919 | $11.87 |
| 419 Park Avenue South | 149K SF | 20 | 1927 | $12.02 |
| 443 Park Avenue South | 67K SF | 11 | 1910 | $11.44 |
| 99 Madison Avenue | 113K SF | 17 | 1916 | $13.54 |
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). 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
- 49-53 East 29th Street; 424-432 Park Avenue South
- ZIP code
- 10016
- Building type
- Office building with commercial space (city class O6)
- Total floor area
- 126,784 SF
- Commercial floor area
- 126,784 SF
- Office
- 119,284 SF
- Retail
- 7,500 SF
- Height
- 16 floors
- Average floor
- About 7,900 SF (floor area divided by floors)
- Year built
- 1913
- Lot area
- 8,425 SF
- Zoning district
- C6-4A
- Built FAR
- 15.05
- Max commercial FAR
- 10
- Tax lot (BBL)
- 1008590039
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 432 PARK SOUTH REALTY CO. as the owner of record. For tax year 2026/27 the city values 424 Park Avenue South at $35.7 million and assesses it at $16.1 million. After phase-ins and exemptions its taxable value is $14.9 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 $1.61 million a year before abatements, roughly $12.71 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
- 432 PARK SOUTH REALTY CO.
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $35,718,000
- Land market value
- $11,000,000
- Assessed value
- $16,073,100
- Taxable value (phased in)
- $14,851,440
- Estimated yearly tax
- About $1.61 million
- Tax per SF of floor area
- About $12.71
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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SEC filings (EDGAR)
Companies with offices here
One public company and one investment manager give 424 Park Avenue South as their office address in SEC filings.
Public company
Investment manager
Source: U.S. Securities and Exchange Commission, EDGAR, Financial Statement Data Sets (2025 Q4 to 2026 Q3) and Form 13F Data Sets (through August 2026), pulled 2026-10-24; names as filed. The address is the one each company reports to the SEC. This is not a tenant roster: private companies and most smaller firms do not file with the SEC, a company can report a building it owns, and an address can trail a move by a quarter. Care-of addresses, blank check companies and asset-backed issuers are left out.
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NYC energy benchmarking (Local Law 84)
Energy score, grade and emissions
424 Park Avenue South reported an ENERGY STAR score of 83 out of 100 for 2024 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns a B (70 to 84). Its site energy use came to 39.9 kBtu per square foot, 42% below the national median of 68.5 for a similar property. Its greenhouse gas emissions were about 582 metric tons of CO2e (4.59 kg per square foot).
- ENERGY STAR score (2024)
- 83 of 100
- Grade this score earns (Local Law 33)
- B (70 to 84)
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 39.9 kBtu/SF
- National median for the type
- 68.5 kBtu/SF
- Greenhouse gas emissions
- 582 t CO2e
- Emissions per SF
- 4.59 kg CO2e
- Floor area in the filing
- 126,784 SF
ENERGY STAR score by year
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, 424 Park Avenue South comes to about 429 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 961 tons for 2024 to 2029 (45% of the limit), so it would owe no penalty. From 2030 the limit drops to 341 tons and the same energy use counts as about 215 tons, still under the limit.
- Period
- 2024 to 2029
- Emissions limit
- 961 t CO2e
- Estimated emissions
- 429 t CO2e
- Under the limit by
- 532 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 341 t CO2e
- Estimated emissions
- 215 t CO2e
- Under the limit by
- 126 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 126,784 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 424 Park Avenue South? 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 4 jobs at 424 Park Avenue South. In the last two years, interior work was permitted on 5 floors (floors 4, 10, 11, 15 and 16). The newest build-out, on floors 15 and 16, was first permitted in September 2026 (construction, plumbing; filed cost estimate $800,000).
- New jobs, last 12 months
- 4
- Initial permits, last 12 months
- 9
- Newest job first permitted
- September 2026
- Interior build-outs, last 24 months
- 6
- Floors with interior work, last 24 months
- 4, 10, 11, 15 and 16
Recent build-outs
New jobs by year
Build-outs across Midtown SouthWhere 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 Midtown South 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 424 Park Avenue South
How big is 424 Park Avenue South?
424 Park Avenue South has about 127,000 square feet of floor area in total, including 119,000 square feet of office and 8,000 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 424 Park Avenue South built?
City records list 1913 as the year built. The building is 16 floors tall.
What other addresses does 424 Park Avenue South have?
City records list 49-53 East 29th Street and 424-432 Park Avenue South on the same tax lot (BBL 1008590039) as 424 Park Avenue South. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 424 Park Avenue South?
424 Park Avenue South 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 424 Park Avenue South, New York, NY 10016, in Midtown South.
What is the zoning at 424 Park Avenue South?
The lot is in the C6-4A zoning district. PLUTO lists a built floor area ratio (FAR) of 15.05 and a maximum commercial FAR of 10 for this lot.
What subway station is closest to 424 Park Avenue South?
The closest subway station to 424 Park Avenue South is 28 St (the 6 train), about 450 feet away in a straight line, roughly 2 minutes on foot. The MTA lists it as partly accessible. Also nearby: 33 St (the 6 train), 3 min walk; 28 St (the R and W trains), 5 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 424 Park Avenue South?
The NYC Department of Finance's 2026/27 assessment roll lists 432 PARK SOUTH REALTY CO. as the owner of record of 424 Park Avenue South (BBL 1008590039). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
Who are the tenants at 424 Park Avenue South?
Leasemark does not have the building's tenant roster, but SEC filings name companies with offices at 424 Park Avenue South. One public company reports the address as its principal executive office: OLAPLEX HOLDINGS, INC.. One investment manager files 13F holdings reports from the address: Avala Global LP. Private companies do not file with the SEC, so the full list of tenants is longer, and a company can also report a building it owns.
What is the energy grade of 424 Park Avenue South?
424 Park Avenue South reported an ENERGY STAR score of 83 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 83 earns a B. 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 39.9 kBtu per square foot, 42% below the national median of 68.5 for a similar property. Its greenhouse gas emissions were about 582 metric tons of CO2e (4.59 kg per square foot).
Does 424 Park Avenue South meet Local Law 97?
At its 2024 energy use, 424 Park Avenue South comes to about 429 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 961 tons for 2024 to 2029 (45% of the limit), so it would owe no penalty. From 2030 the limit drops to 341 tons and the same energy use counts as about 215 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 424 Park Avenue South?
In the 12 months to October 2026, the Department of Buildings issued first permits for 4 jobs at 424 Park Avenue South. In the last two years, interior work was permitted on 5 floors (floors 4, 10, 11, 15 and 16). The newest build-out, on floors 15 and 16, was first permitted in September 2026 (construction, plumbing; filed cost estimate $800,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1008590039. 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 424 Park Avenue South?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $14.9 million for 424 Park Avenue South. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $1.61 million a year, roughly $12.71 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1008590039 show the actual bill.
What is the assessed value of 424 Park Avenue South?
For tax year 2026/27, the NYC Department of Finance puts the market value of 424 Park Avenue South at $35.7 million ($11 million of it land) and its assessed value at $16.1 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 19% from 2022/23 ($30 million) to 2026/27.
Is there office space for lease at 424 Park Avenue South?
No space at 424 Park Avenue South 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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Midtown South
Transit hubs in Midtown South
- R W at 28 St
- 6 at 28 St
- F M at 23 St