Office building with commercial space · Midtown, Manhattan

437 Fifth Avenue

New York, NY 10016

437 Fifth Avenue is an 11-floor office building with commercial space in Midtown, Manhattan, built in 1906, with about 64,000 square feet of office space according to city records.

Also at 2 East 39th Street and 437-439 Fifth Avenue.

Office space
64K SF
Floors
11
Year built
1906
Zoning
C5-3

The 281st largest of the 315 office buildings we track in Midtown. Compare it with 6 neighbors

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Compared with its neighbors

How 437 Fifth Avenue compares

Next to the 6 nearest large office buildings, all within a 1 minute walk, 437 Fifth Avenue is the smallest by office floor area. Built in 1906, it is the oldest of them. Its estimated property tax, about $9.57 a square foot of floor area before abatements, is below the neighbors' median of $11.06.

437 Fifth Avenue and the 6 nearest large office buildings: size, floors, year built, estimated property tax per square foot and last sale
BuildingOffice spaceFloorsBuiltTax / SFLast sale
437 Fifth AvenueThis building64K SF111906$9.57n/a
5 East 38th Street1 min walk72K SF121920$12.12May 2006, $26.5M
7 East 38th Street1 min walk76K SF121920$4.97n/a
10 East 40th Street1 min walk409K SF481928$10.01n/a
16 East 40th Street1 min walk83K SF121911$8.57Jan 2005, $18.7M
260 Madison Avenue1 min walk481K SF221952$12.24Dec 2025, $211M
Lord & Taylor Building, 424 Fifth Avenue1 min walk614K SF141914$35.74Mar 2020, $978M
The 281st largest of the 315 office buildings we track in Midtown: see the full list

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

Building facts

Other addresses
2 East 39th Street; 437-439 Fifth Avenue
ZIP code
10016
Building type
Office building with commercial space (city class O6)
Total floor area
69,378 SF
Commercial floor area
69,378 SF
Office
63,878 SF
Retail
5,500 SF
Height
11 floors
Average floor
About 6,300 SF (floor area divided by floors)
Year built
1906
Last major alteration
1986
Lot area
6,177 SF
Zoning district
C5-3
Built FAR
11.23
Max commercial FAR
15
Tax lot (BBL)
1008680072

Nearest subway

  • 5 Av3 min walk · Not accessible · connects to 42 St-Bryant Pk
  • Grand Central-42 St4 min walk · Accessible station
  • 34 St-Herald Sq6 min walk · Accessible station

Nearby large buildings

All 101 large office buildings on Fifth Avenue

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

Owner, property tax and assessed value

The Department of Finance lists ROBNET 437 LLC as the owner of record. For tax year 2026/27 the city values 437 Fifth Avenue at $15.5 million and assesses it at $7 million. After phase-ins and exemptions its taxable value is $6.12 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 $664,190 a year before abatements, roughly $9.57 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
ROBNET 437 LLC
Tax class
Class 4 (commercial and industrial)
City market value
$15,548,000
Land market value
$9,000,000
Assessed value
$6,996,600
Taxable value (phased in)
$6,122,700
Estimated yearly tax
About $664,190
Tax per SF of floor area
About $9.57

City market value by tax year

  • 2022/23$12 million
  • 2023/24$12.2 million
  • 2024/25$13.8 million
  • 2025/26$14.5 million
  • 2026/27$15.5 million

Market value rose 30% from 2022/23 ($12 million) to 2026/27.

How Midtown compares: property tax per SF across NYC neighborhoods

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)

Energy score, grade and emissions

437 Fifth Avenue reported an ENERGY STAR score of 64 out of 100 for 2024 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns a C (55 to 69). Its site energy use came to 52.2 kBtu per square foot, 18% below the national median of 63.7 for a similar property. Its greenhouse gas emissions were about 382 metric tons of CO2e (5.67 kg per square foot).

ENERGY STAR score (2024)
64 of 100
Grade this score earns (Local Law 33)
C (55 to 69)
Property type (Portfolio Manager)
Office
Site energy use intensity
52.2 kBtu/SF
National median for the type
63.7 kBtu/SF
Greenhouse gas emissions
382 t CO2e
Emissions per SF
5.67 kg CO2e
Floor area in the filing
67,365 SF

ENERGY STAR score by year

  • 202264 (C)
  • 202365 (C)
  • 202464 (C)

Energy sources in 2024

  • Electricity89%
  • Natural gas11%

Share of the energy used on site, as filed.

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. 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.

NYC Department of Buildings permits

Work permits and build-outs

In the 12 months to September 2026, the Department of Buildings issued first permits for 7 jobs at 437 Fifth Avenue. In the last two years, interior work was permitted on 2 floors (floors 4 and 5). The newest build-out, on floor 5, was first permitted in July 2026 (construction, mechanical, plumbing, sprinklers; filed cost estimate $271,000).

New jobs, last 12 months
7
Initial permits, last 12 months
7
Newest job first permitted
July 2026
Interior build-outs, last 24 months
2
Floors with interior work, last 24 months
4 and 5

Recent build-outs

  • Floor 5July 2026Construction, Mechanical, Plumbing, Sprinklers; 4 jobs; est. $271,000
  • Floor 4May 2026Construction, Mechanical, Sprinklers; 3 jobs; est. $278,000

New jobs by year

  • 20212
  • 202221
  • 20236
  • 20242
  • 20250
  • 2026 to date7

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.

Office space nearby in Midtown

Nothing is listed nearby yet. The labeled examples below show how a space appears; they are not on the market.

What a requirement here looks like

No live requirements for office space in Midtown yet. These labeled examples show what tenants post. List a space in 437 Fifth Avenue and we match it against every new one automatically.

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Questions about 437 Fifth Avenue

How big is 437 Fifth Avenue?

437 Fifth Avenue has about 69,000 square feet of floor area in total, including 64,000 square feet of office and 6,000 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 437 Fifth Avenue built?

City records list 1906 as the year built, with a major alteration recorded in 1986. The building is 11 floors tall.

What other addresses does 437 Fifth Avenue have?

City records list 2 East 39th Street and 437-439 Fifth Avenue on the same tax lot (BBL 1008680072) as 437 Fifth Avenue. A space listed on Leasemark at any of these addresses shows up on this page.

What is the ZIP code of 437 Fifth Avenue?

437 Fifth 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 437 Fifth Avenue, New York, NY 10016, in Midtown.

What is the zoning at 437 Fifth Avenue?

The lot is in the C5-3 zoning district. PLUTO lists a built floor area ratio (FAR) of 11.23 and a maximum commercial FAR of 15 for this lot.

What subway station is closest to 437 Fifth Avenue?

The closest subway station to 437 Fifth Avenue is 5 Av (the 7, B, D, F and M trains, connected to 42 St-Bryant Pk), about 900 feet away in a straight line, roughly 3 minutes on foot. Also nearby: Grand Central-42 St (the 4, 5, 6, 7 and S trains), 4 min walk; 34 St-Herald Sq (the B, D, F, M, N, Q, R and W trains), 6 min walk. Walking times are straight-line estimates; the street route is longer.

Who owns 437 Fifth Avenue?

The NYC Department of Finance's 2026/27 assessment roll lists ROBNET 437 LLC as the owner of record of 437 Fifth Avenue (BBL 1008680072). 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 437 Fifth Avenue?

437 Fifth Avenue reported an ENERGY STAR score of 64 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 64 earns a C. 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 52.2 kBtu per square foot, 18% below the national median of 63.7 for a similar property. Its greenhouse gas emissions were about 382 metric tons of CO2e (5.67 kg per square foot).

Is there construction at 437 Fifth Avenue?

In the 12 months to September 2026, the Department of Buildings issued first permits for 7 jobs at 437 Fifth Avenue. In the last two years, interior work was permitted on 2 floors (floors 4 and 5). The newest build-out, on floor 5, was first permitted in July 2026 (construction, mechanical, plumbing, sprinklers; filed cost estimate $271,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1008680072. 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 437 Fifth Avenue?

The Department of Finance's 2026/27 assessment roll lists a taxable value of $6.12 million for 437 Fifth Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $664,190 a year, roughly $9.57 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1008680072 show the actual bill.

What is the assessed value of 437 Fifth Avenue?

For tax year 2026/27, the NYC Department of Finance puts the market value of 437 Fifth Avenue at $15.5 million ($9 million of it land) and its assessed value at $7 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 30% from 2022/23 ($12 million) to 2026/27.

Is there office space for lease at 437 Fifth Avenue?

No space at 437 Fifth 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.

1,677 buildings from city records

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