Want · Office
Law firm relocation near Grand Central
Posted by a tenant rep broker · Legal
- Where
- Grand Central, Midtown
- Size
- 7,000 to 10,000 SF
- Budget
- to $110/SF
- Move in
- May 2027
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Office building · Midtown, Manhattan
5 East 57th Street
New York, NY 10022
5 East 57th Street is a 22-floor office building in Midtown, Manhattan, built in 1926, with about 40,000 square feet of office space according to city records.
- Office space
- 40K SF
- Floors
- 22
- Year built
- 1926
- Zoning
- C5-3
The 342nd largest of the 351 office buildings we track in Midtown. Compare it with 6 neighbors
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Compared with its neighbors
How 5 East 57th Street compares
Next to the 6 nearest large office buildings, all within a 1 minute walk, 5 East 57th Street is the smallest by office floor area. It went up in 1926; the median neighbor dates from 1948. Its estimated property tax, about $52.10 a square foot of floor area before abatements, is above the neighbors' median of $25.69.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 5 East 57th Street | 40K SF | 22 | 1926 | $52.10 | n/a |
| 737 Fifth Avenue | 63K SF | 16 | 1931 | $27.86 | n/a |
| 745 Fifth Avenue | 393K SF | 34 | 1930 | $26.77 | n/a |
| 19 East 57th Street | 95K SF | 24 | 1998 | $23.70 | n/a |
| 600 Madison Avenue | 304K SF | 25 | 1965 | $24.08 | Aug 2013, $210M |
| 592 Madison Avenue | 65K SF | 15 | 1921 | $45.33 | n/a |
| 590 Madison Avenue | 942K SF | 43 | 1981 | $24.60 | Aug 2025, $1.1B (3 lots) |
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
- ZIP code
- 10022
- Building type
- Office building (city class O4)
- Total floor area
- 48,998 SF
- Commercial floor area
- 48,998 SF
- Office
- 39,547 SF
- Retail
- 9,450 SF
- Height
- 22 floors
- Average floor
- About 2,200 SF (floor area divided by floors)
- Year built
- 1926
- Last major alteration
- 1990
- Lot area
- 3,012 SF
- Zoning district
- C5-3
- Built FAR
- 16.27
- Max commercial FAR
- 15
- Tax lot (BBL)
- 1012930007
Nearest subway
- 5 Av/59 St
- 5 Av/53 St
- 57 St
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-05; subway stations from the MTA Subway Stations dataset, pulled 2026-10-05. 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 storefront registry (Local Law 157)
Storefronts and vacancy
Owners registered one storefront at 5 East 57th Street for December 31, 2024, the newest annual filing the city has published, and it was not vacant that day.
- Storefronts registered for December 31, 2024
- 1
- Vacant that day
- 0
- Share vacant across Midtown
- 14.0%
- Share vacant along East 57th Street
- 19.7%
- Share vacant citywide
- 8.7%
Vacant on December 31, by year
Need a storefront in Midtown? Get matchedStorefront vacancy across New York City
Source: NYC Department of Finance, Storefronts Reported Vacant or Not (Local Law 157), annual filings for 2019 to 2024, pulled 2026-10-08. Owners of buildings with ground- or second-floor storefronts register each one every year with its status on December 31; counts are by tax lot, as the owners filed them. The 2024 filing was due June 3, 2025, so a storefront vacant then may have been leased since. A vacant storefront is not always on the market, and none here is listed on Leasemark unless it shows above.
NYC Department of Finance records
Property tax and assessed value
For tax year 2026/27 the city values 5 East 57th Street at $59 million and assesses it at $26.5 million. After phase-ins and exemptions its taxable value is $23.5 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 $2.55 million a year before abatements, roughly $52.10 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.
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $58,955,000
- Land market value
- $9,700,000
- Assessed value
- $26,529,750
- Taxable value (phased in)
- $23,531,850
- Estimated yearly tax
- About $2.55 million
- Tax per SF of floor area
- About $52.10
City market value by tax year
Source: NYC Department of Finance, Property Valuation and Assessment Data (2026/27 roll), pulled 2026-10-08; 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.
Own or manage 5 East 57th Street? List a space here free and we match it against every active requirement.
NYC energy benchmarking (Local Law 84)
Energy score, grade and emissions
5 East 57th Street reported an ENERGY STAR score of 37 out of 100 for 2024 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns a D (under 55). Its site energy use came to 90.4 kBtu per square foot, 17% above the national median of 77.3 for a similar property. Its greenhouse gas emissions were about 414 metric tons of CO2e (8.45 kg per square foot).
- ENERGY STAR score (2024)
- 37 of 100
- Grade this score earns (Local Law 33)
- D (under 55)
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 90.4 kBtu/SF
- National median for the type
- 77.3 kBtu/SF
- Greenhouse gas emissions
- 414 t CO2e
- Emissions per SF
- 8.45 kg CO2e
- Floor area in the filing
- 48,997 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 2026-10-08; 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, 5 East 57th Street comes to about 297 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 371 tons for 2024 to 2029 (80% of the limit), so it would owe no penalty. From 2030 the limit drops to 132 tons and the same energy use counts as about 190 tons, about 58 tons over, or an estimated $15,000 a year unless the building cuts its emissions.
- Period
- 2024 to 2029
- Emissions limit
- 371 t CO2e
- Estimated emissions
- 297 t CO2e
- Under the limit by
- 74 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 132 t CO2e
- Estimated emissions
- 190 t CO2e
- Over the limit by
- 58 t CO2e
- Estimated penalty a year
- $15,000
Estimated from the owner's 2024 Local Law 84 filing, which reports energy by source and floor area by use: Office 48,997 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.
Own or manage 5 East 57th 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 5 East 57th Street. In the last two years, interior work was permitted on 9 floors (floors 1 to 4, 11, 15, 16, 18 and 20 and the cellar). The newest build-out, on floor 16, was first permitted in September 2026 (construction; filed cost estimate $100,000). A sidewalk shed permit here is active until October 15, 2026.
- New jobs, last 12 months
- 6
- Initial permits, last 12 months
- 7
- Newest job first permitted
- September 2026
- Interior build-outs, last 24 months
- 6
- Floors with interior work, last 24 months
- 1 to 4, 11, 15, 16, 18 and 20, cellar
- Facade and sidewalk jobs, last 24 months
- 2
- Sidewalk shed permit
- Active until Oct 15, 2026
Recent build-outs
New jobs by year
Build-outs across MidtownWhere NYC offices are being built out
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-08 (permits issued through 2026-10-06). 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 5 East 57th Street and we match it against every new one automatically.
Want · Office
Hedge fund, Hudson Yards or Plaza
Posted by a tenant rep broker · Finance
- Where
- Hudson Yards, Midtown
- Size
- 15,000 to 22,000 SF
- Budget
- to $140/SF
- Move in
- Jul 2027
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Questions about 5 East 57th Street
How big is 5 East 57th Street?
5 East 57th Street has about 49,000 square feet of floor area in total, including 40,000 square feet of office and 9,000 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 5 East 57th Street built?
City records list 1926 as the year built, with a major alteration recorded in 1990. The building is 22 floors tall.
What is the ZIP code of 5 East 57th Street?
5 East 57th Street is in ZIP code 10022, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 5 East 57th Street, New York, NY 10022, in Midtown.
What is the zoning at 5 East 57th Street?
The lot is in the C5-3 zoning district. PLUTO lists a built floor area ratio (FAR) of 16.27 and a maximum commercial FAR of 15 for this lot.
What subway station is closest to 5 East 57th Street?
The closest subway station to 5 East 57th Street is 5 Av/59 St (the N, R and W trains), about 700 feet away in a straight line, roughly 3 minutes on foot. Also nearby: 5 Av/53 St (the E and F trains), 4 min walk; 57 St (the M train), 5 min walk. Walking times are straight-line estimates; the street route is longer.
What is the energy grade of 5 East 57th Street?
5 East 57th Street reported an ENERGY STAR score of 37 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 37 earns a D. 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 90.4 kBtu per square foot, 17% above the national median of 77.3 for a similar property. Its greenhouse gas emissions were about 414 metric tons of CO2e (8.45 kg per square foot).
Does 5 East 57th Street meet Local Law 97?
At its 2024 energy use, 5 East 57th Street comes to about 297 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 371 tons for 2024 to 2029 (80% of the limit), so it would owe no penalty. From 2030 the limit drops to 132 tons and the same energy use counts as about 190 tons, about 58 tons over, or an estimated $15,000 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.
Is there construction at 5 East 57th Street?
In the 12 months to October 2026, the Department of Buildings issued first permits for 6 jobs at 5 East 57th Street. In the last two years, interior work was permitted on 9 floors (floors 1 to 4, 11, 15, 16, 18 and 20 and the cellar). The newest build-out, on floor 16, was first permitted in September 2026 (construction; filed cost estimate $100,000). A sidewalk shed permit here is active until October 15, 2026. These are the Department of Buildings' DOB NOW work permits for tax lot 1012930007. 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 5 East 57th Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $23.5 million for 5 East 57th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $2.55 million a year, roughly $52.10 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1012930007 show the actual bill.
What is the assessed value of 5 East 57th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 5 East 57th Street at $59 million ($9.7 million of it land) and its assessed value at $26.5 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 27% from 2022/23 ($46.5 million) to 2026/27.
Are there vacant storefronts at 5 East 57th Street?
Owners registered one storefront at 5 East 57th Street for December 31, 2024, the newest annual filing the city has published, and it was not vacant that day. These are the owners' filings with the Department of Finance under Local Law 157, so a storefront may have come free since. Owners and brokers can list a storefront on Leasemark for free.
Is there office space for lease at 5 East 57th Street?
No space at 5 East 57th 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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