Pepsi-Cola Building

The Pepsi-Cola Building has about 103,000 square feet of floor area in total, including 97,000 square feet of office, 6,000 square feet of retail and 0 square feet of industrial and storage space, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.

The Landmarks Preservation Commission's building records date the Pepsi-Cola Building to 1958-1960, designed by Skidmore, Owings & Merrill (Gordon Bunschaft). The building is 11 floors tall.

Skidmore, Owings & Merrill (Gordon Bunschaft), according to the Landmarks Preservation Commission's building records, which list the style as International Style and its original use as an office building.

Yes. The Landmarks Preservation Commission designated the Pepsi-Cola Building an individual landmark on June 20, 1995 (LP-01920). Changes to a designated landmark, including many storefront, window and signage changes, need a permit from the Commission.

The Pepsi-Cola Building is at 500 Park Avenue in Midtown, Manhattan. City records list 62 East 59th Street and 500 Park Avenue Tower on the same tax lot (BBL 1012940037). A space listed on Leasemark at any of these addresses shows up on this page.

500 Park Avenue 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 Pepsi-Cola Building is at 500 Park Avenue, New York, NY 10022, in Midtown.

The lot is in the C5-3 zoning district. PLUTO lists a built floor area ratio (FAR) of 8.22 and a maximum commercial FAR of 15 for this lot.

The closest subway station to the Pepsi-Cola Building is 59 St (the 4, 5, 6, N, R and W trains, connected to Lexington Av/59 St), about 650 feet away in a straight line, roughly 3 minutes on foot. Also nearby: 5 Av/59 St (the N, R and W trains), 4 min walk; Lexington Av/63 St (the M and Q trains), 5 min walk. Walking times are straight-line estimates; the street route is longer.

The NYC Department of Finance's 2026/27 assessment roll lists 500 PARK COMMERCIAL OWNER LLC as the owner of record of the Pepsi-Cola Building (BBL 1012940037). 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.

The Pepsi-Cola Building last sold in January 2025 for $68.8 million, according to the deed recorded with the city. PPF OFF 500 PARK AVENUE, LLC sold it to 500 PARK COMMERCIAL OWNER LLC. That comes to about $667 per square foot of floor area. The deed is ACRIS document 2025012401000004 (BBL 1012940037) in the city's property records. A sale of the company that owns a building is not recorded as a deed, so it would not show there.

The Pepsi-Cola Building's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score, and Local Law 33 letter grades come from that score, so the filing does not yield an A to D grade. Its site energy use came to 103.5 kBtu per square foot, 71% above the national median of 60.7 for a similar property. Its greenhouse gas emissions were about 3,208 metric tons of CO2e (9.2 kg per square foot). The filing covers 2 tax lots together, so these figures are for the whole property.

In the 12 months to September 2026, the Department of Buildings issued first permits for 13 jobs at the Pepsi-Cola Building. In the last two years, interior work was permitted on 8 floors (floors 2, 6, 8, 9, 13, 15, 16 and 24, the cellar and the lobby). The newest build-out, on floor 15, was first permitted in June 2026 (construction, mechanical, plumbing; filed cost estimate $190,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1012940037. A permit is approval to do the work; it does not say who the work is for or whether it is finished.

The Department of Finance's 2026/27 assessment roll lists a taxable value of $21 million for the Pepsi-Cola Building. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $2.27 million a year, roughly $22.04 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1012940037 show the actual bill.

For tax year 2026/27, the NYC Department of Finance puts the market value of the Pepsi-Cola Building at $46.6 million ($12.1 million of it land) and its assessed value at $21 million, the 45% of market value the city assesses for Class 4 property. The city's market value fell 10% from 2022/23 ($51.8 million) to 2026/27.

Owners registered 2 storefronts at the Pepsi-Cola Building for December 31, 2024, the newest annual filing the city has published, and none stood 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.

No space at 500 Park 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.