Office building · Midtown, Manhattan
505 Park Avenue
New York, NY 10022
505 Park Avenue is a 21-floor office building in Midtown, Manhattan, built in 1949, with about 200,000 square feet of office space according to city records.
Also at 101-109 East 59th Street and 503-509 Park Avenue.
- Office space
- 200K SF
- Floors
- 21
- Year built
- 1949
- Zoning
- C5-3
The 166th largest of the 351 office buildings we track in Midtown. Compare it with 6 neighbors
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Compared with its neighbors
How 505 Park Avenue compares
Next to the 6 nearest large office buildings, all within a 1 minute walk, 505 Park Avenue ranks 4th of 7 by office floor area. It went up in 1949; the median neighbor dates from 1965. Its estimated property tax, about $16.05 a square foot of floor area before abatements, is below the neighbors' median of $20.92.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 505 Park Avenue | 200K SF | 21 | 1949 | $16.05 | n/a |
| 111 East 59th Street | 171K SF | 15 | 1962 | $21.91 | Jul 2015, $170M |
| 499 Park Avenue | 263K SF | 27 | 1981 | $27.42 | n/a |
| 111 East 58th Street | 544K SF | 36 | 1969 | $16.53 | n/a |
| Pepsi-Cola Building, 500 Park Avenue | 97K SF | 11 | 1960 | $22.04 | Jan 2025, $68.8M |
| 750 Lexington Avenue | 340K SF | 28 | 1986 | $19.94 | n/a |
| 121 East 60th Street | 50K SF | 11 | 1924 | $17.42 | n/a |
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 addresses
- 101-109 East 59th Street; 503-509 Park Avenue
- ZIP code
- 10022
- Building type
- Office building (city class O4)
- Total floor area
- 220,510 SF
- Commercial floor area
- 220,510 SF
- Office
- 199,659 SF
- Retail
- 20,851 SF
- Height
- 21 floors
- Average floor
- About 10,500 SF (floor area divided by floors)
- Year built
- 1949
- Lot area
- 10,543 SF
- Zoning district
- C5-3
- Built FAR
- 20.92
- Max commercial FAR
- 15
- Tax lot (BBL)
- 1013940001
Nearest subway
- 59 St
- Lexington Av/63 St
- 5 Av/59 St
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 storefront registry (Local Law 157)
Storefronts and vacancy
Owners registered 7 storefronts at 505 Park Avenue for December 31, 2025, the newest annual filing the city has published, and 1 of them stood vacant that day. At least one storefront here has been reported vacant at the end of every year since 2023.
- Storefronts registered for December 31, 2025
- 7
- Vacant that day
- 1
- Share vacant here
- 14.3%
- Share vacant across Midtown
- 14.3%
- Share vacant along Park Avenue
- 11.5%
- Share vacant citywide
- 9.2%
Vacant on December 31, by year
Own or lease out a storefront at 505 Park Avenue? Listing it is free, and it is matched against every active requirement for retail space in Midtown the day it goes up.
Source: NYC Department of Finance, Storefronts Reported Vacant or Not (Local Law 157), annual filings for 2019 to 2025, pulled 2026-10-16. 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 2025 filing was due June 1, 2026, 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
Owner, property tax and assessed value
The Department of Finance lists G.S. 505 PARK as the owner of record. For tax year 2026/27 the city values 505 Park Avenue at $78.4 million and assesses it at $35.3 million. After phase-ins and exemptions its taxable value is $32.6 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 $3.54 million a year before abatements, roughly $16.05 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
- G.S. 505 PARK
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $78,423,000
- Land market value
- $28,400,000
- Assessed value
- $35,290,350
- Taxable value (phased in)
- $32,616,443
- Estimated yearly tax
- About $3.54 million
- Tax per SF of floor area
- About $16.05
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.
Own or manage 505 Park Avenue? List a space here free and we match it against every active requirement. Renting it out yourself? Read the landlord's checklist.
SEC filings (EDGAR)
Companies with offices here
One investment manager gives 505 Park Avenue as its office address in SEC filings.
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
505 Park Avenue reported an ENERGY STAR score of 90 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 43.5 kBtu per square foot, less than half the national median of 89.3 for a similar property. Its greenhouse gas emissions were about 907 metric tons of CO2e (4.3 kg per square foot).
- ENERGY STAR score (2024)
- 90 of 100
- Grade this score earns (Local Law 33)
- A (85 or higher)
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 43.5 kBtu/SF
- National median for the type
- 89.3 kBtu/SF
- Greenhouse gas emissions
- 907 t CO2e
- Emissions per SF
- 4.3 kg CO2e
- Floor area in the filing
- 210,756 SF
- ENERGY STAR certified
- 2016, 2017, 2018, 2019, 2020, 2021, 2022, 2023, 2024, 2025
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, 505 Park Avenue comes to about 656 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 1,667 tons for 2024 to 2029 (39% of the limit), so it would owe no penalty. From 2030 the limit drops to 604 tons and the same energy use counts as about 392 tons, still under the limit.
- Period
- 2024 to 2029
- Emissions limit
- 1,667 t CO2e
- Estimated emissions
- 656 t CO2e
- Under the limit by
- 1,011 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 604 t CO2e
- Estimated emissions
- 392 t CO2e
- Under the limit by
- 212 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: Personal Services (Health/Beauty, Dry Cleaning, etc.) 2,440 SF; Restaurant 1,121 SF; Office 141,358 SF; Medical Office 11,515 SF; Financial Office 37,020 SF; Retail Store 17,302 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 505 Park Avenue? 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 3 jobs at 505 Park Avenue. In the last two years, interior work was permitted on 4 floors (floors 2, 8, 12 and 19). The newest build-out, on floor 2, was first permitted in March 2026 (construction; filed cost estimate $15,000).
- New jobs, last 12 months
- 3
- Initial permits, last 12 months
- 8
- Newest job first permitted
- March 2026
- Interior build-outs, last 24 months
- 4
- Floors with interior work, last 24 months
- 2, 8, 12 and 19
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 2026-10-24 (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.
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Next door, in the Upper East Side
783 Madison 4th Floor
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Questions about 505 Park Avenue
How big is 505 Park Avenue?
505 Park Avenue has about 221,000 square feet of floor area in total, including 200,000 square feet of office and 21,000 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 505 Park Avenue built?
City records list 1949 as the year built. The building is 21 floors tall.
What other addresses does 505 Park Avenue have?
City records list 101-109 East 59th Street and 503-509 Park Avenue on the same tax lot (BBL 1013940001) as 505 Park Avenue. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 505 Park Avenue?
505 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 full mailing address is 505 Park Avenue, New York, NY 10022, in Midtown.
What is the zoning at 505 Park Avenue?
The lot is in the C5-3 zoning district. PLUTO lists a built floor area ratio (FAR) of 20.92 and a maximum commercial FAR of 15 for this lot.
What subway station is closest to 505 Park Avenue?
The closest subway station to 505 Park Avenue is 59 St (the 4, 5, 6, N, R and W trains, connected to Lexington Av/59 St), about 400 feet away in a straight line, roughly 1 minute on foot. Also nearby: Lexington Av/63 St (the M and Q trains), 4 min walk; 5 Av/59 St (the N, R and W trains), 5 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 505 Park Avenue?
The NYC Department of Finance's 2026/27 assessment roll lists G.S. 505 PARK as the owner of record of 505 Park Avenue (BBL 1013940001). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
Who are the tenants at 505 Park Avenue?
Leasemark does not have the building's tenant roster, but SEC filings name companies with offices at 505 Park Avenue. One investment manager files 13F holdings reports from the address: Sycale Advisors (NY) LLC. 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 505 Park Avenue?
505 Park Avenue reported an ENERGY STAR score of 90 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 90 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 43.5 kBtu per square foot, less than half the national median of 89.3 for a similar property. Its greenhouse gas emissions were about 907 metric tons of CO2e (4.3 kg per square foot).
Does 505 Park Avenue meet Local Law 97?
At its 2024 energy use, 505 Park Avenue comes to about 656 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 1,667 tons for 2024 to 2029 (39% of the limit), so it would owe no penalty. From 2030 the limit drops to 604 tons and the same energy use counts as about 392 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 505 Park Avenue?
In the 12 months to October 2026, the Department of Buildings issued first permits for 3 jobs at 505 Park Avenue. In the last two years, interior work was permitted on 4 floors (floors 2, 8, 12 and 19). The newest build-out, on floor 2, was first permitted in March 2026 (construction; filed cost estimate $15,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1013940001. 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 505 Park Avenue?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $32.6 million for 505 Park Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $3.54 million a year, roughly $16.05 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1013940001 show the actual bill.
What is the assessed value of 505 Park Avenue?
For tax year 2026/27, the NYC Department of Finance puts the market value of 505 Park Avenue at $78.4 million ($28.4 million of it land) and its assessed value at $35.3 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 30% from 2022/23 ($60.5 million) to 2026/27.
Are there vacant storefronts at 505 Park Avenue?
Owners registered 7 storefronts at 505 Park Avenue for December 31, 2025, the newest annual filing the city has published, and 1 of them stood vacant that day. At least one storefront here has been reported vacant at the end of every year since 2023. These are the owners' filings with the Department of Finance under Local Law 157, so a storefront vacant on December 31, 2025 may have been leased since. Owners and brokers can list a storefront on Leasemark for free.
Is there office space for lease at 505 Park Avenue?
No space at 505 Park Avenue is listed on Leasemark right now. Nearby on Leasemark: office space for lease at 783 Madison 4th Floor in the Upper East Side (994 SF, $66.40/SF/yr). 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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