Office building with commercial space · Grand Central, Manhattan
511 Fifth Avenue
New York, NY 10017
511 Fifth Avenue is a 17-floor office building with commercial space in Grand Central, Manhattan, built in 1917, with about 121,000 square feet of office space according to city records.
Also at 2 East 43rd Street and 511-513 Fifth Avenue.
- Office space
- 121K SF
- Floors
- 17
- Year built
- 1917
- Zoning
- C5-3
The 55th largest of the 83 office buildings we track in Grand Central. Compare it with 6 neighbors
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Compared with its neighbors
How 511 Fifth Avenue compares
Next to the 6 nearest large office buildings, all within a 1 minute walk, 511 Fifth Avenue ranks 6th of 7 by office floor area. Built in 1917, it is the oldest of them. Its estimated property tax, about $13.36 a square foot of floor area before abatements, is below the neighbors' median of $21.18.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 511 Fifth Avenue | 121K SF | 17 | 1917 | $13.36 | n/a |
| 505 Fifth Avenue | 231K SF | 28 | 2004 | $24.13 | n/a |
| 521 Fifth Avenue | 372K SF | 38 | 1929 | $18.24 | May 2019, $379M |
| 5 East 42nd Street | 287K SF | 27 | 1968 | $16.96 | Sep 2025, $135M |
| Manufacturers Trust Company Building, 510 Fifth Avenue | 35K SF | 5 | 1954 | $28.62 | Aug 2023, $50M |
| 529 Fifth Avenue | 243K SF | 19 | 1958 | $14.68 | Jun 2023, $108M |
| 330 Madison Avenue | 713K SF | 40 | 1965 | $26.57 | Feb 2020, $900M |
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
- 2 East 43rd Street; 511-513 Fifth Avenue
- ZIP code
- 10017
- Building type
- Office building with commercial space (city class O6)
- Total floor area
- 125,632 SF
- Commercial floor area
- 125,632 SF
- Office
- 120,632 SF
- Retail
- 5,000 SF
- Height
- 17 floors
- Average floor
- About 7,400 SF (floor area divided by floors)
- Year built
- 1917
- Last major alteration
- 1983
- Lot area
- 7,735 SF
- Zoning district
- C5-3
- Built FAR
- 16.24
- Max commercial FAR
- 15
- Tax lot (BBL)
- 1012770069
Nearest subway
- Grand Central-42 St
- 5 Av
- 47-50 Sts-Rockefeller Ctr
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 2 storefronts at 511 Fifth Avenue for December 31, 2025, the newest annual filing the city has published, and none stood vacant that day. A year earlier, 1 of 1 stood vacant.
- Storefronts registered for December 31, 2025
- 2
- Vacant that day
- 0
- Share vacant across Grand Central
- 19.7%
- Share vacant along Fifth Avenue
- 14.0%
- Share vacant citywide
- 9.2%
Vacant on December 31, by year
Need a storefront in Grand Central? Get matchedNYC storefront vacancy report
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 511 FIFTH AVENUE LLC as the owner of record. For tax year 2026/27 the city values 511 Fifth Avenue at $34.4 million and assesses it at $15.5 million. After phase-ins and exemptions its taxable value is $15.5 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 $1.68 million a year before abatements, roughly $13.36 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
- 511 FIFTH AVENUE LLC
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $34,375,000
- Land market value
- $10,200,000
- Assessed value
- $15,468,750
- Estimated yearly tax
- About $1.68 million
- Tax per SF of floor area
- About $13.36
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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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 511 Fifth Avenue. In the last two years, interior work was permitted on 12 floors (floors 1 to 6, 9 to 13 and 15, the cellar, the ground floor, the mezzanine and the sub-cellar). The newest build-out, on floor 13, was first permitted in October 2026 (construction, mechanical; filed cost estimate $414,000).
- New jobs, last 12 months
- 4
- Initial permits, last 12 months
- 14
- Newest job first permitted
- October 2026
- Interior build-outs, last 24 months
- 10
- Floors with interior work, last 24 months
- 1 to 6, 9 to 13 and 15, cellar, ground floor, mezzanine, sub-cellar
- Facade and sidewalk jobs, last 24 months
- 4
Recent build-outs
New jobs by year
Build-outs across Grand CentralWhere 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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Before you sign
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Questions about 511 Fifth Avenue
How big is 511 Fifth Avenue?
511 Fifth Avenue has about 126,000 square feet of floor area in total, including 121,000 square feet of office and 5,000 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 511 Fifth Avenue built?
City records list 1917 as the year built, with a major alteration recorded in 1983. The building is 17 floors tall.
What other addresses does 511 Fifth Avenue have?
City records list 2 East 43rd Street and 511-513 Fifth Avenue on the same tax lot (BBL 1012770069) as 511 Fifth Avenue. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 511 Fifth Avenue?
511 Fifth Avenue is in ZIP code 10017, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 511 Fifth Avenue, New York, NY 10017, in Grand Central.
What is the zoning at 511 Fifth Avenue?
The lot is in the C5-3 zoning district. PLUTO lists a built floor area ratio (FAR) of 16.24 and a maximum commercial FAR of 15 for this lot.
What subway station is closest to 511 Fifth Avenue?
The closest subway station to 511 Fifth Avenue is Grand Central-42 St (the 4, 5, 6, 7 and S trains), about 500 feet away in a straight line, roughly 2 minutes on foot. The MTA lists it as an accessible station. Also nearby: 5 Av (the 7, B, D, F and M trains, connected to 42 St-Bryant Pk), 2 min walk; 47-50 Sts-Rockefeller Ctr (the B, D, F and M trains), 7 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 511 Fifth Avenue?
The NYC Department of Finance's 2026/27 assessment roll lists 511 FIFTH AVENUE LLC as the owner of record of 511 Fifth Avenue (BBL 1012770069). 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.
Is there construction at 511 Fifth Avenue?
In the 12 months to October 2026, the Department of Buildings issued first permits for 4 jobs at 511 Fifth Avenue. In the last two years, interior work was permitted on 12 floors (floors 1 to 6, 9 to 13 and 15, the cellar, the ground floor, the mezzanine and the sub-cellar). The newest build-out, on floor 13, was first permitted in October 2026 (construction, mechanical; filed cost estimate $414,000). These are the Department of Buildings' DOB NOW work permits for tax lot 1012770069. 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 511 Fifth Avenue?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $15.5 million for 511 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 $1.68 million a year, roughly $13.36 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1012770069 show the actual bill.
What is the assessed value of 511 Fifth Avenue?
For tax year 2026/27, the NYC Department of Finance puts the market value of 511 Fifth Avenue at $34.4 million ($10.2 million of it land) and its assessed value at $15.5 million, the 45% of market value the city assesses for Class 4 property. The city's market value fell 8% from 2022/23 ($37.2 million) to 2026/27.
Are there vacant storefronts at 511 Fifth Avenue?
Owners registered 2 storefronts at 511 Fifth Avenue for December 31, 2025, the newest annual filing the city has published, and none stood vacant that day. A year earlier, 1 of 1 stood vacant. 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 511 Fifth Avenue?
No space at 511 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.
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