Self-storage building · Chelsea, Manhattan
524 West 23rd Street
New York, NY 10011
524 West 23rd Street is a 10-floor self-storage building in Chelsea, Manhattan, built in 1931, with about 128,000 square feet of industrial and storage space according to city records.
Also at 524-534 West 23rd Street.
- Industrial and storage space
- 128K SF
- Floors
- 10
- Year built
- 1931
- Zoning
- C6-3A
The largest of the 3 industrial and storage buildings we track in Chelsea. Compare it with 6 neighbors
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Compared with its neighbors
How 524 West 23rd Street compares
Next to the 6 nearest large industrial and storage buildings, all within a 13 minute walk, 524 West 23rd Street ranks 3rd of 7 by industrial and storage floor area. Built in 1931, it is the newest of them. Its estimated property tax, about $7.57 a square foot of floor area before abatements, is close to the neighbors' median of $7.91.
| Building | Industrial and storage space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 524 West 23rd Street | 128K SF | 10 | 1931 | $7.57 | Dec 2021, $132M |
| 510 West 21st Street | 123K SF | 8 | 1928 | $6.99 | Dec 2021, $95.2M |
| 525 West 20th Street | 95K SF | 9 | 1913 | $5.09 | n/a |
| 510 West 27th Street | 40K SF | 6 | 1910 | $8.02 | n/a |
| 99 Tenth Avenue | 189K SF | 11 | 1917 | $9.97 | n/a |
| 302 Eleventh Avenue | 213K SF | 9 | 1913 | $7.79 | Dec 2021, $234M |
| 463 Tenth Avenue | 44K SF | 6 | 1911 | $14.98 | Dec 2025, $52M |
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 address
- 524-534 West 23rd Street
- ZIP code
- 10011
- Building type
- Self-storage building (city class E7)
- Total floor area
- 141,934 SF
- Commercial floor area
- 141,934 SF
- Office
- 14,190 SF
- Industrial and storage
- 127,744 SF
- Height
- 10 floors
- Average floor
- About 14,200 SF (floor area divided by floors)
- Year built
- 1931
- Last major alteration
- 1986
- Lot area
- 14,318 SF
- Zoning district
- C6-3A
- Built FAR
- 9.91
- Max commercial FAR
- 6
- Tax lot (BBL)
- 1006940047
Nearest subway
- 23 St
- 14 St
- 34 St-Hudson Yards
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 Department of Finance records
Owner, property tax and assessed value
The Department of Finance lists SM I MMS, L.L.C. as the owner of record. For tax year 2026/27 the city values 524 West 23rd Street at $32.5 million and assesses it at $14.6 million. After phase-ins and exemptions its taxable value is $9.9 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 $1.07 million a year before abatements, roughly $7.57 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
- SM I MMS, L.L.C.
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $32,549,000
- Land market value
- $2,792,000
- Assessed value
- $14,647,050
- Taxable value (phased in)
- $9,901,400
- Estimated yearly tax
- About $1.07 million
- Tax per SF of floor area
- About $7.57
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 property records (ACRIS)
Sales history
524 West 23rd Street last sold in December 2021 for $132.1 million, according to the deed recorded with the city. GRAND LAFAYETTE PROPERTIES LLC sold it to SM I MMS, L.L.C.. That comes to about $931 per square foot of floor area.
- Last sale (deed date)
- December 16, 2021
- Price
- $132,100,000
- Price per SF of floor area
- About $931
- Seller
- GRAND LAFAYETTE PROPERTIES LLC
- Buyer
- SM I MMS, L.L.C.
- Deed recorded
- December 29, 2021
- ACRIS document
- 2021121700645010
Recorded sales
Source: NYC Department of Finance, ACRIS, Real Property Master, Legals and Parties, pulled 2026-10-16; prices as the deeds state them, names as recorded (companies and public bodies only). Shown are deeds that move the whole lot for a real price. Transfers between related companies for a nominal sum, sales of partial interests, land sales before the building went up and sales of the company that owns a building are left out.
NYC energy benchmarking (Local Law 84)
Energy use and emissions
524 West 23rd Street's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score (no single use that ENERGY STAR scores covers more than half of the floor area), 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 39.1 kBtu per square foot, 13% above the national median of 34.7 for a similar property. Its greenhouse gas emissions were about 359 metric tons of CO2e (2.53 kg per square foot).
- ENERGY STAR score (2024)
- None given
- Property type (Portfolio Manager)
- Self-Storage Facility
- Site energy use intensity
- 39.1 kBtu/SF
- National median for the type
- 34.7 kBtu/SF
- Greenhouse gas emissions
- 359 t CO2e
- Emissions per SF
- 2.53 kg CO2e
- Floor area in the filing
- 141,935 SF
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.
Local Law 97 of 2019, estimated
Local Law 97 emissions limit
At its 2024 energy use, 524 West 23rd Street comes to about 327 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 605 tons for 2024 to 2029 (54% of the limit), so it would owe no penalty. From 2030 the limit drops to 87 tons and the same energy use counts as about 283 tons, about 196 tons over, or an estimated $53,000 a year unless the building cuts its emissions.
- Period
- 2024 to 2029
- Emissions limit
- 605 t CO2e
- Estimated emissions
- 327 t CO2e
- Under the limit by
- 277 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 87 t CO2e
- Estimated emissions
- 283 t CO2e
- Over the limit by
- 196 t CO2e
- Estimated penalty a year
- $53,000
Estimated from the owner's 2024 Local Law 84 filing, which reports energy by source and floor area by use: Self-Storage Facility 141,935 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.
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Questions about 524 West 23rd Street
How big is 524 West 23rd Street?
524 West 23rd Street has about 142,000 square feet of floor area in total, including 14,000 square feet of office and 128,000 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.
When was 524 West 23rd Street built?
City records list 1931 as the year built, with a major alteration recorded in 1986. The building is 10 floors tall.
What other addresses does 524 West 23rd Street have?
City records list 524-534 West 23rd Street on the same tax lot (BBL 1006940047) as 524 West 23rd Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 524 West 23rd Street?
524 West 23rd Street is in ZIP code 10011, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 524 West 23rd Street, New York, NY 10011, in Chelsea.
What is the zoning at 524 West 23rd Street?
The lot is in the C6-3A zoning district. PLUTO lists a built floor area ratio (FAR) of 9.91 and a maximum commercial FAR of 6 for this lot.
What subway station is closest to 524 West 23rd Street?
The closest subway station to 524 West 23rd Street is 23 St (the C and E trains), about 0.4 miles away in a straight line, roughly 8 minutes on foot. Also nearby: 14 St (the A, C, E and L trains, connected to 8 Av), 11 min walk; 34 St-Hudson Yards (the 7 train), 12 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 524 West 23rd Street?
The NYC Department of Finance's 2026/27 assessment roll lists SM I MMS, L.L.C. as the owner of record of 524 West 23rd Street (BBL 1006940047). 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.
When was 524 West 23rd Street last sold?
524 West 23rd Street last sold in December 2021 for $132.1 million, according to the deed recorded with the city. GRAND LAFAYETTE PROPERTIES LLC sold it to SM I MMS, L.L.C.. That comes to about $931 per square foot of floor area. The deed is ACRIS document 2021121700645010 (BBL 1006940047) 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.
Does 524 West 23rd Street have an energy grade?
524 West 23rd Street's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score (no single use that ENERGY STAR scores covers more than half of the floor area), 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 39.1 kBtu per square foot, 13% above the national median of 34.7 for a similar property. Its greenhouse gas emissions were about 359 metric tons of CO2e (2.53 kg per square foot).
Does 524 West 23rd Street meet Local Law 97?
At its 2024 energy use, 524 West 23rd Street comes to about 327 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 605 tons for 2024 to 2029 (54% of the limit), so it would owe no penalty. From 2030 the limit drops to 87 tons and the same energy use counts as about 283 tons, about 196 tons over, or an estimated $53,000 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.
What are the property taxes at 524 West 23rd Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $9.9 million for 524 West 23rd Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $1.07 million a year, roughly $7.57 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1006940047 show the actual bill.
What is the assessed value of 524 West 23rd Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 524 West 23rd Street at $32.5 million ($2.79 million of it land) and its assessed value at $14.6 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 83% from 2022/23 ($17.8 million) to 2026/27.
Is there industrial and storage space for lease at 524 West 23rd Street?
No space at 524 West 23rd 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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