Factory and industrial building · Garment District, Manhattan
554 Eighth Avenue
New York, NY 10018
554 Eighth Avenue is a 21-floor factory and industrial building in the Garment District, Manhattan, built in 1924, with about 228,000 square feet of industrial and storage space according to city records.
Also at 554-568 Eighth Avenue and 270-278 West 38th Street.
- Industrial and storage space
- 228K SF
- Floors
- 21
- Year built
- 1924
- Zoning
- M1-9A
The largest of the 7 industrial and storage buildings we track in the Garment District. Compare it with 6 neighbors
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Compared with its neighbors
How 554 Eighth Avenue compares
Next to the 6 nearest large industrial and storage buildings, all within a 3 minute walk, 554 Eighth Avenue is the largest by industrial and storage floor area. It went up in 1924; the median neighbor dates from 1925. Its estimated property tax, about $12.24 a square foot of floor area before abatements, is above the neighbors' median of $6.75.
| Building | Industrial and storage space | Floors | Built | Tax / SF |
|---|---|---|---|---|
| 554 Eighth Avenue | 228K SF | 21 | 1924 | $12.24 |
| 257 West 38th Street | 74K SF | 16 | 1927 | $8.66 |
| 247 West 38th Street | 86K SF | 17 | 1924 | $6.07 |
| 306 West 38th Street | 69K SF | 16 | 1927 | $10.10 |
| 244 West 39th Street | 44K SF | 14 | 1927 | $6.04 |
| 329 West 36th Street | 103K SF | 12 | 1924 | $4.68 |
| 254 West 35th Street | 107K SF | 16 | 1924 | $7.42 |
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). 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
- 554-568 Eighth Avenue; 270-278 West 38th Street
- ZIP code
- 10018
- Building type
- Factory and industrial building (city class F9)
- Total floor area
- 255,696 SF
- Commercial floor area
- 255,696 SF
- Retail
- 28,011 SF
- Industrial and storage
- 227,685 SF
- Height
- 21 floors
- Average floor
- About 12,200 SF (floor area divided by floors)
- Year built
- 1924
- Last major alteration
- 1972
- Lot area
- 13,166 SF
- Zoning district
- M1-9A
- Built FAR
- 19.42
- Max commercial FAR
- 15
- Tax lot (BBL)
- 1007870084
Nearest subway
- 34 St-Penn Station
- Times Sq-42 St
- 34 St-Penn Station
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 6 storefronts at 554 Eighth Avenue for December 31, 2025, the newest annual filing the city has published, and all of them stood vacant that day. At least one storefront here has been reported vacant at the end of every year since 2019.
- Storefronts registered for December 31, 2025
- 6
- Vacant that day
- 6
- Share vacant here
- 100.0%
- Share vacant across the Garment District
- 13.7%
- Share vacant along Eighth Avenue
- 16.1%
- Share vacant citywide
- 9.2%
Vacant on December 31, by year
Own or lease out a storefront at 554 Eighth Avenue? Listing it is free, and it is matched against every active requirement for retail space in the Garment District 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 270 REALTY LLC as the owner of record. For tax year 2026/27 the city values 554 Eighth Avenue at $71 million and assesses it at $31.9 million. After phase-ins and exemptions its taxable value is $28.9 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 $3.13 million a year before abatements, roughly $12.24 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
- 270 REALTY LLC
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $70,999,000
- Land market value
- $5,750,000
- Assessed value
- $31,949,550
- Taxable value (phased in)
- $28,851,480
- Estimated yearly tax
- About $3.13 million
- Tax per SF of floor area
- About $12.24
City market value by tax year
Manage or lease this building? Claim this page. Requests are reviewed by hand.
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 554 Eighth Avenue? List a space here free and we match it against every active requirement. Renting it out yourself? Read the landlord's checklist.
NYC energy benchmarking (Local Law 84)
Energy use and emissions
554 Eighth Avenue'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 1.7 kBtu per square foot. Its greenhouse gas emissions were about 42.7 metric tons of CO2e (0.16 kg per square foot).
- ENERGY STAR score (2024)
- None given
- Property type (Portfolio Manager)
- Manufacturing/Industrial Plant
- Site energy use intensity
- 1.7 kBtu/SF
- Greenhouse gas emissions
- 42.7 t CO2e
- Emissions per SF
- 0.16 kg CO2e
- Floor area in the filing
- 272,142 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, 554 Eighth Avenue comes to about 34 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 2,062 tons for 2024 to 2029 (2% of the limit), so it would owe no penalty. From 2030 the limit drops to 387 tons and the same energy use counts as about 22 tons, still under the limit.
- Period
- 2024 to 2029
- Emissions limit
- 2,062 t CO2e
- Estimated emissions
- 34 t CO2e
- Under the limit by
- 2,028 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 387 t CO2e
- Estimated emissions
- 22 t CO2e
- Under the limit by
- 365 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: Convenience Store without Gas Station 500 SF; Manufacturing/Industrial Plant 271,642 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 554 Eighth Avenue? List a space here free and we match it against every active requirement.
NYC Department of Buildings permits
Work permits and build-outs
The Department of Buildings issued no permits for new jobs at 554 Eighth Avenue in the 12 months to October 2026; the last one was first permitted in December 2022.
- New jobs, last 12 months
- 0
- Initial permits, last 12 months
- 0
- Newest job first permitted
- December 2022
- Interior build-outs, last 24 months
- 0
New jobs by year
Build-outs across the Garment DistrictWhere 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.
No industrial and storage space listed in the Garment District yet
Own or broker space at 554 Eighth Avenue? List it free: it shows on this page and is matched against every active requirement the day it goes up.
Before you sign
Plain-English guides to square footage, rent and lease terms in New York, and free calculators to run your own numbers.
How much is commercial rent in NYC? Per square foot, by borough
What NYC office, retail and industrial buildings collect per square foot in each borough, from the city's own filings, with the monthly math and the costs on top of rent.
What does $/SF/yr mean? How to calculate rent per square foot
$/SF/yr is a year's rent for one square foot. How to turn it into a monthly bill, spot a monthly quote, and see what the rate leaves out before you compare spaces.
Tenant rep broker or going direct? Leasing in NYC
Should you hire a tenant rep broker or deal with landlords directly? Who pays commissions in NYC, what a tenant rep does, and how to choose one.
Questions about 554 Eighth Avenue
How big is 554 Eighth Avenue?
554 Eighth Avenue has about 256,000 square feet of floor area in total, including 28,000 square feet of retail and 228,000 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 554 Eighth Avenue built?
City records list 1924 as the year built, with a major alteration recorded in 1972. The building is 21 floors tall.
What other addresses does 554 Eighth Avenue have?
City records list 554-568 Eighth Avenue and 270-278 West 38th Street on the same tax lot (BBL 1007870084) as 554 Eighth Avenue. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 554 Eighth Avenue?
554 Eighth Avenue is in ZIP code 10018, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 554 Eighth Avenue, New York, NY 10018, in the Garment District.
What is the zoning at 554 Eighth Avenue?
The lot is in the M1-9A zoning district. PLUTO lists a built floor area ratio (FAR) of 19.42 and a maximum commercial FAR of 15 for this lot.
What subway station is closest to 554 Eighth Avenue?
The closest subway station to 554 Eighth Avenue is 34 St-Penn Station (the A, C and E trains), about 950 feet away in a straight line, roughly 4 minutes on foot. The MTA lists it as an accessible station. Also nearby: Times Sq-42 St (the 1, 2, 3, 7, N, Q, R, W, S, A, C and E trains, connected to 42 St-Port Authority Bus Terminal), 4 min walk; 34 St-Penn Station (the 1, 2 and 3 trains), 6 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 554 Eighth Avenue?
The NYC Department of Finance's 2026/27 assessment roll lists 270 REALTY LLC as the owner of record of 554 Eighth Avenue (BBL 1007870084). 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.
Does 554 Eighth Avenue have an energy grade?
554 Eighth Avenue'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 1.7 kBtu per square foot. Its greenhouse gas emissions were about 42.7 metric tons of CO2e (0.16 kg per square foot).
Does 554 Eighth Avenue meet Local Law 97?
At its 2024 energy use, 554 Eighth Avenue comes to about 34 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 2,062 tons for 2024 to 2029 (2% of the limit), so it would owe no penalty. From 2030 the limit drops to 387 tons and the same energy use counts as about 22 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 554 Eighth Avenue?
The Department of Buildings issued no permits for new jobs at 554 Eighth Avenue in the 12 months to October 2026; the last one was first permitted in December 2022. These are the Department of Buildings' DOB NOW work permits for tax lot 1007870084. 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 554 Eighth Avenue?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $28.9 million for 554 Eighth Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $3.13 million a year, roughly $12.24 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 1007870084 show the actual bill.
What is the assessed value of 554 Eighth Avenue?
For tax year 2026/27, the NYC Department of Finance puts the market value of 554 Eighth Avenue at $71 million ($5.75 million of it land) and its assessed value at $31.9 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 26% from 2022/23 ($56.1 million) to 2026/27.
Are there vacant storefronts at 554 Eighth Avenue?
Owners registered 6 storefronts at 554 Eighth Avenue for December 31, 2025, the newest annual filing the city has published, and all of them stood vacant that day. At least one storefront here has been reported vacant at the end of every year since 2019. 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 industrial and storage space for lease at 554 Eighth Avenue?
No space at 554 Eighth 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.
2,723 buildings from city records
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Garment District
Transit hubs in the Garment District
- B D F M N Q R W at 34 St-Herald Sq
- 1 2 3 at 34 St-Penn Station