Office building · Murray Hill, Manhattan
656 First Avenue
New York, NY 10016
656 First Avenue is a 7-floor office building in Murray Hill, Manhattan, built in 1948, with about 99,000 square feet of office space according to city records.
Also at 400-408 East 38th Street and 656-662 First Avenue.
- Office space
- 99K SF
- Floors
- 7
- Year built
- 1948
- Zoning
- C1-9
The 22nd largest of the 24 office buildings we track in Murray Hill. Compare it with 6 neighbors
No space at 656 First Avenue is listed on Leasemark yet. Own or broker space here? List it free and it is matched against every active requirement the day it goes up, or import a spreadsheet of up to 50 spaces at once.
Compared with its neighbors
How 656 First Avenue compares
Next to the 6 nearest large office buildings, all within a 6 minute walk, 656 First Avenue is the smallest by office floor area. It went up in 1948; the median neighbor dates from 1947. Its property tax is fully exempt on the city's assessment roll.
| Building | Office space | Floors | Built | Tax / SF |
|---|---|---|---|---|
| 656 First Avenue | 99K SF | 7 | 1948 | Exempt |
| 673 First Avenue | 330K SF | 13 | 1928 | $0.88 |
| 321 East 34th Street | 106K SF | 12 | 1910 | $19.42 |
| 240 East 38th Street | 396K SF | 24 | 2012 | $3.60 |
| 300 East 42nd Street | 177K SF | 17 | 1964 | $17.36 |
| Ford Foundation Building, 320 East 43rd Street | 299K SF | 11 | 1967 | Exempt |
| Daily News Building, 220 East 42nd Street | 820K SF | 37 | 1930 | $11.05 |
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 50,000 SF of the building's main use. Walking times are straight-line estimates.
NYC tax lot records
Building facts
- Other addresses
- 400-408 East 38th Street; 656-662 First Avenue
- ZIP code
- 10016
- Building type
- Office building (city class O3)
- Total floor area
- 98,940 SF
- Commercial floor area
- 98,940 SF
- Office
- 98,940 SF
- Height
- 7 floors
- Average floor
- About 14,100 SF (floor area divided by floors)
- Year built
- 1948
- Last major alteration
- 1984
- Lot area
- 13,114 SF
- Zoning district
- C1-9
- Built FAR
- 7.54
- Max commercial FAR
- 2
- Tax lot (BBL)
- 1009690005
Nearest subway
- Grand Central-42 St
- 33 St
- 28 St
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-09-30; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-02. 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 NYU HOSPITALS CENTER as the owner of record. For tax year 2026/27 the city values 656 First Avenue at $25.4 million and assesses it at $11.4 million. Exemptions on the roll cover the whole taxable value, which is common for government, nonprofit and payment-in-lieu-of-taxes properties.
- Owner of record
- NYU HOSPITALS CENTER
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $25,377,000
- Land market value
- $12,000,000
- Assessed value
- $11,419,650
- Exemptions
- $11,419,650
- Estimated yearly tax
- Fully exempt on the roll
City market value by tax year
Source: 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 2026-10-02. Exempt properties can still owe charges or payments in lieu of taxes that the roll does not show.
NYC energy benchmarking (Local Law 84)
Energy use and emissions
656 First 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 206.6 kBtu per square foot, 38% above the national median of 149.2 for a similar property. Its greenhouse gas emissions were about 2,131 metric tons of CO2e (19.58 kg per square foot).
- ENERGY STAR score (2024)
- None given
- Property type (Portfolio Manager)
- Laboratory
- Site energy use intensity
- 206.6 kBtu/SF
- National median for the type
- 149.2 kBtu/SF
- Greenhouse gas emissions
- 2,131 t CO2e
- Emissions per SF
- 19.58 kg CO2e
- Floor area in the filing
- 108,821 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 2026-10-02; grade cutoffs from the Department of Buildings energy grades page. Figures are as the owner filed them in ENERGY STAR Portfolio Manager.
NYC Department of Buildings permits
Work permits and build-outs
In the 12 months to September 2026, the Department of Buildings issued first permits for 1 job at 656 First Avenue. In the last two years, interior work was permitted on 4 floors (floors 1 and 5 to 7 and the cellar). The newest build-out, on floor 1, the cellar, the facade and the roof, was first permitted in February 2026 (construction, mechanical, structural; filed cost estimate $750,000). A sidewalk shed permit here is active until October 13, 2026.
- New jobs, last 12 months
- 1
- Initial permits, last 12 months
- 3
- Newest job first permitted
- February 2026
- Interior build-outs, last 24 months
- 4
- Floors with interior work, last 24 months
- 1 and 5 to 7, cellar
- Sidewalk shed permit
- Active until Oct 13, 2026
Recent build-outs
New jobs by year
Build-outs across Murray HillWhere NYC offices are being built out
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-02 (permits issued through 2026-09-30). 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.
Before you sign
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Questions about 656 First Avenue
How big is 656 First Avenue?
656 First Avenue has about 99,000 square feet of floor area in total, including 99,000 square feet of office, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.
When was 656 First Avenue built?
City records list 1948 as the year built, with a major alteration recorded in 1984. The building is 7 floors tall.
What other addresses does 656 First Avenue have?
City records list 400-408 East 38th Street and 656-662 First Avenue on the same tax lot (BBL 1009690005) as 656 First Avenue. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 656 First Avenue?
656 First Avenue is in ZIP code 10016, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 656 First Avenue, New York, NY 10016, in Murray Hill.
What is the zoning at 656 First Avenue?
The lot is in the C1-9 zoning district. PLUTO lists a built floor area ratio (FAR) of 7.54 and a maximum commercial FAR of 2 for this lot.
What subway station is closest to 656 First Avenue?
The closest subway station to 656 First Avenue is Grand Central-42 St (the 4, 5, 6, 7 and S trains), about 0.4 miles away in a straight line, roughly 9 minutes on foot. The MTA lists it as an accessible station. Also nearby: 33 St (the 6 train), 11 min walk; 28 St (the 6 train), 14 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 656 First Avenue?
The NYC Department of Finance's 2026/27 assessment roll lists NYU HOSPITALS CENTER as the owner of record of 656 First Avenue (BBL 1009690005). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
Does 656 First Avenue have an energy grade?
656 First 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 206.6 kBtu per square foot, 38% above the national median of 149.2 for a similar property. Its greenhouse gas emissions were about 2,131 metric tons of CO2e (19.58 kg per square foot).
Is there construction at 656 First Avenue?
In the 12 months to September 2026, the Department of Buildings issued first permits for 1 job at 656 First Avenue. In the last two years, interior work was permitted on 4 floors (floors 1 and 5 to 7 and the cellar). The newest build-out, on floor 1, the cellar, the facade and the roof, was first permitted in February 2026 (construction, mechanical, structural; filed cost estimate $750,000). A sidewalk shed permit here is active until October 13, 2026. These are the Department of Buildings' DOB NOW work permits for tax lot 1009690005. 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 656 First Avenue?
The Department of Finance's 2026/27 assessment roll lists exemptions covering the whole taxable value of 656 First Avenue, so there is no property tax on the roll to estimate. That is common for government, nonprofit and payment-in-lieu-of-taxes (PILOT) properties. The city's property tax records for BBL 1009690005 show what is actually billed.
What is the assessed value of 656 First Avenue?
For tax year 2026/27, the NYC Department of Finance puts the market value of 656 First Avenue at $25.4 million ($12 million of it land) and its assessed value at $11.4 million, the 45% of market value the city assesses for Class 4 property. The city's market value fell 1% from 2022/23 ($25.6 million) to 2026/27.
Is there office space for lease at 656 First Avenue?
No space at 656 First 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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Murray Hill
Transit hubs in Murray Hill
- 6 at 33 St
- 4 5 6 7 S at Grand Central