# 509 West 38th Street, Manhattan

Condominium · 225 units · built 2015 · Block 710, Lot 7501.

On Umarelli: https://umarelli.org/nyc/1007107501/509-west-38-street

More construction in Hudson Yards: https://umarelli.org/nyc/manhattan/hudson-yards.md

## Building permits

- Alteration, filed May 15, 2025, estimated cost $19K, described as “General construction associated with limited facade restoration as per plans filed. No change in occupancy, use or egress.”
- Alteration, filed Mar 4, 2022, estimated cost $1.8M, described as “Propose to perform mechanical work. No change to use, egress or occupancy.”
- Alteration, filed Mar 4, 2022, estimated cost $392K, described as “Propose to perform plumbing and sprinkler work. No change to use, egress or occupancy.”
- Alteration, filed Mar 3, 2022, estimated cost $15K, described as “Propose to perform structural work for pipe grids over studios and support of one slab opening. No change to use, egress or occupancy.”
- Alteration, filed Mar 2, 2022, estimated cost $1.5M, described as “Propose to perform interior renovations. No change to use, egress or occupancy.”

## Property taxes

- Assessment: $39,785,570
- 2026–27 tax: $135,275
- Market value (city estimate): $88,412,376
- Taxable value: $1,152,452
- Assessed land: $2,859,301
- Assessed improvements: $36,926,269
- Condo units with their own tax lots: 6

## Tax breaks

- Nonprofit exemption (charitable), with no end date, about $344,706 a year below the full tax.
- 421-a exemption, through Jun 30, 2039, about $4,312,629 a year below the full tax.

## Zoning

C2-8: floor area ratio 13.76 built, above the 10.00 base zoning allows, which bonuses, transfers or older rules can permit.

## Recent sales

- Feb 27, 2026: $129,000,000, Unit RETL, sold with other lots
- Feb 23, 2022: $17,095,848, Apt CMF1, sold with other lots
- Mar 4, 2021: $10,228,525, Apt CMF3

Open-market sales since 2016, from the Department of Finance’s sales files.

## Flood zone

Current FEMA flood map: zone X, minimal flood hazard.

## Board and land use applications

- 509 W. 38th Street (DIB with IH) (City Planning P2015M0209): Completed, decided Jan 21, 2015. This is a private application for a Hudson Yards District Improvement Bonus Chair Certification pursuant to ZR 93-31 and ZR 23-90 for a building that would be providing Inclusionary Housing.

## In the news

[Henry Hall Sells For $129 Million At 515 West 38th Street In Hudson Yards, Manhattan](https://newyorkyimby.com/2026/03/henry-hall-sells-for-129-million-at-515-west-38th-street-in-hudson-yards-manhattan.html), New York YIMBY, Mar 14, 2026.

From New York City and Jersey City public records, refreshed within a day of each release. Sources: https://umarelli.org/sources. Methodology and corrections: https://umarelli.org/methodology