498 7th Avenue, Manhattan
Commercial · built c. 1920 · Block 786, Lot 51.
Building permits
- Alteration, filed Oct 29, 2026, estimated cost $336K, described as “Filing herewith general construction scope for partial roof membrane replacement (entirely above deck) with insulation (no impact to building energy code compliance - solid masonry building) and replacement of inside face of parapet bricks…”
- Alteration, filed Oct 9, 2026, described as “Rigging for Industrial Rope Access”
- Alteration, filed Sep 16, 2026, described as “Installation of temporary sidewalk shed as per plans. No change in use, egress or occupancy.”
- Alteration, filed Apr 27, 2026, estimated cost $258K, described as “Safe With A Repair and Maintenance Program Facade Repairs”
- Alteration, filed Oct 7, 2025, estimated cost $250K, described as “Updating interior layout and selective modifications for new tenant”
- Alteration, filed Oct 7, 2025, estimated cost $53K, described as “PLUMBING - Installation of New Domestic Cold water line, connected to existing, for new coffee maker and water dispenser SPRINKLER - Removal of 64 old Sprinkler heads and the installation of 67 New Sprinkler heads”
- Alteration, filed Oct 7, 2025, estimated cost $200K, described as “Modifying existing HVAC layout for new tenant”
- Alteration, filed Oct 14, 2024, estimated cost $50K, described as “Replace existing Standby Emergency Generator with new .”
- Alteration, filed Oct 14, 2024, estimated cost $5K, described as “Install Fuel Oil Storage Tank is 300 gallons and is connected to Emergency Generator.”
- Alteration, filed Sep 19, 2023, estimated cost $150K, described as “Removal and installation of interior non-bearing partitions and related finishes as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Sep 19, 2023, estimated cost $25K, described as “Modifications to HVAC system as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Sep 19, 2023, estimated cost $18K, described as “Modifications to sprinkler system as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Jun 9, 2023, estimated cost $33K, described as “Modifications to plumbing and sprinkler systems as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Jun 9, 2023, estimated cost $300K, described as “Modifications to HVAC system as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Apr 26, 2023, estimated cost $150K, described as “Removal and installation of interior non-bearing partitions and related finishes as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Mar 30, 2023, estimated cost $70K, described as “New slab and steel framing for infill of existing stair opening as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Nov 1, 2022, estimated cost $254K, described as “Modifications to HVAC system for office suite on partial floor as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Oct 19, 2022, estimated cost $87K, described as “Modifications to plumbing and sprinkler systems for office suite on partial floor as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Oct 7, 2022, estimated cost $100K, described as “Structural modifications including steel support of moveable partition for office suite on partial floor as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Oct 6, 2022, estimated cost $1.3M, described as “Interior renovations for office suite on partial floor as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Jun 22, 2022, estimated cost $25K, described as “Modifications to HVAC system as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Jun 22, 2022, estimated cost $30K, described as “Removal of plumbing fixtures with associated piping, removal and relocation of sprinkler heads with associated piping as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Jun 1, 2022, estimated cost $450K, described as “Removal of interior non-load bearing partitions and related finishes as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Dec 30, 2021, estimated cost $30K, described as “Dismanteling and Removing the existing abandon metal exhaust system's stack duct within the exisying shaft/ court yard area as per plans, no change in use occupancy or egress.”
- Alteration, filed Nov 29, 2021, estimated cost $500K, described as “Modifications to existing HVAC system on 19TH floor (20TH marketing) as per plans filed herewith. No change in use, egress or occupancy.”
25 more, older permits are in this building’s full list on the map.
Property taxes
- Assessment
- $134,849,250
- 2026–27 tax
- $10,565,289
- Market value (city estimate)
- $299,665,000
- Taxable value
- $134,849,250
- Assessed land
- $9,045,000
- Assessed improvements
- $125,804,250
Tax breaks
- ICAP abatement, through Jun 30, 2033, a $4,063,158 credit this tax year.
Zoning
M1-9A/R12: floor area ratio 20.72 built, above the 15.00 base zoning allows, which bonuses, transfers or older rules can permit.
Flood zone
Current FEMA flood map: zone X, minimal flood hazard.
Board and land use applications
- Midtown South Mixed-Use Plan (MSMX) (City Planning 2024M0142): Zoning map change, Zoning text change, Completed, filed Jan 16, 2025, decided Aug 14, 2025. The Department of City Planning is seeking a Zoning Map amendment from M1-6 and M1-6D to M1-9A/R12, M1-8A/R12, and M1-8A/R11 and a Zoning Text amendment to facilitate the development of housing and support critical economic activity across…
- Garment Center Text Amendment (City Planning 2018M0412): Completed, decided Dec 26, 2018. The NYC Department of City Planning proposes a zoning text amendment to the Special Garment Center District to better reflect the current land use and promote a healthy mix of uses. In addition to changes regarding use regulations within…