# 261 Madison Avenue, Manhattan

Commercial · built 1954 · Block 868, Lot 25.

On Umarelli: https://umarelli.org/nyc/1008680025/261-madison-avenue

More construction in Murray Hill: https://umarelli.org/nyc/manhattan/murray-hill.md

## Building permits

- Alteration, filed Mar 1, 2024, described as “Installation of temporary suspended scaffold equipment.”
- Alteration, filed Jan 24, 2024, estimated cost $5K, described as “Repair of existing stairs as per plan, no change in use, egress or occupancy.”
- Alteration, filed Sep 28, 2023, estimated cost $36K, described as “Herewith filing Cut & Cap to remove existing Water Closet & Lavatory including all associated piping, valves, waste, vent, Chair Carrier, CW & HW piping. Install new plumbing fixtures in Men's & Women's bathroom. New Roughing for waste,…”
- Alteration, filed Sep 12, 2023, estimated cost $110K, described as “Interior demolition of non-load bearing walls for office space at 12th floor all per plans. No changes to use, egress or occupancy.”
- Alteration, filed Sep 5, 2023, estimated cost $650K, described as “Repairs to include work on the facades, terraces, and roofs of Sapir located at 261 Madison Avenue. No change to use, egress, or occupancy.”
- Alteration, filed Jul 13, 2023, estimated cost $20K, described as “Structural repair for the garage ramp as per plans , no change in use, egress or occupancy”
- Alteration, filed Nov 22, 2022, estimated cost $1K, described as “Installation of temporary heavy duty sidewalk shed as per plans. No change in use, egress or occupancy. Sidewalk shed shall comply with chapter #33 of the NYC building code. Live load 300PSF.”
- Alteration, filed May 16, 2022, estimated cost $428K, described as “Application filed for modication of sprinkler system. No change in use, egress or occupancy.”
- Alteration, filed Feb 16, 2022, estimated cost $37K, described as “Filing Plumbing plans for new tenant fit-out at 15th floor. Work consists of new, replaced, and relocated water plumbing fixtures. No gas work under this application. No change to use, egress, or occupancy.”
- Alteration, filed Feb 15, 2022, estimated cost $42K, described as “Modify Sprinkler System for new tenant fit-out. New Concealed/Upright Sprinkler heads with required branch piping at 15th floor. Work to comply with NFPA 13. Some piping will be preserved to protect paths of egress during construction. No…”
- Alteration, filed Feb 4, 2022, estimated cost $117K, described as “New office fit-out of an HVAC Split System cooling & heating includes all new ductwork, top registers, supply diffusers, return registers, controls, piping, fittings, air handlers , ACCU (Heat Pump) at 16th FL. roof. No changes to use,…”
- Alteration, filed Feb 2, 2022, estimated cost $405K, described as “New office layout @ 015 consisting of partitions new offices #s 1,2, conference Rms. 1-3, pantry, reception area. New finishes includes men's. women's. H.C. bathrooms, office glazing, millwork, doors, flooring, ceilings, lighting, wall…”
- Alteration, filed Jul 13, 2021, estimated cost $20K, described as “Removal of partitions, walls, doors, finishes, suspended ceiling and flooring on 15th floor.”
- Alteration, filed Dec 17, 2019, estimated cost $14K, described as “Structural modifications as per plans filed herewith. NO change in use, egress or occupancy.”

## Property taxes

- Assessment: $50,484,600
- 2026–27 tax: $5,303,995
- Market value (city estimate): $112,188,000
- Taxable value: $48,893,760
- Assessed land: $14,850,000
- Assessed improvements: $35,634,600

## Zoning

C5-3 (part of the lot is R8B): floor area ratio 16.40 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

- Variance or special permit (Board of Standards and Appeals 262-07-BZ): Variance or special permit, Withdrawn, filed Nov 9, 2007, decided Aug 5, 2009. Re-instatement (§11-411) for the reinstatement of previously approved variance for parking, contrary to use regulations

## In the news

[The Sapir Organization and Industrious Announce New Co-working Suite at 261 Madison Avenue in Midtown, Manhattan](https://newyorkyimby.com/2021/11/the-sapir-organization-and-industrious-announce-new-co-working-suite-at-261-madison-avenue-in-midtown-manhattan.html), New York YIMBY, Nov 16, 2021.

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