551 5th Avenue, Manhattan
Commercial · built c. 1927 · Block 1281, Lot 1.
Building permits
- Alteration, filed Oct 2, 2026, estimated cost $50K, described as “General construction work for Interior renovation to include demolition of existing and construction of new partitions for existing office space. no change in use, egress, or occupancy.”
- Alteration, filed Mar 26, 2026, estimated cost $1.3M, described as “Interior renovation to include demolition of existing and construction of new partitions for existing office space. no change in use, egress, or occupancy.”
- Alteration, filed Oct 13, 2025, estimated cost $280K, described as “Respectfully requesting to submit revised plans showing new field changes.”
- Alteration, filed Sep 8, 2025, estimated cost $88K, described as “ALTERATION2 for interior renovation of the existing office for removal of a non-bearing partition, framing work, new wall in reception area, new metal interior doors, one (1) observation window, install new vinyl floor on the show room…”
- Alteration, filed Aug 21, 2025, estimated cost $175K, described as “Interior renovations as per drawings filed herewith. No change to use egress or occupancy.”
- Alteration, filed Jul 22, 2025, estimated cost $660K, described as “Interior renovation of existing offices on the 8th floor. No change to egress, use, or occupancy.”
- Alteration, filed May 27, 2025, estimated cost $550K, described as “Interior renovation of existing offices on 10th floor. No change to egress, use, or occupancy.”
- Alteration, filed May 19, 2025, estimated cost $300K, described as “Modifications to existing Mechanical Systems as per plans filed herewith. No change in use, egress or occupancy.”
- Alteration, filed Mar 20, 2025, estimated cost $270K, described as “Interior renovations as per drawings filed herewith. No change to use egress or occupancy.”
- Alteration, filed Jan 27, 2025, estimated cost $650K, described as “Interior renovations as per drawings filed herewith. Work to include minor exterior work on the terrace. No change to use egress or occupancy.”
- Alteration, filed Oct 1, 2024, described as “FISP INSPECTION (Facade Inspection Safety Program). INDUSTRIAL ROPE ACCESS TECHNIQUES AND METHODS. SEE ATTACHED PLANS. Designated Primary Site supervisor: Jesus Decola”
- Alteration, filed May 1, 2024, estimated cost $570K, described as “Mechanical systems work as reflected as per plans herewith. No change to use, egress, or occupancy.”
- Alteration, filed May 1, 2024, estimated cost $60K, described as “Plumbing work as reflected as per plans herewith. No change to use, egress, or occupancy.”
- Alteration, filed Apr 26, 2024, estimated cost $60K, described as “Sprinkler work as reflected per plans herewith. No change to use, egress, or occupancy.”
- Alteration, filed Feb 12, 2024, estimated cost $748K, described as “Facade restoration. No change in egress, use or occupancy.”
- Alteration, filed Dec 14, 2023, estimated cost $525K, described as “Interior renovations as per drawings filed herewith. Work to include minor exterior work on the terrace. No change to use egress or occupancy.”
- Alteration, filed Dec 5, 2023, described as “Facade repair and inspection”
- Alteration, filed Nov 1, 2023, estimated cost $350K, described as “Interior renovation to include demolition of existing partitions and construction of new partitions and finishes as shown on plans. No change to use, egress, or occupancy.”
- Alteration, filed Jul 19, 2023, estimated cost $35K, described as “Additions/Modifications to existing sprinkler system. No change to use, egress, or occupancy.”
- Alteration, filed Jul 19, 2023, estimated cost $50K, described as “Mechanical Systems work as reflected in submitted plans herewith. No change to use, egress, or occupancy.”
- Alteration, filed Jul 19, 2023, estimated cost $10K, described as “Additions/Modifications to existing plumbing system as per plans filed herewith. No change to use, egress, or occupancy.”
- Alteration, filed Jul 18, 2023, estimated cost $150K, described as “Interior renovations as per drawings filed herewith. No change to use egress or occupancy.”
- Alteration, filed May 25, 2023, estimated cost $100K, described as “Interior renovations as per plans herewith. No change to use, egress, and occupancy.”
- Alteration, filed May 12, 2023, estimated cost $15K, described as “Structural work as per plans filed herewith.”
- Alteration, filed Oct 17, 2022, estimated cost $525K, described as “Interior renovations as per drawings filed here with. No change to use egress or occupancy.”
22 more, older permits are in this building’s full list on the map.
Property taxes
- Assessment
- $63,170,100
- 2026–27 tax
- $6,852,692
- Market value (city estimate)
- $140,378,000
- Taxable value
- $63,170,100
- Assessed land
- $9,360,000
- Assessed improvements
- $53,810,100
Zoning
C5-3 (part of the lot is C5-2.5): floor area ratio 22.54 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.
Landmarks
Part of Fred F. French Building: Individual Landmark, Fred F. French Building (Interior Landmark). 50 Landmarks Preservation Commission permits are on file.
Board and land use applications
- Greater East Midtown - Special Subdistrict (City Planning P2016M0316): Completed, decided Aug 15, 2017. This is an application by NYC Department of City Planning requesting a text amendment to establish the East Midtown Subdistrict and extend the Special Midtown District, and to rezone a half-block area from C5-2 to C5-3 to reinforce the…
- 360 MADISON AVE, 11-17 E48TH ST & GRAND CENTRAL TE (City Planning P2000M0253): Completed, decided Aug 1, 2000. CERT FOR THE TRANSFER OF DEVELOPMENT RIGHTS FROM THE*TERMINAL TO 360 MADISON & 11-17 E48 ST WITHIN THE GRAND*CENTRAL SUBDISTRICT OF THE SPECIAL MIDTOWN DIST TO BUILD*A NEW 24-STORY BLDG WITH APPROX 287,000SF OF FLOOR AREA
- FRED D FRENCH BLDG (City Planning P1986M0691): Completed, decided Jun 30, 1986. LANDMARK-CITY COLLEGE OF NY, REMSEN CEMETERY,TROTTING*COURSE LA; Additional LPC #(s): 162