# 551 5th Avenue, Manhattan

Commercial · built c. 1927 · Block 1281, Lot 1.

On Umarelli: https://umarelli.org/nyc/1012810001/551-5-avenue

More construction in Midtown: https://umarelli.org/nyc/manhattan/midtown.md

Every lot on block 1281: https://umarelli.org/nyc/manhattan/1281.md

## 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: https://umarelli.org/nyc/1012810001/551-5-avenue.

## 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

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