509 Madison Avenue, Manhattan
Commercial · built c. 1929 · Block 1288, Lot 51.
Building permits
- Alteration, filed Oct 6, 2026, estimated cost $140K, described as “Temporary dry standpipe as shown on plans submitted herewith.”
- Alteration, filed Oct 30, 2024, estimated cost $80K, described as “Removal of non-load bearing interior partitions per enclosed drawings. Beams & columns, floor tile, & plumbing risers to remain. There is no change to use, egress, occupancy, or fire protection.”
- Alteration, filed Jul 30, 2024, estimated cost $250K, described as “Partial demolition and renovation of sidewalk vaults as per plans. Installation of waterproofing and insulation”
- Alteration, filed Apr 4, 2023, estimated cost $88K, described as “Interior office renovation at 5th Fl (Ste 506) as per plans filed herewith. No change to use, egress, or occupancy.”
- Alteration, filed Dec 8, 2021, estimated cost $49K, described as “Modification to existing Plumbing fixtures as per plans filed herewith”
- Alteration, filed Dec 8, 2021, estimated cost $195K, described as “Modification to existing HVAC system as per plans filed herewith. No change in use, egress or occupancy under this application.”
- Alteration, filed Nov 8, 2021, estimated cost $630K, described as “Interior fit out of the 3rd floor to include non-loadbearing partitions, new pantry, bathroom renovation.”
- Alteration, filed Oct 21, 2021, 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 300 psf.”
- Alteration, filed Oct 21, 2021, estimated cost $1K, described as “Installation of temporary construction fence as per plans. No change in use, occupancy or egress.”
- Alteration, filed Jul 10, 2020, estimated cost $50K, described as “Application filed for installation of HVAC in retail space as per drawings filed herewith.”
- Alteration, filed Jul 10, 2020, estimated cost $25K, described as “Application filed for installation of sprinkler heads as per drawings filed herewith. no change to use, egress or occupancy.”
- Alteration, filed Mar 6, 2020, estimated cost $25K, described as “Modification to existing hvac system as per plans filed herewith. no changes in ,use, egress or occupancy.”
- Alteration, filed Sep 3, 2019, estimated cost $741K, described as “As per LL 26/2004, Install Sprinkler System Throughout Building on Cell, Mezz, 1st-16th & 18th-21st Fls, PH & within Tank Room on Roof, Special Service Pump, Jockey Pump & Fire Reserve Tank on Roof & piping on 18th floor.”
Property taxes
- Assessment
- $20,984,850
- 2026–27 tax
- $2,276,437
- Market value (city estimate)
- $46,633,000
- Taxable value
- $20,984,850
- Assessed land
- $6,930,000
- Assessed improvements
- $14,054,850
Zoning
C5-3: floor area ratio 19.54 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.
Board and land use applications
- 509 Madison Special Permit (City Planning 2025M0261): Special permit, Completed, filed Aug 21, 2025, decided Aug 18, 2026. This is an application by 509 Madison Avenue LLC (the “Applicant”) for a special permit pursuant to Section 74-152 of the Zoning Resolution of the City of New York (the “Zoning Resolution” or “ZR”) to permit Use Group V hotel use at 509…
- 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…
In the news
Rendering Revealed for Office-To-Hotel Conversion At 509 Madison Avenue in Midtown, Manhattan, New York YIMBY, Jan 12, 2026.