# 425 Park Avenue, Manhattan Commercial · built 1957 · Block 1310, Lot 1. On Umarelli: https://umarelli.org/nyc/1013100001/425-park-avenue More construction in Midtown: https://umarelli.org/nyc/manhattan/midtown.md ## Building permits - Alteration, filed Oct 22, 2026, estimated cost $130K, described as “Structural work taking place on the 2ND and 3RD floors as per plan filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Aug 18, 2026, estimated cost $100K, described as “Sprinkler work taking place on the 32ND construction floor (38TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Aug 18, 2026, estimated cost $100K, described as “Plumbing work taking place on the 32ND construction floor (38TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Aug 18, 2026, estimated cost $1.4M, described as “General construction taking place on the 32ND floor construction (38TH floor marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Aug 18, 2026, estimated cost $450K, described as “Mechanical work taking place on the 32 construction floor (38TH marketing) as per plans filed herein. No change in use, egress, or occupancy.” - Alteration, filed Jun 10, 2026, estimated cost $1.2M, described as “General construction work taking place on the 10TH construction floor (16TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Nov 19, 2025, estimated cost $10K, described as “Installation of temporary working platform as per plan. No change in use, egress, or occupancy. The work platform is on the 1ST and 2ND floors inside the building.” - Alteration, filed Nov 12, 2025, estimated cost $681K, described as “Mechanical modifications taking place in the cellar and on the 1ST and 2ND floors as per drawings filed herewith. No change in use, egress or occupancy.” - Alteration, filed Nov 11, 2025, estimated cost $125K, described as “Sprinkler modifications taking place in the cellar and on the 1ST and 2ND floors as per drawings filed herewith. No change in use, egress or occupancy.” - Alteration, filed Nov 10, 2025, estimated cost $182K, described as “Plumbing modifications taking place in the cellar and on the 1ST and 2ND floors as per drawings filed herewith. No change in use, egress or occupancy.” - Alteration, filed Nov 7, 2025, estimated cost $184K, described as “Mechanical work taking place on the 32 construction floor (38TH marketing) as per plans filed herein. No change in use, egress, or occupancy.” - Alteration, filed Nov 7, 2025, estimated cost $57K, described as “Plumbing work taking place on the 32ND construction floor (38TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Nov 7, 2025, estimated cost $73K, described as “Sprinkler work taking place on the 32ND construction floor (38TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Nov 6, 2025, estimated cost $270K, described as “General construction taking place on the 32ND floor construction (38TH floor marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Nov 5, 2025, estimated cost $40K, described as “Structural work taking place on the 32ND construction floor (38TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Nov 5, 2025, estimated cost $3.4M, described as “General construction modifications taking place in the cellar and on the 1ST and 2ND floors as per drawings filed herewith. No change in use, egress or occupancy.” - Alteration, filed Oct 27, 2025, estimated cost $559K, described as “Structural modifications taking place in the cellar and on the 1ST and 2ND floors per drawings filed herewith. No change in use, egress or occupancy.” - Alteration, filed Oct 9, 2025, estimated cost $224K, described as “General construction modifications taking place on the 11TH construction floor (17TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - No Work, filed Aug 4, 2025, described as “Intern training” - Alteration, filed Jul 31, 2025, estimated cost $30K, described as “Structural modifications taking place on the 40TH floor construction (46TH floor marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Jul 24, 2025, estimated cost $30K, described as “Structural modifications taking place on the 27TH, 33RD, and 34TH construction floors (33RD, 39TH, and 40TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Jul 22, 2025, estimated cost $172K, described as “General construction modifications taking place on the 32ND floor construction (38TH floor marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Jul 22, 2025, estimated cost $27K, described as “Plumbing work taking place on the 32ND construction floor (38TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Jul 22, 2025, estimated cost $4K, described as “Sprinkler work taking place on the 32ND construction floor (38TH marketing) as per plans filed herewith. No change in use, egress, or occupancy.” - Alteration, filed Jul 21, 2025, estimated cost $1.3M, described as “Mechanical work taking place on the 27TH, 33RD, and 34TH construction floors (33RD, 39TH, and 40TH marketing) as per plans filed herein. No change in use, egress, or occupancy.” 184 more, older permits are in this building’s full list on the map: https://umarelli.org/nyc/1013100001/425-park-avenue. ## Property taxes - Assessment: $246,465,450 - 2026–27 tax: $18,492,467 - Market value (city estimate): $547,701,000 - Taxable value: $170,468,910 - Assessed land: $22,950,000 - Assessed improvements: $223,515,450 ## Zoning C5-3: floor area ratio 23.86 built, above the 15.00 base zoning allows, which bonuses, transfers or older rules can permit. ## Recent sales - Feb 17, 2022: $939,649 - Mar 12, 2020: $1,175,000, Apt 11B - Nov 25, 2019: $616,755,253 Open-market sales since 2016, from the Department of Finance’s sales files. ## Flood zone Current FEMA flood map: zone X, minimal flood hazard. ## 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… ## In the news [L&L Holding Company Secures Refinancing For 425 Park Avenue In Midtown East, Manhattan](https://newyorkyimby.com/2024/04/ll-holding-company-secures-refinancing-for-425-park-avenue-in-midtown-east-manhattan.html), New York YIMBY, Apr 13, 2024. 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