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500 5th Avenue

Midtown East

New York, NY 10110

  • 1,025 - 27,000 sqft
  • inquire for pricing

Building Details

  • Attended Lobby✔︎
  • Turnstile✔︎
  • 24/7 Access✔︎
  • Owner/Leasing Manager1472 Broadway, Inc.
  • Floors60
  • ArchitectShreve, Lamb & Harmon Associates
  • Walk Score®98
  • Year Built1931

500 Fifth Avenue, New York, NY 10010 is located on the corner of 42nd Street and 5th Avenue. Completed in 1931, the building stands at 60 floors tall and features over 687,585 square feet in office space for rent, making it quite a sizable structure. Although an older building, the structure was renovated recently and now offers class A office space and support. Sitting in the heart of Midtown, this structure benefits from being in the vicinity of some of New York’s best amenities. There are literally hundreds of restaurants that surround 500 Fifth Avenue as well as easy access to the MTA’s orange, purple, and green subway lines. Its proximity to other office structures also located in Midtown make this an ideal building for an organization looking to be in the heart of a large business district. Such excellent placement adds a significant amount of value for the building’s tenants. The building also has historical significance as the original site of CBS Radio’s New York City FM station and was named a New York City landmark in 2010. The building also has a host of updated amenities including tenant-controlled HVAC, 24/7 office support, Fiber-optic link, State-of-the-art security systems, a messenger center, and on-site management. In addition, thanks to a recent renovation, the building has earned an energy star certification and has significantly cut down on its power usage.

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  • Availability

    UnitSizePriceInquire
    Office Space1,025 sqftInquire for pricing
    Office Space2,902 sqftInquire for pricing
    11th Floor3,630 sqftInquire for pricing
    Office Space4,100 sqftInquire for pricing
    Office Space4,192 sqftInquire for pricing
    26th Floor - 3d Suite5,000 sqftInquire for pricing
    28th Floor5,822 sqftInquire for pricing
    56th Floor5,904 sqftInquire for pricing
    Office Space5,904 sqftInquire for pricing
    32nd Floor7,000 sqftInquire for pricing
    25th Floor7,000 sqftInquire for pricing
    Entire 29th Floor10,914 sqftInquire for pricing
    10th Floor19,948 sqftInquire for pricing
    11th Floor19,948 sqftInquire for pricing
    Office Space19,948 sqftInquire for pricing
    27th Floor20,000 sqftInquire for pricing
    26th Floor22,000 sqftInquire for pricing
    2nd Floor27,000 sqftInquire for pricing
    21st Floor27,000 sqftInquire for pricing
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    Neighborhood

    Midtown East

    Midtown East, an area of Midtown, is a popular office space location, especially for consulting firms, financial services firms, media companies, and hedge funds. Located near many of Manhattan’s most iconic landmarks, the area is not only a business center but also a well-traveled tourist destination. Midtown East encompasses several unique neighborhoods including the Plaza District, Park Avenue, Madison Avenue, and Grand Central Station.

    Midtown East Office Space | Lease Data & Trends

    Office space rental prices vary greatly based on location, building class, and lease terms and length. Madison Avenue Class A spaces rent for an average of $105/sqft; this area has some of the highest prices in all of New York City. In the Plaza District, Class A spaces rent for an average of $94.19/sqft. Renters can find Class A spaces for $73/sqft in Grand Central Station. And, of course, Class B spaces go for less. It just depends on what you’re looking for.

    In general, Midtown East submarkets are more expensive than the average NYC office space rent of $72 per square foot, or the average Brooklyn office space rent of $42 per square foot.

    To help decide what kind of space you’re looking for, read about the differences between Class A and Class B office spaces. What about gross lease, triple net leases, and tenant improvement allowance? If you want to learn more about renting office space in Midtown East, one of our licensed tenant brokers would love to answer your questions.

    What Our Brokers Have to Say

    The borough of Manhattan south of Central Park is traditionally divided into Midtown, Midtown South, and Lower Manhattan. Midtown East is the Eastern half of Midtown that is bordered by Fifth Avenue to the west, the East River to the east, 59th St. to the north, and 42nd Street to the south. The area is home to the Chrysler Building, Rockefeller Center, and the United Nations Headquarters, and visitors will notice a lot of areas that look familiar because they’ve appeared on postcards and in TV shows.

    Midtown East is primarily a business district and is relatively quiet during the evenings. Traveling around the area and getting to and from nearby districts is easy, especially with the convenient juxtaposition of Grand Central Station, which is not only one of the biggest hubs for public transportation in NYC but also a historic landmark. Nearby subway lines include: 4, 5, 6, N, Q, R, B, D, F, M, E, and 7. If visiting business partners need a place to stay, book rooms in The Langham, The Bernic Hotel, Fitzpatrick Grand Central, or Pod 39.

    Popular Neighborhoods in Midtown East

    Each neighborhood located within Midtown East has unique character and features.

    Grand Central Station: Whether you call it by its official name, Grand Central Terminal, or its nickname, Grand Central, this neighborhood is known for housing Grand Central Station, one of the biggest transportation hubs in NYC. Securing office space here means working alongside companies such as Salesforce, YES Network, Oracle, Metlife, and New York Life Insurance.

    Madison Avenue: Madison Avenue, one of the most well-known streets in America, is home to some of the nation’s most influential businesses. Named after the United States’ fourth President, James Madison, Madison Avenue is clean, beautiful, and graffiti-free. Though no longer the center of the advertising world, Madison Avenue is still an area in high demand.

    Plaza District: The Plaza District houses some of the most premier commercial real estate in NYC. A 10% vacancy leaves potential tenants with plenty of options to join the district’s current tenants, which include Colgate-Palmolive, Bloomberg, and NBC Studios.

    Park Avenue: Park Avenue, originally called Fourth Avenue, houses some of the nation’s most expensive real estate, and some of NYC’s richest CEOs live there. Fortune 500 companies such as Citigroup, Mutual of America, JP Morgan, and Metlife have Park Avenue addresses from here.

    met-life-building-grand-central-station

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