What properties contribute the most to New York City’s tax revenue stream? No more than ten New York City properties pay an annual tax bill of over $30,000,000, according to our analysis, bringing in a total revenue of over $360,000,000.
|1. Stuyvesant Town – Peter-Cooper Village
Annual bill: $43,579,284
The gargantuan complex that houses over 8,700 residential units and 44 commercial units is the largest property tax contributor in New York City and the only property that’s not an office building which makes the top 10.
|2. 767 5th Avenue – General Motors Building
Annual Bill: $40,455,423
Being one of the few buildings in New York that occupy an entire city block and given its prime location – Fifth Avenue, south-east corner of Central Park – its presence on this list is of little surprise . The property was acquired in 2008 by Boston Properties and is home to Apple’s NYC flagship store, dubbed the Cube.
|3. 200 Park Avenue – Metlife Building
Annual Bill: $39,377,815
When it was built in 1963 it was the largest commercial office building in the world, according to its Wikipedia entry. Currently, its largest tenants are the Dreyfus Corporation, Winston & Strawn LLP, and Barclays Bank PLC.
|4. 10 Columbus Circle – Time Warner Center
Annual Bill: $37,406,358*
Home to the offices of Time Warner Inc., the Mandarin Oriental, Jazz at Lincoln Center, the Shops at Columbus Center, and the CNN studios to name a few, the Time Warner Center has become one of New York City’s iconic destinations.
|5. 1221 Avenue of the Americas – McGraw Hill Building
Annual Bill: $37,031,069
As it names suggests, the building’s main anchor tenant are the McGraw-Hill Companies. The property was part of the 1970s expansion of the Rockefeller Center, and currently it holds the title as the largest building in New York “to achieve LEED-EB Certification, the designation by the US Green Building Council for existing buildings”.
|6. 1260 Avenue of the Americas
Annual Bill: $35,501,603
Home to the Radio City Music Hall, and totaling 2,734,028 square feet, 1260 Avenue of the Americas is the largest of the 19 buildings that make up the Rockefeller Center.
7. 399 Park Avenue
Annual Bill: $33,845,463
Boston Properties bought this building for $1.06 billion in 2002, in what was the highest price ever paid for an office building at that time. The property is the global headquarters of Citigroup.
8. 1251 Avenue of the Americas – Exxon Building
Annual Bill: $32,480,282
1251 Avenue of the Americas is the second-tallest building in the Rockefeller Center, after the GE Building, according to Wikipedia.
9. 338 5th Avenue – The Empire State Building
Annual Bill: $30,761,395
Probably the most famous skyscraper in the City, this building needs no further presentation.
10. 9 West 57th Street – the Solow Building
Annual Bill: $30,345,617
9 West 57th Street is located just one block off Central Park and across the street from one of the most famous residential developments in the City, the Plaza Hotel.
Note: * does not include property taxes assigned to the complex’s residential condominiums.