Manhattan

The Fred F. French Building - 551 5th Avenue, New York, NY 10176 - Property report

Also known as: 1-7 E 45th St

Property image for The Fred F. French Building - 551 5th Avenue, New York, NY 10176
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Property type

Office Only with or without Commercial - 20 Stories or More (O4)

Year built

1927

Lot sq. ft.

18,950

Sale price

$100,000,000

General information

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Address
Building name
The Fred F. French Building
Primary address
The Fred F. French Building - 551 5th Avenue
Alternate address(es)
1-7 E 45th St
547-551 5th Ave
ZIP code
10176
Neighborhood
Central Midtown
Borough
Manhattan
Block & lot
01281-0001

Owner

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Building
Property type
Office Only with or without Commercial - 20 Stories or More (O4)
Building sq. ft.
427,158
Building dimensions
78 ft x 200 ft
Buildings on lot
1
Stories
38
Year built
1927
Last altered
1990
Building material
Sales
Sale date
12/23/2002
Sale price
$100,000,000
Tax
Tax year
2026-2027
Property tax
$6,852,692
Tax class
Floor area ratio (FAR)
Commercial FAR
Residential FAR
Buildable area
Zoning & Use
Zoning
Qualified opportunity zone
Residential units
0
Residential sq. ft.
Office sq. ft.
Retail sq. ft.
Lot
Lot dimensions
78.42 ft x 200 ft
Lot sq. ft.
18,950

Area overview

Walk score
97 /100.  Walker's Paradise
Transit score
100 /100.  Rider's Paradise
Bike score
87 /100.  Very Bikeable
School district
2
Community district
5
Closest police station
0.40 Miles
Closest fire station
0.13 Miles

View more such as transportation, nearby schools and risk designations.

Ownership

Ownership information for The Fred F. French Building - 551 5th Avenue, New York, NY

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Property owner name
Registered owner
Source
Deed
Owner contact information
Phone number
Owner address
Documents

Sales history for The Fred F. French Building - 551 5th Avenue, New York, NY 10176

Sale date Sale price Buyer name Seller name
12/23/2002 $100,000,000 XXXXXX XXXXXXXX, XXX XXX XXX XXXX XXXXXX XXXXXXXX XX-XXXXXXXXX X.X.X. XXXXXXXXXXXX XXXX XXXXXXXXX XXXXXXX

*Most recent sale on record for this property.

More about New York City property records.

Title documents

Date Type Amount Party 1 Party 2
05/12/2025 - R
05/06/2025 - D		 Subordination of Mortgage
(2025050800506001)		 XXXXXXXX XXXXXX XXXXXX XXXXXX XXX XXXXXXXXXX XXXXXXX XXXX XXXXXXX XXX
09/17/2024 - R UCC3 Amendment
(2024091601183001)		 XXXXXX XXXXXXXX XXX XXXX XXXX XX XXXXXXXXXXXXXX XXXXX
09/17/2024 - R UCC3 Amendment
(2024091601171001)		 XXXXXX XXXXXXXX XXX XXXX XXXX XX XXXXXXXXXXXXXX XXXXX
09/17/2024 - R UCC3 Amendment
(2024091601170001)		 XXXXXX XXXXXXXX XXX XXXX XXXX XX XXXXXXXXXXXXXX XXXXX
12/29/2023 - R
12/07/2023 - D		 Assignment, Mortgage
(2023122700727001)		 XXXXXXX XXXXXXX XXXXXXXXX XXXXXXXXXXX XXXX XXXX
11/30/2022 - R Initial UCC1
(2022113000357006)		 XXXXXX XXXXXXXX XXX XXXXXXXXX XXXX
11/30/2022 - R Initial UCC1
(2022113000357005)		 XXXXXX XXXXXXXX XXX XXXXXXXXX XXXX
11/21/2022 - R Initial UCC1
(2022111800831004)		 XXXXXX XXXXXXXX XXX XXXXXXXXX XXXX
11/30/2022 - R
11/01/2022 - D		 Assignment of Leases and Rents
(2022113000357004)		 XXXXXX XXXXXXXX XXX XXXXXXXXX XXXX
11/30/2022 - R
11/01/2022 - D		 Mortgage
(2022113000357003)		 XXXXXX XXXXXXXX XXX XXXXXXXXX XXXX

*Most recent recorded documents on file for this property.

R: Recorded date
D: Document date

Tax

Property taxes for The Fred F. French Building - 551 5th Avenue, New York, NY

Property tax data includes tax amount, market value and assessed value, exemptions, abatements and assessment history.

Current property tax
Tax year
2025-2026
Property tax
$6,852,692
Municipal exemptions
Recent tax assessments
Market value
$140,378,000
Assessed value
$63,170,100

More about New York City property taxes

Assessment history

See the assessment and property tax history, including the evolution of the total tax rate and corresponding property tax amount.

Tax year Market value Assessed value Taxable amount Tax rate Base tax Property tax Y-o-Y change
2025/26 $136,854,000 $61,584,300 $61,584,300 10.848% $6,680,665 $6,680,665 -6.60%
2024/25 $147,696,000 $66,463,200 $66,463,200 10.762% $7,152,770 $7,152,770 +2.05%
2023/24 $147,053,000 $66,173,850 $66,173,850 10.592% $7,009,134 $7,009,134 +0.36%
2022/23 $145,777,800 $65,600,010 $65,600,000 10.646% $6,983,776 $6,983,776 -4.00%
2021/22 $156,224,000 $70,300,800 $67,643,670 10.755% $7,275,077 $7,275,077 +1.50%
2020/21 $164,524,000 $74,035,800 $67,025,570 10.694% $7,167,714 $7,167,714 +7.47%
2019/20 $160,810,000 $72,364,500 $63,298,756 10.537% $6,669,790 $6,669,790 +6.84%
2018/19 $147,183,000 $66,232,350 $59,376,466 10.514% $6,242,842 $6,242,842 +4.94%
2017/18 $136,856,000 $61,585,200 $56,579,999 10.514% $5,948,821 $5,948,821 +2.72%
2016/17 $140,507,000 $63,228,150 $54,767,359 10.574% $5,791,101 $5,791,101 +5.14%
Permits

Permit information for The Fred F. French Building - 551 5th Avenue, New York, NY

Filing date Job type Job status Job description Initial cost
07/27/2026 Alteration
05/15/2026 Alteration
03/30/2026 Alteration
03/27/2026 Alteration
03/26/2026 Alteration

*Most recent permits on record for this property.

More about New York City property records

Violations

DOB Violations

Violation ID Issue date Type Status
02/22/2024 Fispnrf-no report and / OR late filing (facade) facade required
11/24/2021 E-elevator elevatorrequired
08/11/2021 C-construction other optional

*Most recent DOB violations on record for this property.

Neighborhood

Manhattan commercial market stats

Review a detailed real estate market overview of Manhattan and assess current trends, property values, property types sold and transaction volumes. View the median price per square foot in Manhattan and compare it to other New York City boroughs.

Q2 2026 median price/sq. ft.

$729

10.4% Y-o-Y

Q1 2026 median price/sq. ft.

$807

22.4% Y-o-Y

2025 median price/sq. ft.

$630

-8.1% Y-o-Y

Check out recently sold homes in Manhattan and see how their prices compare.

Risk

Create a free account to unlock expanded risk information, such as crime incidents in the area, tsunami and landslides risks, or its location relative to FEMA flood zones and the Coastal Barriers Resources System Area (COBRA).

FEMA flood zones

Property location map
FEMA flood zones
X

Hurricane evacuation zones

Property location map
Hurricane evacuation zones
-

Subway & traffic

Closest station
Madison Ave & 42nd St at NW Corner
Station lines
GS-4-5-6-7
Distance (miles)
0.163
View subway map

Access the detailed traffic volume map for The Fred F. French Building - 551 5th Avenue, New York, NY 10176 to see estimated average daily traffic on streets surrounding the property as well as the types of properties in its vicinity. View daily traffic map

Neighbors for The Fred F. French Building - 551 5th Avenue, New York, NY

45 E 45th St, New York 4 E 46th St, New York 16 E 46th St, New York 12 E 46th St, New York 10 E 46th St, New York 200 Park Ave, New York 416 Lexington Ave, New York 555 5th Ave, New York 390 Madison Ave, New York 89 E 42nd St, New York 9 E 45th St, New York 350 Madison Ave, New York 6 E 45th St, New York 366 Madison Ave, New York 109 E 42nd St, New York 10 E 45th St, New York 20 E 46th St, New York 41 Vanderbilt Ave, New York 545 5th Ave, New York

Frequently asked questions

What is the year built for The Fred F. French Building - 551 5th Avenue, New York, NY 10176?

The development at The Fred F. French Building - 551 5th Avenue, New York, NY 10176 was built in 1927.

What is the market value of The Fred F. French Building - 551 5th Avenue, New York, NY 10176?

The current market value of The Fred F. French Building - 551 5th Avenue, New York, NY 10176 is $140,378,000.

What is the total square footage of The Fred F. French Building - 551 5th Avenue, New York, NY 10176?

The Fred F. French Building - 551 5th Avenue, New York, NY 10176 has a total of 427,158 square feet.

How many commercial spaces does this building have?

The number of commercial spaces in this building is 74.

How many active listings does The Fred F. French Building - 551 5th Avenue, New York, NY 10176 have?

This address has 15 active listing(s).

Disclaimer

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