New York City  »  10022  »  Madison Ave  »  457 Madison Ave

New York Palace Hotel - 457 Madison Avenue, New York, NY 10022 - Property report

Also known as: 20 E 51st St

Property image for New York Palace Hotel - 457 Madison Avenue, New York, NY 10022
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Property type

Office with Commercial - 1 to 6 Stories (O5)

Year built

1885

Lot sq. ft.

4,485

Sale price

$491,100,000

General information

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Access up-to-date information from property owner names to sales history, deeds, tax info, mortgages, development data, planimetric maps and more.

Address
Building name
New York Palace Hotel
Primary address
New York Palace Hotel - 457 Madison Avenue
Alternate address(es)
20 E 51st St
ZIP code
10022
Neighborhood
Central Midtown
Borough
Manhattan
Block & lot
01286-0053

Owner

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Building
Property type
Office with Commercial - 1 to 6 Stories (O5)
Building sq. ft.
22,350
Building dimensions
60 ft x 75 ft
Buildings on lot
1
Stories
4
Year built
1885
Last altered
2013
Building material
Sales
Sale date
04/30/2026
Sale price
$491,100,000 - M
Tax
Tax year
2026-2027
Property tax
$964,653
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
60 ft x 74 ft
Lot sq. ft.
4,485

Area overview

Walk score
95 /100.  Walker's Paradise
Transit score
100 /100.  Rider's Paradise
Bike score
86 /100.  Very Bikeable
School district
2
Community district
5
Closest police station
0.22 Miles
Closest fire station
0.41 Miles

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

Ownership

Ownership information for New York Palace Hotel - 457 Madison 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 New York Palace Hotel - 457 Madison Avenue, New York, NY 10022

Sale date Sale price Buyer name Seller name
04/30/2026 $491,100,000 XXXXX XXXXX XXX XXXX XXXXXX, XXX XXX XXXXXXXXXXX XX XXX XXXX

*Most recent sale on record for this property.

More about New York City property records.

Title documents

Date Type Amount Party 1 Party 2
06/22/2026 - R
04/30/2026 - D		 Termination of Lease or Memo
(2026061700566001)		 XXXXX XXXXX XXX XXXX XXXXXX XXX XXXXX XXXXX XXX XXXX XXXXXX XXX
05/29/2026 - R
04/30/2026 - D		 Termination of Agreement
(2026052600102003)		 XXXXXXX XXXXX XXXXXXX XXXXXXXXXXX XX XXX XXXX
05/29/2026 - R
04/30/2026 - D		 Satisfaction of Mortgage
(2026052600102002)		 XXXXXXXXXXX XX XXX XXXX XXXXXXX XXXXX XXXXXXX
05/29/2026 - R
04/30/2026 - D		 Termination of Assign of L&R
(2026052600102001)		 XXXXXXX XXXXX XXXXXXX XXXXXXXXXXX XX XXX XXXX
05/06/2026 - R
04/30/2026 - D		 Deed
(2026050500337002)		 XXX XXXXXXXXXXX XX XXX XXXX XXXXX XXXXX XXX XXXX XXXXXX XXX
05/06/2026 - R
04/30/2026 - D		 Assignment of Lease
(2026050500337001)		 XXX XXXXXXXXXXX XX XXX XXXX XXXXX XXXXX XXX XXXX XXXXXX XXX
10/16/2024 - R
10/11/2024 - D		 Subordination of Mortgage
(2024101500915006)		 XXXXXXX XXXXX XXXX XXX XXXXXXXXXXX XX XXX XXXX
10/16/2024 - R
10/11/2024 - D		 Assignment of Leases and Rents
(2024101500915005)		 XXXXXXXXXXX XX XXX XXXX XXXXXXX XXXXX XXXX XXX
10/16/2024 - R
10/11/2024 - D		 Agreement
(2024101500915004)		 XXXXXXXXXXX XX XXX XXXX XXXXXXX XXXXX XXXX XXX
10/16/2024 - R
10/11/2024 - D		 Mortgage
(2024101500915003)		 XXXXXXXXXXX XX XXX XXXX XXXXXXX XXXXX XXXX XXX

*Most recent recorded documents on file for this property.

R: Recorded date
D: Document date

Tax

Property taxes for New York Palace Hotel - 457 Madison 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
$964,653
Municipal exemptions
Recent tax assessments
Market value
$21,834,000
Assessed value
$9,825,300

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 $21,895,000 $9,852,750 $8,041,140 10.848% $872,303 $872,303 +12.82%
2024/25 $21,172,000 $9,527,400 $7,184,340 10.762% $773,179 $773,179 +13.74%
2023/24 $17,453,000 $7,853,850 $6,417,810 10.592% $679,774 $679,774 +6.65%
2022/23 $16,451,000 $7,402,950 $5,987,340 10.646% $637,412 $637,412 +6.43%
2021/22 $12,375,000 $5,568,750 $5,568,750 10.755% $598,919 $598,919 +2.55%
2020/21 $12,375,000 $5,568,750 $5,461,290 10.694% $584,030 $584,030 +5.82%
2019/20 $12,655,000 $5,694,750 $5,237,905 10.537% $551,918 $551,918 +8.12%
2018/19 $12,670,000 $5,701,500 $4,855,225 10.514% $510,478 $510,478 +8.98%
2017/18 $12,211,000 $5,494,950 $4,455,065 10.514% $468,406 $468,406 +8.75%
2016/17 $10,770,000 $4,846,500 $4,073,495 10.574% $430,731 $430,731 +6.00%
Permits

Permit information for New York Palace Hotel - 457 Madison Avenue, New York, NY

Filing date Job type Job status Job description Initial cost
03/18/2014 Alteration type 2
09/26/2012 Alteration type 2
07/03/2012 Alteration type 2
07/03/2012 Alteration type 2
06/29/2012 Alteration type 2

*Most recent permits on record for this property.

More about New York City property records

Violations

DOB Violations

Violation ID Issue date Type Status
12/08/2017 E-elevator elevatorrequired
01/03/2017 Acc1-(other BLDGS types) - elevator affirmation of correction
10/30/2015 E-elevator

*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 & 53rd St at SE Corner
Station lines
E-M
Distance (miles)
0.103
View subway map

Access the detailed traffic volume map for New York Palace Hotel - 457 Madison Avenue, New York, NY 10022 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 New York Palace Hotel - 457 Madison Avenue, New York, NY

39 E 51st St, New York 14 E 52nd St, New York 37 E 50th St, New York 7 E 51st St, New York 320 Park Ave, New York 11 E 51st St, New York 485 Madison Ave, New York 18 E 50th St, New York 16 E 52nd St, New York 625 5th Ave, New York 5 E 51st St, New York 40 E 52nd St, New York 455 Madison Ave, New York 48 E 50th St, New York 477 Madison Ave, New York 34 E 51st St, New York 611 5th Ave, New York 300 Park Ave, New York 437 Madison Ave, New York

Nearby ZIP codes for New York Palace Hotel - 457 Madison Avenue, New York, NY

10017, New York City, NY 10020, New York City, NY 10021, New York City, NY 10065, New York City, NY 10103, New York City, NY 10112, New York City, NY 10152, New York City, NY 10154, New York City, NY 10165, New York City, NY 10167, New York City, NY 10169, New York City, NY 10170, New York City, NY 10171, New York City, NY 10172, New York City, NY 10173, New York City, NY 10174, New York City, NY 10177, New York City, NY

Frequently asked questions

What is the year built for New York Palace Hotel - 457 Madison Avenue, New York, NY 10022?

The development at New York Palace Hotel - 457 Madison Avenue, New York, NY 10022 was built in 1885.

What is the market value of New York Palace Hotel - 457 Madison Avenue, New York, NY 10022?

The current market value of New York Palace Hotel - 457 Madison Avenue, New York, NY 10022 is $21,834,000.

What is the total square footage of New York Palace Hotel - 457 Madison Avenue, New York, NY 10022?

New York Palace Hotel - 457 Madison Avenue, New York, NY 10022 has a total of 22,350 square feet.

What is the price per square foot for this property?

$21,973 per square foot is the price for New York Palace Hotel - 457 Madison Avenue, New York, NY 10022.

How many commercial spaces does this building have?

The number of commercial spaces in this building is 2.

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