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550 Madison Avenue, New York, NY 10022

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550 Madison Avenue, New York, NY 10022

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Property Overview

Primary address 550 Madison Ave
Alternate address(es) 550-570 Madison Ave
14-28 E 56 St
13-29 E 55 St
Zip code 10022
Borough Manhattan
Block & lot 01291-0010
Lot dimensions
Lot sq. ft. 36,803 ?
Buildings on lot 1
Building class Office Only with or without Commercial - 20 Stories or More (O4)
Year built 1983
Building Sq. Ft.
Zoning

Building Description

Postmodern design with a nod to history created 550 Madison Avenue in Central Midtown. Originally built to house the corporate headquarters of AT&T, and now the former home of Sony, the towering 35-story skyscraper offers modern amenities within its 827,000 square feet. It is zoned for office and retail space, with 8 available commercial units. A massive glass-covered atrium invites light into the building, and spotlights space for retail or restaurants on the ground floor.

Easily identifiable in the sea of midtown buildings by its English Chippendale-style roof, the building's massive arched entry is flanked by high windows that show off the ground-floor tenants. Sandwiched between East 55th and 56th Streets with easy access to Madison Ave. high-end retailers and major corporate headquarters, the Sony Building is a few blocks from the E and M subway lines at the 53rd Street station. A plethora of art galleries just a block north of this location ensures plenty of after-work entertainment and shopping opportunities.

Ownership Information

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Owner Address  
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Other Critical Property Data

Neighborhood Central Midtown
School district number 2
Commercial units 8
Max Floor Area Ratio
Closest police station 0.31 Miles -
Closest fire station 0.49 Miles -
Certificate of occupancy

Sales & Property History

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Purchase date 5/26/2016
Purchase price

Permits

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Pre filing date Job type Job description
12/20/2016
12/20/2016
12/20/2016
12/01/2016
07/05/2016
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Property Taxes

Access detailed property tax data for 550 Madison Ave. Tax information included: property tax, market value and assessed value, exemptions, abatements, and assessment history.

Tax year 2016/2017
Tax assessor's market value $443,898,000
Projected tax assessor's market value $454,366,000
Current tax bill $17,515,102
Projected tax bill $19,011,939

Assessment History

Year Building class Market value Assessed value Taxable Tax rate% Base tax Property tax
2016/17 O4 $443,898,000 $199,754,100 $165,643,110 10.574% $17,515,102 $17,515,102
2015/16 O4 $440,969,000 $198,436,050 $151,792,290 10.656% $16,174,986 $16,174,986
2014/15 O4 $331,804,000 $149,311,800 $136,765,080 10.684% $14,611,981 $14,611,981
2013/14 O4 $326,729,000 $147,028,050 $133,992,720 10.323% $13,832,068 $13,832,068
2012/13 O4 $297,079,000 $133,685,550 $131,087,110 10.288% $13,486,242 $13,486,242
2011/12 O4 $290,000,000 $130,500,000 $125,860,000 10.152% $12,777,307 $12,777,307
2010/11 O4 $274,000,000 $123,300,000 $119,740,000 10.312% $12,347,589 $12,347,589
2009/10 O4 $301,000,000 $135,450,000 $113,080,000 10.426% $11,789,721 $11,789,721
2008/09 O4 $294,444,444 $132,500,000 $101,650,000 10.241% $10,409,977 $10,409,977
2007/08 O4 $239,000,000 $107,550,000 $93,070,000 10.059% $9,361,911 $9,361,911
2006/07 O4 $222,000,000 $99,900,000 $90,010,000 10.997% $9,898,400 $9,898,400
2005/06 O4 $200,000,000 $90,000,000 $87,180,000 11.306% $9,907,448 $9,856,571
2004/05 O4 $174,000,000 $78,300,000 $77,400,000 11.558% $9,049,914 $8,945,892
2003/04 O4 $208,000,000 $93,600,000 $89,420,000 11.431% $10,375,919 $10,221,600

Title Documents

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Document Date Type Amount Party1 name Party2 name Link To Doc
n/a
11/18/2016
11/18/2016
n/a
n/a
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Map

Neighbors

Here are the neighbors for 550 Madison Ave.

Address Property class Square feet Purchase date Purchase price
32 E 129 St, New York, NY Old Law Tenement(C4) 16,495 6/2/2006
2082 Madison Ave, New York, NY Old Law Tenement(C4) 8,845 11/5/2015
118 Madison Ave, New York, NY Elevator Apartment - Semi-Fireproof with Stores(D7) 32,917 6/6/2006
1410 Madison Ave, New York, NY Walk-up Apartment - Over Six Families with Stores(C7) 9,375 9/29/2008
1250-1254 5 Ave, New York, NY Elevator Apartment - Semi-Fireproof with Stores(D7) 532,700 2/3/2006
520 Madison Ave, New York, NY Zoned Commercial or Manhattan Residential(V1) n/a 2/12/2003
974-990 Madison Ave, New York, NY Office with Commercial - 1 to 6 Stories(O5) 118,635 11/8/2011
532 Madison Ave, New York, NY Office with Commercial 7-19 Stories(O6) 14,529 7/18/2001
16 E 89 St, New York, NY Other Private School(W8) 81,254 n/a
898 Madison Ave, New York, NY Elevator Apartments Cooperatives Building (Other than Condominiums)(XD4) 188,158 7/30/2010
1020 Madison Ave, New York, NY Predominant Retail with Other Uses(K4) 9,567 3/31/1977
2058-2080 Madison Ave, New York, NY Playground(Q2) n/a n/a
1490 Madison Ave, New York, NY Multi-Story Retail Building (2 or More)(K2) 17,400 4/29/2015
424 Madison Ave, New York, NY Office with Commercial 7-19 Stories(O6) 62,237 11/16/2006
148-150 Madison Ave, New York, NY Office with Commercial 7-19 Stories(O6) 71,871 12/29/2004

Demographics By Zip Code


Profile of Zip Code
Total population 29,699
Female population 16632 (56.0%)
Male population 13067 (44.0%)
Households 23172 (occupied 75.7%)
Home owners 8403 (47.9%)
Renters 9149 (52.1%)
Average number of people per household 1.66

Age Distribution
7.32
7.08
34.05
24.06
27.48
Under 15 15 to 24 25 to 44 45 to 64 65 and older

Alternate Addresses

There are a variety of reasons for which a parcel can have more than one address. The most common reasons are:

A building on the property has frontage on more than one street. Usually a parcel will be allocated addresses for every street on which it has frontage, even if it does not have a building on that street. The lot has frontage on a street that is wider than the standard frontage for a lot in that area. In this case the lot usually gets a range of addresses on that street. For example, instead of being 18 Main Street, the parcel may be allocated 18 - 20 Main Street. The wider the frontage, the wider the range. We have seen cases of a parcel having a range of more than 50 numbers (ie 18 - 76 Main Street). The lot has several freestanding buildings. Sometimes each building will get its own address, and other times the buildings are numbered ("18 Main Street, Building #1"). The lot has a "row house" style development in which each unit has a separate entrance. Whether the building is an apartment building, a condominium, or a coop, it will often get a separate address for each entrance. The building has more than one retail store at ground level. Often each store gets a separate address.


  • 550-570 Madison Ave, New York, NY

  • 14-28 E 56 St, New York, NY

  • 13-29 E 55 St, New York, NY
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