587 Fifth Avenue, located in Manhattan's Plaza District, is a 10-story office building that provides a range of leasing options, including coworking and subleasing. With a Class B rating and covering an area of 44,116 square feet, the property offers various rental choices, catering to small, medium, and large businesses. It is equipped with fiber providers such as Verizon New York, Lightower, and Stealth Communications. The building enjoys excellent transportation access, as it is conveniently located within walking distance of multiple train lines, including B, D, F, M, E, and 7. In 2022, the average rental price for office space is $45.0 per square foot, which marks a decrease from the 2019 average price of $69.0 per square foot. This reduction is an unexpected deviation from the prevailing market trends.
587 Fifth Avenue Property Overview
| Bulding Address: | 587 Fifth Ave |
| Building Alternate address(es): | 587 5th Ave |
| Zip Code: | 10017 |
| Neighborhood: | Plaza District |
| Borough: | Manhattan |
| Stories: | 10 |
| Year Built: | 1920 |
| Building Class: | B |
| Block & lot: | 01283-0072 |
Public Transportation
Time and Distance from 587 Fifth Avenue New York, NY 10017
| Transit / Subway |
Distance |
Walk |
| 47-50 Streets-Rockefeller Center Transit Stop (B, D, F, M) |
0.2 mi |
5 min |
|
| 5 Avenue-53 Street Transit Stop (E, M) |
0.3 mi |
6 min |
|
| 5 Avenue-Bryant Park Transit Stop (7) |
0.3 mi |
6 min |
|
| 51 Street Transit Stop (4, 6) |
0.5 mi |
9 min |
|
| 42 Street-Bryant Park Transit Stop (B, D, F, M) |
0.5 mi |
10 min |
|
Internet Providers at 587 Fifth Avenue
| Internet Provider | Technology | Max Download Speed | Max Upload Speed |
| Verizon New York |
Fiber |
1 Gb/s |
25 Mb/s |
| Lightower |
Fiber |
10 Gb/s |
10 Gb/s |
| Stealth Communications |
Fiber |
10 Gb/s |
10 Gb/s |
Office Tenants Rented / Leased 587 Fifth Avenue- Art De La Beaute Corporation leased 8,660 SF
- Gemological Science Insti… leased 4,110 SF
- Nest Seekers leased 4,330 SF
- Fieve Clinical Research leased 1,622 SF
- Ses Creations leased 500 SF
- Just One Life leased 2,750 SF
Nearby Office Tenants Leased- Bank Leumi USA leased 60,000 SF at 579 Fifth Ave
- Barneys leased 48,000 SF at 575 Fifth Ave
- Sephora leased 12,482 SF at 597 Fifth Ave
- Halyard Capital Management leased 7,900 SF at 600 Fifth Ave
- Andiamond LLC leased 5,063 SF at 590 Fifth Ave
- EGL Gem Labs Ltd. leased 5,000 SF at 580 Fifth Ave
- N.E.R. Diamonds leased 1,280 SF at 576 Fifth Ave
- MJH Sales Inc. leased 631 SF at 609 Fifth Ave
Nearby Retail Tenants Leased- H&M; leased 57,000 SF at 589 Fifth Ave
- Guess leased 13,000 SF at 575 Fifth Ave
- Sunglass Hut leased 7,000 SF at 605 Fifth Ave
- Free People leased 7,000 SF at 600 Fifth Ave
- Lao Feng Xiang Jewelry leased 4,500 SF at 585 Fifth Ave
- Skechers USA leased 2,000 SF at 590 Fifth Ave
- Michel Cluizel leased 750 SF at 580 Fifth Ave
