551 Fifth Avenue

Direct Office Spaces for Rent

$ / SF SF Monthly Rent
Negotiable 1,300 Negotiable
$ 55 1,100 $ 5,007
$ / SF SF Monthly Rent
Negotiable 3,200 Negotiable
$ 58 3,200 $ 15,466
$ / SF SF Monthly Rent
Negotiable 5,100 Negotiable
$ 72 5,100 $ 30,600

Sublease Office Spaces for Rent

$ / SF SF Monthly Rent
Negotiable 1,900 Negotiable
$ / SF SF Monthly Rent
Negotiable 3,000 Negotiable
$ 45 3,000 $ 11,250
$ / SF SF Monthly Rent
Negotiable 5,900 Negotiable
$ 55 6,800 $ 31,166

Nearby Coworking Office Spaces for Rent

Type of Space Class A Class B Class C
Windowed office/person $ 2,500/mo $ 1,500/mo $ 1,000/mo
Interior office/person $ 1,500/mo $ 1,000/mo $ 700/mo

Nearby Office Spaces for Rent

Address $ / SF SF Monthly Rent
Fifth Ave & West 45th Street $ 42 1,800 $ 6,337
44th Dr & Madison Avenue $ 45 2,000 $ 7,500
E 46th St & Fifth Avenue $ 42 1,500 $ 5,250
Address $ / SF SF Monthly Rent
E 45th St & Fifth Avenue $ 51 4,600 $ 19,358
Fifth Ave & East 45th Street $ 73 4,000 $ 24,333
Address $ / SF SF Monthly Rent
Fifth Ave & West 45th Street $ 63 5,800 $ 30,534
Fifth Ave & West 45th Street $ 67 5,900 $ 33,162
Fifth Ave & East 44th Street $ 57 13,100 $ 62,225
Fifth Ave & West 44th Street $ 68 7,800 $ 44,460
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551 Fifth Avenue

Located in the Grand Central neighborhood of Manhattan, 551 Fifth Avenue is a 38-story office building that offers a variety of options for renting, leasing, coworking, or subleasing office space. There are also opportunities for coworking at this location. Built in 1927, this building is classified as Class A and has a total of 430,156 square feet of rentable office space, accommodating offices of different sizes. Along with leasing options, subleasing options may also be available. Rental prices per square foot have followed market trends, with an average of $60.84 in 2022 and $58.54 in 2021.

Transportation is highly convenient, as there are multiple subway lines nearby. The 5 Avenue-Bryant Park Subway Station is only a four-minute walk away and provides access to the 7 train lines. The Grand Central-42 Street Subway Station, an eight-minute walk away, offers access to the 4, 42 St Shuttle, 5, 6, and 7 train lines. Both the 47-50 Streets-Rockefeller Center Subway Station and the 42 Street-Bryant Park Subway Station are also eight minutes away and provide access to the B, D, F, and M train lines. Finally, the 5 Avenue-53 Street Subway Station, located a nine-minute walk away, allows easy access to the E and M train lines.

551 Fifth Avenue Property Overview

Bulding Address: 551 Fifth Ave
Bulding Name: Fred F. French Building
Building Alternate address(es): 551 5th Ave
Zip Code:10176
Neighborhood:Grand Central
Borough:Manhattan
Stories:38
Year Built:1927
Building Class:A
Block & lot:01281-0001

Public Transportation

Time and Distance from 551 Fifth Avenue New York, NY 10176
Transit / Subway Distance Walk
5 Avenue-Bryant Park Transit Stop (7) 0.2 mi 4 min
Grand Central-42 Street Transit Stop (4, 42 St Shuttle, 5, 6, 7) 0.4 mi 8 min
47-50 Streets-Rockefeller Center Transit Stop (B, D, F, M) 0.4 mi 8 min
42 Street-Bryant Park Transit Stop (B, D, F, M) 0.4 mi 8 min
5 Avenue-53 Street Transit Stop (E, M) 0.4 mi 9 min

Map Location

Office Tenants Rented / Leased 551 Fifth Avenue
  • International Gemological Institute leased 20,400 SF
  • Schoeman, Updike & Kaufman LLP leased 16,000 SF
  • Schoeman Updike & Kaufman LLP leased 16,018 SF
  • ABM Industries leased 29,063 SF
  • Kleinberg, Kaplan, Wolff & Cohen PC leased 9,000 SF
  • Savin Diamond leased 5,054 SF
  • Stellar Corporate Service… leased 500 SF

Retail Tenants Rented / Leased 551 Fifth Avenue
  • Tommy Bahama leased 9,584 SF
  • Tommy Bahama leased 8,500 SF
Nearby Office Tenants Leased
  • Barneys leased 48,000 SF at 575 Fifth Ave
  • Reis leased 33,000 SF at 530 Fifth Ave
  • Institutional Credit Partners leased 20,383 SF at 360 Madison Ave
  • Axispoint Inc. leased 19,200 SF at 350 Madison Ave
  • GEP II LLC leased 10,493 SF at 555 Fifth Ave
  • Ascent Media Group leased 8,582 SF at 545 Fifth Ave
  • Redburn Partners leased 6,000 SF at 565 Fifth Ave

Nearby Retail Tenants Leased
  • General Electric leased 37,000 SF at 530 Fifth Ave
  • Barnes & Noble leased 34,000 SF at 555 Fifth Ave
  • Guess leased 13,000 SF at 575 Fifth Ave
  • Ricky's leased 3,500 SF at 550 Fifth Ave

Office Rent 551 Fifth Avenue Average

Year $ / SF
2018 59.86
2019 66.67
2020 92.53
2021 58.54
2022 60.84
Year $ / SF
2019 192.0
2023 53.0
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