|Address:||551 Fifth Avenue||Class:||A|
|Cross Streets:||45th & 46th Streets||Size:||430,165 SF|
|Year built:||1926||Architect:||Sloan & Robertson, Fred F. French Company|
The striking office building at 551 Fifth Avenue in Midtown Manhattan was completed in 1927, boasting an Art Deco design by Sloan & Robertson, who designed it for the Fred F. French Company. It was the tallest building on Fifth Avenue upon completion, and underwent a complete restoration in the early 1990s, earning the BOMA 1994-1995 Historic Building of the Year award. In 2004, 551 Fifth Avenue was added to the National Register of Historic Places. Nowadays, the building is owned by The Feil Organization, and is home to various office and retail tenants.
430 KSF of Class A Grand Central Office Space
The Fred F. French Building features 430,165 square feet of Class A Grand Central office space, as well as 25,000 square feet of prime retail space. The 38-story tower has been fully renovated, and includes an updated lobby, modern elevators, and amenities like on-site management, 24/7 access, car charging stations, and on-site restaurants.
Getting to and from 551 Fifth Avenue
The Fred F. French Building at 551 Fifth Avenue benefits from an excellent location in the heart of Midtown, offering convenient access to Grand Central Station. Tenants working in the building have access to Metro North and Amtrak lines, as well as several subway lines, including the 4, 5, 6, and 7 trains. Bryant Park is also located nearby, offering access to several other subway options, including the B, D, F, and M trains.
Who is renting office space at 551 Fifth Avenue?
The office building at 551 Fifth Avenue is home to various office-using tenants in industries like media, law, real estate, financial services, and education. Notable tenants on the building’s roster include Denihan, the Audio Engineering Society, Zamir Equities, Adecco, Marous Law Group, Fryer & Ross, Hyde Park Advisors, Pace University, and Knotel. Retail tenants include Tommy Bahama and Morton’s Steakhouse.
How much is the rent price for office space at 551 Fifth Avenue?
Office asking rents at 551 Fifth Avenue tend to be roughly on par with the Midtown Manhattan average, which reached a post-recession high of $88 per square foot in 2019. The submarket is home to a plethora of high-profile office tenants, and has historically been one of the most coveted business districts in New York City, consequently, office rents are some of the highest in the city.