590 Madison AveNew York, NY 10022

Property Details for 590 Madison Ave

Year built

1981

Lot size

0.90 AC

Property size (Sq ft)

999,646 SF

Zone code

C5-3

Property type

Office buildings

APN

01292-0015

APU

12920015

Description

This Class A, 25,030 square foot office building at 590 Madison Avenue, 21st Floor, in New York, NY 10022 offers a variety of executive suites, coworking spaces, and creative office solutions. The building, renovated in 2019, features 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. The property boasts stunning views from its modern, wrap-around windows and includes state-of-the-art business lounges, meeting rooms, and videoconferencing studios. Amenities include elevators and convenient access to upscale dining options such as Empire Steakhouse, Trump Cafe, and Armani Ristorante, located directly across the street. This multiple-tenancy building is located in New York County and provides a prestigious address for businesses seeking a high-profile location in the heart of Manhattan. The impressive three-story lobby creates an immediate positive impression for clients and partners. This is an exceptional opportunity to secure prime office space in a highly desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $165,271,344

  6.5%

  $152,558,160

  7%

  $141,661,152

• Comparable approach

  Method

  Valuation

  Relative Method

  $130,613,744

  Geo Method

  $130,613,744

• Alternative Use

  Use

  Valuation

  Residential

  $189,172,128

  Hospitality

  $173,280,640

  Educational

  $144,167,472

  Medical

  $149,125,600

  Retail

  $224,260,496

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7621

Longitude

-73.973

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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