Republic Point$61.50 – $74.87/SF/yr FS
Enterprise Park
195,900 SF office building at 498 Lexington Ave, New York, NY 10016. For Lease through the owner.
For LeaseStatus
$77.06/SFAsking rent
1956Year built
BClass
Property facts
| Property type | Office |
|---|---|
| Building class | B |
| Rentable area | 195,900 SF |
| Stories | 8 |
| Year built | 1956 |
| Renovated | 2003 |
| Typical floor | 24,487 SF |
| Lot size | 1.0 acres |
| Parking ratio | 2.5/1,000 SF |
| Occupancy | 100.0% |
| Zoning | C-3 |
| Parcel ID | 81-858-9415 |
| Submarket | Murray Hill |
| Market | New York City |
| Walk Score | 49 |
| Transit | Metro 2 min walk |
| Listing package | Basic |
Building amenities
LEED Gold, Food Service
Major tenants
| Tenant | Industry | Floor | SF | Lease expiry |
|---|---|---|---|---|
| Prairie Energy Services | Education | 6 | 33,000 | 2027-09-01 |
| Commonwealth Medical Group | Education | 3 | 33,760 | 2023-07-01 |
| Bluebonnet Insurance | Engineering | 4 | 47,520 | 2035-11-01 |
| Federal Contracting Associates | Education | 6 | 37,850 | 2018-04-01 |
Sale history
| Date | Price | $/SF | Cap rate | Buyer | Seller |
|---|---|---|---|---|---|
| 2024-04-17 | $23.3M | $118.95 | 5.07% | Halcyon Property Trust | Redwood Property Trust |
| 2023-07-20 | $87.88M | $448.59 | 6.27% | James River Properties | Silverline Holdings |
| 2022-12-19 | $52.52M | $268.12 | 6.54% | Pemberton Capital | Kestrel Investment Group |
Public record
| Owner of record | Halcyon Property Trust LLC |
|---|---|
| Assessed value | $45.54M |
| Land value | $19.6M |
| Improvement value | $25.95M |
| Annual tax | $649K |
| Tax year | 2026 |
| Lot size | 43,560 SF |
| Last deed | 2020-07-17 |
| Deed type | Grant Deed |
| Legal description | LOT 38 BLK 721 MURRAY HILL ADDN |
Location
498 Lexington Ave
New York, NY 10016
Murray Hill submarket · New York City market
40.75315, -73.97175
Open in RealStarListing package
Basic — Standard placement below paid listings.
Free listing on RealStarGlobal.com with core building facts, six photos and direct broker contact.
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