Building Details

Year Built 1927

Stories 31

Construction Art Deco

Tenancy Multi

Spaces For Lease

at 420 Lexington Ave Contact us

The Graybar Bldg $62 – $65/SF/Yr

Floor

4

Size

2,028 SF

Type

OFFICE

Lease Type

GROSS

Availability

AVAILABLE, Now

Sublease

No

- Located on Lexington Avenue at 43rd Street directly above Grand Central Terminal,... 420 Lexington Avenue offers superior, Class-A office space in the heart of Manhattan, making it one of New York City’s most sought-after addresses. The 31-story, 1.5 million-square-foot tower, also known as the Graybar Building, was originally constructed in 1927 by the architectural firm Sloan & Robertson. It is a stellar example of Art Deco style and was once among the largest office buildings in the world. Today, its large floor plates and 32-passenger elevator cabs facilitate seamless movement throughout the building for tenants of all sizes. Tenants also enjoy the convenience and luxury of an on-site Equinox fitness club and direct access to Grand Central Terminal. - Completed in 1927 as one of the last structures of “Terminal City,” 1654the master plan for the area surrounding Grand Central Terminal, 420 Lexington is a defining piece of architecture. A mélange of Babylonian and Byzantine motifs, the building’s severely cubist setback massing is enlivened by relief sculptures, tile and metalwork, including figures that flank the monumental entries bearing the symbols of the four elements of earth, water, air and fire. Interiors include elaborately polychromed ceilings and ornamental bronze grills, doors and fixtures as well as wall and floor mosaics. A fanciful touch is the metal rats that adorn the ship cable-like struts of the main entrance, a detailed architect John Sloane intended to strike a “maritime note” in keeping with Grand Central’s significance as a transportation hub. - The building seamlessly merges into Grand Central Terminal via the Graybar Passage, a beautifully proportioned Romanesque hall of vaulted ceilings and bronze chandeliers that connects Lexington Avenue with the Terminals’ luminous Great Hall. A central nave is adorned with a large mural by the artist Edward Trumbull, also responsible for the murals that adorn the lobby of the adjacent Chrysler Building. Six Metro-North train platforms lead off from the Graybar Passage, making the building integral to commuting in the city. - 420 Lexington was originally named after a major early tenant, the Graybar Electric Company, a communications and telephone firm who listed the building as their corporate headquarters from 1927 to 1982. SL Green acquired a long-term operating lease on the building in 1988 and initiated a major restoration of the structure by the architectural firm of Beyer Blinder Belle, which included construction of a new entrance canopy and storefronts. A superb realization of aesthetics, technology, modern amenities, services and systems, joined to one of the greatest locations in New York City, the Graybar Building was made an official NYC Landmark in 2016. - Move-in condition

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Listing Agency: SL Green Realty Corp - Corporate Show Phone

Listed By: Larry Swiger Show Phone

Source: Moodyscre

Added: Feb 19, 2024 Changed: Sep 3 Last Checked: Sep 13 at 10:43AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SL Green Realty Corp - Corporate

Investment Insights

Based on property information with market context.

420 Lexington Avenue is a 31-story office tower originally constructed in 1927 and designed in an Art Deco style. The building offers large floor plates and features 32-passenger elevator cabs to support tenant movement throughout the property. An on-site Equinox fitness club is included, and the building is recognized as an official NYC Landmark (2016).

The property sits directly above Grand Central Terminal and connects seamlessly through the Graybar Passage, a Romanesque hall with vaulted ceilings and bronze chandeliers linking Lexington Avenue to the Terminal’s Great Hall. Six Metro-North train platforms lead off from the Graybar Passage, reinforcing the building’s integral role in the commuting experience. The building was acquired via a long-term operating lease by SL Green in 1988, with a major restoration initiated by Beyer Blinder Belle, including construction of a new entrance canopy and storefronts.

Key Highlights

• 31‑story, 1.5 million‑SF Art Deco office tower built in 1927 (Graybar Building)
• Direct connection to Grand Central Terminal via the Graybar Passage, linking Lexington Avenue to the Great Hall
• Graybar Passage provides access to six Metro‑North train platforms

Property Analytics

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Current Use

Law Debenture Business To Business Service Silverman & Sardar LLP Law Firm Younkins & Schecter LLP Law Firm Klein Richard S Law Firm Sternberg Law Firm, ... Law Firm

Suggested Use

Top Pick Pet Grooming Service Butcher Nursing Home Auto Parts Store Buffet Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Multi-tenant

Tenancy

NNN (Triple Net)

Lease Type

$9.30 /SF/Yr

CAM

Location Intelligence

Trade Area within ½ mile

85,433

Businesses Nearby

Explore this area Business Placement

Demographics for 10170, NY

40

Population

5

Households

8

Avg Household Size

19

Median Age

Market

Lease Benchmarks for New York, NY

$54.08 /SF/Yr

Avg Asking Price

$37–$79 /SF/Yr

Price Range

36,348 SF

Avg Space Size

This space is priced 15% above the average of $54.08 /SF/Yr.

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

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Frequently Asked Questions

What type of property is this?

Office building - 31-story Art Deco office tower built in 1927, directly connected to Grand Central Terminal via the Graybar Passage.

Where is this office building located?

The property is located at 420 Lexington Ave New York, NY.

What is the lease rate?

The lease rate is $62 SF/Yr.

What are key features of this property?

This property features: 31‑story, 1.5 million‑SF Art Deco office tower built in 1927 (Graybar Building); Direct connection to Grand Central Terminal via the Graybar Passage, linking Lexington Avenue to the Great Hall; Graybar Passage provides access to six Metro‑North train platforms