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550 7th Ave

Garment District, New York, NY
Floors
23
Total Size
251,467 sqft
Lot Size
0 acres
Year Constructed
1925
Year Renovated
0
LEED Certification
None
Number of Buildings
1

Features

Lobby Attendant
Common Bathrooms
Key Card Access

About 550 7th Ave

Rising just over 280 feet above 7th Avenue, this New York high rise houses 23 stories of rentable office space. Set in Penn Plaza, 550 7th Avenue was designed by architectural firm Buchman and Kahn and built in the year 1925.

Access to 550 7th Avenue is available 24 hours a day, 7 days a week. On-site security screens each person who enters the building, which ensures that each tenant is safe. Management is also found within the structure to resolve any issues that arise.

Within the lobby, marble details add to the grand entrance. The elevators themselves are works of art that were designed specifically for 550 7th Avenue. By the elevator bank, visitors see the tenant roster, which includes big names such as Ralph Lauren, Lilly Pulitzer, Donna Karan International and many more.

High ceilings, lots of natural light and high-end finishes make each unit special and luxurious. Outside the building, tenants enjoy easy access to fitness centers, shopping centers, eateries and public transportation. Times Square is also only a short walk away from this high rise.

From the street, passersby have the opportunity to see the stacked construction of 550 7th Avenue. While the lower floors are of uniform size, the upper floors recess, giving the building a crowned appearance.

Companies at 550 7th Ave

HSBC Bank Atm Finance

Internet Providers for 550 7th Ave

Provider Technology Max Download Speed Max Upload Speed
Level 3 Communications Fiber
10 Gb/s
10 Gb/s
Cablevision/Lightpath Fiber
10 Gb/s
10 Gb/s
Verizon New York Fiber
1 Gb/s
25 Mb/s
Time Warner Cable Cable
100 Mb/s
6 Mb/s
MegaPath DSL
50 Mb/s
50 Mb/s

The Neighborhood: Garment District

On average, listings lease in the $50's per square foot per year. The Garment District submarket is seeing a decline in rates. In the last 3 months, the median rate decreased $1 per sqft per year. That's a 2% decrease in rent.

Compared to the rest of the New York City market, the Garment District submarket has smaller rates, so you should have no trouble finding a great deal in this depreciated submarket.

Median Rate Median Size
Garment District $59
/sqft/yr
2,500
sqft
Median Rate Median Size
New York City $66
/sqft/yr
3,300
sqft

Median Rate over Time in Garment District