Figures computed from the FY2026–27 DOF assessment roll. Surcharge estimated at the flat Phase-1 rates (4% $1–3M, 5.25% $3–5M, 6.5% over $5M) on each unit's full DOF market value; applies to non-primary residences only.
The quantitative picture
DOF market values at 111 West 57th Street (Steinway Tower) run from about $343,472 at the low end to $5,694,756 at the top, with a median of $2,951,922 — meaning the typical unit already clears the $1M threshold. A median unit that isn't a primary residence owes roughly $118,077 a year (4% of its full DOF value); the building's most valuable residence owes about $370,159 a year at the 6.5% rate. Across the 56 exposed units, the surcharge totals an estimated $8.4 million annually — an average of about $149,405 per exposed unit.
Of those 56 exposed units, 35 carry DOF values between $1M and $3M (the 4% band), 16 between $3M and $5M (5.25%), and 5 above $5M (6.5%) — most exposed units sit in the 4% band, just over the line — a $1.5M DOF value owes $60,000 a year, not a rounding error.
The last three closed sales
From ACRIS, the building's three most recent recorded deeds over $1 million:
| Date | Residence | Recorded price |
|---|---|---|
| Jun 1, 2026 | PH76 | $41,750,076 |
| Feb 19, 2026 | 36 | $18,000,000 |
| Feb 11, 2026 | 17S | $12,255,000 |
Note the gap between these prices and the tax base: the surcharge is charged on the DOF market value — an income-derived figure that runs far below open-market numbers — not on what a unit trades for. A residence that closes at $41.8M does not owe 6.5% of $41.8M; it owes the flat rate on its (much lower) DOF market value. That distinction is the single most misunderstood part of the tax, and the reason a free DOF-value lookup is worth more than any sale-price estimate.
The building
111 West 57th Street, also known as Steinway Tower, was completed in 2022 and was designed by SHoP Architects for JDS Development Group and Property Markets Group. It is widely reported as the world’s skinniest skyscraper, with a slenderness ratio of about 24:1.
Where it is
111 West 57th Street, Midtown West.
Is your 111 West 57th Street (Steinway Tower) unit exposed?
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Check My Unit — FreeDisclaimer & method. Educational information from Conquest, a licensed New York real estate brokerage — not legal, tax, or accounting advice. Building figures are computed from the FY2026–27 DOF assessment roll at the statutory flat Phase-1 rates (4% $1–3M, 5.25% $3–5M, 6.5% over $5M) on each unit's full DOF market value, and represent exposure if every over-threshold unit were a non-primary residence; actual liability depends on each owner's occupancy and exemptions. Sale prices are recorded deeds from ACRIS.