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 The Plaza run from about $362,709 at the low end to $6,816,378 at the top, with a median of $980,676 — so the typical unit sits under the $1M threshold and owes nothing under Phase 1; the exposure is concentrated in the building's larger and higher-floor residences; the building's most valuable residence owes about $443,065 a year at the 6.5% rate. Across the 79 exposed units, the surcharge totals an estimated $6.0 million annually — an average of about $76,457 per exposed unit.
Of those 79 exposed units, 73 carry DOF values between $1M and $3M (the 4% band), 3 between $3M and $5M (5.25%), and 3 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. DOF files the building as 768 5 Avenue, which is where owners will find their unit on the roll.
The last three closed sales
From ACRIS, the building's three most recent recorded deeds over $1 million:
| Date | Residence | Recorded price |
|---|---|---|
| Aug 4, 2026 | 702 | $2,160,000 |
| Mar 26, 2026 | 1013 | $6,900,000 |
| Mar 13, 2026 | 1527 | $1,540,224 |
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 $2.16M does not owe 4% of $2.16M; 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
The Plaza at 1 Central Park South was completed in 1907 and was designed by Henry Janeway Hardenbergh. The condominium conversion was developed by Elad Properties, and the building was designated a National Historic Landmark in 1986.
Where it is
1 Central Park South, Midtown West.
Is your The Plaza unit exposed?
The free review pulls your unit's official DOF market value, runs the exact surcharge, and shows what a 12-month lease or a sale would change — usually within the hour.
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.