ZIP codes 10019 · DOF Supplemental Market Value Roll, July 2026
The archetypal pied-à-terre neighborhood
ZIP 10019 carries 9,343 condo and co-op units on the Department of Finance roll, of which 975 — about 10% — sit above the $1,000,000 condo/co-op threshold. That share looks modest only because the ZIP also holds a large stock of ordinary Midtown apartments. The units that do clear the line are another matter: they are the supertall trophy residences of Central Park Tower (217 West 57th), One57 (157 West 57th), 111 West 57th (Steinway), 53 West 53rd, 220 Central Park South and 768 Fifth Avenue. A great many are non-primary second homes held by out-of-state and foreign buyers — the exact profile the pied-à-terre surcharge was written to reach.
Why the average bill here is enormous
The surcharge is charged on a unit's DOF market value — the Market Value line on your Notice of Property Value — not the assessed value and not the last sale price. Above $1,000,000 the rate is a flat 4% on the full market value, rising to 5.25% above $3,000,000 and 6.5% above $5,000,000. On Billionaires' Row those market values run into the tens of millions, so a $20,000,000 unit owes $1,300,000 a year, and a $6,000,000 unit owes $390,000. Across the 975 over-threshold units, the maximum combined annual surcharge for the ZIP reaches $84.7 million. The neighborhood's median DOF market value is $347,801, a reminder that the ordinary stock drags the middle down while the towers carry the exposure.
Who owes and who doesn't
The tax applies only in a year the unit is not someone's primary residence, and it takes effect July 1, 2026, with Phase 1 running through June 30, 2028. There are three clean ways to owe nothing: occupy the unit more than half the year as a primary residence, yourself or an immediate family member; lease it arm's-length for twelve months or more; or sell. For owners who do none of those, the bill turns on the market value DOF assigns — which is why it pays to know which towers concentrate the most exposed units.
| Building | Units over $1M |
|---|---|
| 217 West 57th Street | 144 |
| 53 West 53rd Street | 111 |
| 157 West 57 Street | 91 |
| 220 Central Park South | 89 |
| 768 Fifth Avenue | 78 |
| 111 West 57 Street | 46 |
Frequently asked questions
Does the pied-à-terre tax apply to Billionaires' Row?
Yes. The supertall towers along Central Park South are the core of what the tax targets. Of the 9,343 condo and co-op units in ZIP 10019, 975 sit above the $1,000,000 threshold, and most of those over-threshold units are the trophy residences on Billionaires' Row — a large share held as non-primary second homes, which is exactly when the surcharge applies.
How much is the pied-à-terre tax on a Central Park South condo?
It depends on your unit's DOF market value, not its sale price. Above $1,000,000 the rate is a flat 4% of the full market value, 5.25% above $3,000,000, and 6.5% above $5,000,000. So a $1,500,000 unit owes $60,000 a year, a $6,000,000 unit owes $390,000, and a $20,000,000 unit owes $1,300,000 — but only in years it is not your primary residence.
I own at One57 or 220 Central Park South — what do I owe?
Look up your unit's DOF market value on your Notice of Property Value; that figure, not your purchase price, sets the bill. Multiply by 4% up to $3,000,000, 5.25% from $3,000,000 to $5,000,000, and 6.5% above $5,000,000, applied as a flat rate to the whole value. You owe nothing in any year the unit is your primary residence, is leased arm's-length for 12-plus months, or is sold.
I'm a foreign owner of a Central Park South pied-à-terre — how do I avoid the tax?
There are three lawful paths to owing nothing in a given year: occupy the unit more than half the year as your primary residence or that of an immediate family member; lease it arm's-length for twelve months or more; or sell it. Absent one of those, a non-primary unit owes the surcharge on its DOF market value once the effective date, July 1, 2026, arrives.
Which Billionaires' Row buildings have the most units over the threshold?
By over-threshold unit count in ZIP 10019: 217 West 57th Street (Central Park Tower) leads with 144, then 53 West 53rd Street with 111, 157 West 57th Street (One57) with 91, 220 Central Park South with 89, 768 Fifth Avenue with 78, and 111 West 57th Street (Steinway) with 46. These towers concentrate the neighborhood's exposure.
A DOF notice arrived about my Central Park South unit — what do I do?
Read the Market Value line first, because the surcharge is calculated on that figure, not on assessed value or your sale price. Confirm whether DOF has your unit flagged as non-primary. If the unit is your primary residence, is leased 12-plus months, or is being sold, you owe nothing and should document that status. Otherwise, apply the flat rate to the market value to estimate your bill.
How do I check my unit's DOF value for free?
The Department of Finance publishes each unit's market value on the Notice of Property Value and on its online property records, at no cost. Use the Market Value figure — not assessed value and not what you paid — since that is what the surcharge is charged on. For co-ops, DOF imputes a per-unit value by fractional share on its July 2026 Supplemental Market Value Roll.
Is the tax based on what I paid for my Central Park South apartment?
No. It is charged on the DOF market value shown on your Notice of Property Value, not the last sale price and not the assessed value. On Billionaires' Row the DOF market value can differ substantially from a recent purchase price, so always run the rate against the Market Value line to estimate the surcharge accurately.
When does the pied-à-terre tax start and how long does it last?
It takes effect July 1, 2026. Phase 1 runs through June 30, 2028, using current DOF market values. In 2028, Phase 2 re-tests values against comparable sales. The surcharge applies each year the unit is not a primary residence, so your liability can change year to year depending on how the unit is occupied, leased, or sold.
Own in Central Park South? Get your exact number.
Free emailed report: your unit's official DOF market value — co-ops resolved directly from the roll, no share percentage needed — the surcharge test, and a rent-versus-sell comparison if you're over the line. Usually within the hour.
Check My Unit — FreeMethodology. Figures aggregate DOF's Supplemental Market Value Roll (July 2026) for ZIP codes 10019; ZIP boundaries approximate neighborhood borders, so edge blocks may sit in an adjacent total. Condo, co-op and mixed condo units only. "Max annual surcharge" assumes no unit qualifies for an exemption; actual collections will be lower. The surcharge is a flat statutory rate on the unit's full DOF market value once over the $1,000,000 threshold, charged only for years the unit is not a primary residence. Educational information, not tax or legal advice.