The uniquely shaped Lipstick Building at 885 Third Avenue, offering Class A office space in NYC.

Image via Google Street View

Address: 885 Third Avenue Class: A
Cross Streets: 53rd & 54th Streets Size: 636,192 SF
Year built: 1986 Architect: John Burgee Architects with Philip Johnson

The instantly recognizable Lipstick Building in Midtown Manhattan is a beloved staple on the New York City skyline, boasting a unique and innovative design by Philip Johnson and John Burgee Architects. The tower was built in 1986 and features a lipstick tube-like design that appears to telescope in form. The architecture of the 34-story building was conceived in this peculiar way in order to conform to zoning restrictions in place at the time.

The office tower at 885 Third Avenue is home to various high-profile tenants, and it was where Bernard Madoff devised his massive Ponzi scheme that was uncovered in 2008.

Class A Office Space Available at 53rd on Third

The 600,000-square-foot office tower also known as 53rd on Third is located in the prestigious Plaza District  in Midtown Manhattan, and offers high-quality Class A office space. Amenities includes a pedestrian plaza and two restaurants on the building’s ground floor, Crimson & Rye and Wolfgang’s Steakhouse.

The tower was previously owned by Metropolitan 885 Third Avenue Leasehold LLC, which filed for bankruptcy in 2010. IRSA International then acquired a 49% stake in the building for an undisclosed amount, while Marciano Investment Group also purchased a 42% stake. The property is subject to a ground lease held by Ceruzzi Properties, expiring in 2082. CBRE is the property manager, while NKF handles leasing efforts.

Getting to and from the Lipstick Building

The Lipstick Building is conveniently situated between East 53rd Street and 54th Street, right across the street from the Citigroup Center. Employees working within the building have easy access to the nearby E, M and 6 subway lines via the Lexington Avenue-53rd Street station.

Who is renting office space at the Lipstick Building?

High-profile office-using tenants at the Lipstick Building include Herald Square Properties, Stone Hill Capital Management, Latham & Watkins, and Toll Brothers, among others. The excellent location and the iconic status of the building serve to attract tenants in the financial services and law industries looking for quality Midtown Manhattan office space.

How much is the rent price at the Lipstick Building?

Office asking rents at the Lipstick Building are quite steep, often nearing $90 per square foot–roughly on par with the average rents commanded in the sought-after Midtown area. Prices in this submarket have reached a new post-recession peak in 2019, yet demand continues to be high and availability remains low.

Available Space

Interested in office space at 885 Third Avenue, Lipstick Building ?
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Building Location & Nearby Public Transportation

Nearby Transportation


53rd Street–Lexington Avenue - 5 minutes Walk
Lexington Avenue–59th Street - 8 minutes Walk
51st Street (6) - 6 minutes Walk
59th Street (456) - 8 minutes Walk


East 50th Street/2nd Avenue - 7 minutes Walk
East 50th Street/3rd Avenue - 7 minutes Walk
East 50th Street/Lexington Avenue - 8 minutes Walk
East 49th Street/3rd Avenue - 8 minutes Walk
East 49th Street/2nd Avenue - 8 minutes Walk
East 60th Street/2nd Avenue - 8 minutes Walk
1st Avenue & East 57th Street - 7 minutes Walk
2nd Avenue & East 57th Street - 3 minutes Walk
2nd Avenue & East 50th Street - 7 minutes Walk
2nd Avenue & East 54th Street - 2 minutes Walk
2nd Avenue & East 61st Street - 8 minutes Walk
East 57th Street & 3rd Avenue - 4 minutes Walk
East 57th Street & Lexington Avenue - 5 minutes Walk
3rd Avenue & East 55th Street - 2 minutes Walk

Important Information

Listings are presented for illustrative purposes only; they may no longer be available and are provided merely as an exemplary representation of the types of spaces in a given neighborhood for a given price.