In some photos, I have seen an interesting building. It is almost next to the MetLife (ex-PanAm) Building. It is about 40 to 50 storeys high (quite difficult to judge in a photo). The plan of the building is in a U shape, while the two "wings" have multi set-back. In some view, it quite like an armchair. Just like other Art Deco Era buildings, it has marble-liked facade. I have looked for it in many websites but still cannot find it.
The following Graybar Building data is from the books NEW YORK 1930 and THE ARCHITECTURAL GUIDEBOOK TO NEW YORK CITY:
The Graybar Building (420 Lexington) changed hands recently, and as a result there
are a number of photographs on the web which may not be there much longer. The
leasehold was sold by former Helmsley interests to Stephen L. Green, who controls
the tenancy of the building through the year 2038. The land and the actual
building were controlled by MEPC American Properties, but were sold in the late
springtime to the group that had been the 25% minority partner up until then.
They own the land outright, and will regain the building in 2038.
I know this is a long time after the original question, but hope this information
is useful.