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Soloviev Group has secured a record-setting office lease at its flagship tower, 9 West 57th Street in Midtown Manhattan, highlighting continued demand for premier space in New York City. The landlord signed a 10-year lease with a private international family office, which will take 5,063 square feet on the northwest corner of the building’s 50th floor.
The transaction is notable for its pricing. The tenant agreed to an average rent of $327.50 per rentable square foot over the lease term, a level believed to be the highest ever achieved in the New York City commercial marketplace. According to the company, the previous high-water mark for an office lease in the city was $320 per square foot, meaning this deal resets the benchmark for top-tier office rents.
Stefan Soloviev, chairman of Soloviev Group, underscored the significance of the outcome, commenting that “The price speaks for itself.” His remark reflects the confidence ownership has in both the asset and its positioning within the Midtown Manhattan office market, where select properties continue to attract tenants willing to pay a substantial premium.
On the brokerage side, CBRE represented the ownership in arranging the lease. The team included Howard Fiddle, John P. Maher, Gregg Rothkin, Alex Leopold, and Tara Rhodes. Their role was to market and negotiate the high-profile transaction on behalf of Soloviev Group, culminating in the record-breaking rent level for the space.
The incoming family office will join an established roster of high-profile tenants at 9 West 57th Street. Existing occupants include Apollo Global Management, CHANEL, Loews Corporation, Qatar Investment Authority, Coatue, Veritas, and Standard Industries, among others. This tenant mix reinforces the building’s positioning as a destination for global financial, luxury, and corporate users seeking premier office accommodations.
The lease further solidifies 9 West 57th Street’s status as one of New York City’s most coveted office addresses. By achieving a rent that surpasses the city’s previous record, the property demonstrates that, for select Midtown Manhattan towers, market appetite remains strong enough to support peak pricing for well-located, highly curated space.
The post Soloviev Group Sets NYC Office Rent Record With $327.50 PSF Lease at 9 West 57th Street appeared first on CRE Market Beat.
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