{"id":182672,"date":"2026-04-01T21:09:10","date_gmt":"2026-04-01T21:09:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/us-ny\/182672\/"},"modified":"2026-04-01T21:09:10","modified_gmt":"2026-04-01T21:09:10","slug":"soloviev-signs-record-manhattan-office-rent-at-9-west-57th","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/us-ny\/182672\/","title":{"rendered":"Soloviev Signs Record Manhattan Office Rent At 9 West 57th"},"content":{"rendered":"

New York\u2019s office market has a new high-water mark \u2014 the latest sign of the growing divide between struggling, outdated buildings and Manhattan\u2019s high-demand towers.\u00a0<\/p>\n

Stefan Soloviev\u2019s<\/a> Soloviev Group signed a lease at 9 West 57th Street <\/a>at $327.50 per square foot. That surpasses the previous record of $320 per foot, establishing a new high bar as these high triple-figure deals become more common.<\/p>\n

\u201cThe price speaks for itself,\u201d Soloviev said.<\/p>\n

The tenant is a private international family office, Soloviev said. The 10-year deal covers 5,063 square feet on the northwest corner of 9 West\u2019s 50th floor, which offers the best views of Central Park.\u00a0<\/p>\n

The previous record-holder was SL Green\u2019s One Vanderbilt, which in 2022 signed a 9,871 square-foot deal on its highest office floor with the Canadian waste management company GFL Environmental.<\/p>\n

Rents above $300 a foot are still extremely rare a decade after L&L Holdings first broke that mark<\/a> in 2015 when Ken Griffin\u2019s Citadel paid that price for the penthouse portion of its 200,000-square-foot space at 425 Park Avenue<\/a>. But they are becoming more common.<\/p>\n

Manhattan recorded one such lease last year when SL Green signed the infrastructure service provider Kyndryl to a $305 per square foot deal for 6,300 square feet at One Vanderbilt.<\/p>\n

But the market could be headed more toward that direction. Deals for previous price barriers that were once thought to be exceptional \u2014 such as $100 and $200 a foot \u2014 are now much more commonplace.<\/p>\n

New York saw a record 313 leases starting at $100 per square foot or more in 2025, up from 2024\u2019s record of 212 leases, according to JLL\u2019s annual report of top-of-market deals. There were 28 deals at $200 per square foot or higher, including six deals above $250.<\/p>\n

Soloviev signed three of those $200-plus deals at 9 West 57th Street.<\/p>\n

Manhattan\u2019s average asking rent grew to $76 per square foot at the end of 2025, its highest level in five years but still below the peak set at the height of the market in 2019.<\/p>\n

But New York is still in the midst of a K-shaped recovery, where a flight to quality has benefitted buildings already performing well and deepened the problems for struggling ones.<\/p>\n

Nationwide, the CMBS office delinquency rate was a record-high 12.34 percent in January, according to Trepp. That was driven by two very large loans backing New York office buildings: Worldwide Plaza and One New York Plaza.<\/p>\n

A CBRE team led by Howard Fiddle represented Soloviev in the 9 West deal. Newmark\u2019s Howard Hersch negotiated on behalf of the tenant.<\/p>\n

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One Vanderbilt lease at $300+ psf may be city\u2019s highest office rent ever<\/p>\n

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Soloviev fills 100K sf at 9 West 57th with investment firm<\/p>\n

\t\t\t<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"New York\u2019s office market has a new high-water mark \u2014 the latest sign of the growing divide between…\n","protected":false},"author":2,"featured_media":182673,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[75,84,83,9,24,63,73623],"class_list":["post-182672","post","type-post","status-publish","format-standard","has-post-thumbnail","category-manhattan","tag-manhattan","tag-manhattan-headlines","tag-manhattan-news","tag-new-york","tag-new-york-city","tag-nyc","tag-soloviev-office-record-rent"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/182672","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=182672"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/182672\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/182673"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=182672"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=182672"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=182672"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}