![\"Placeholder\"\/](\"https:\/\/www.newsbeep.com\/us-ny\/wp-content\/uploads\/2025\/10\/placeholder.png\")
<\/p>\nThe two priciest office leases in New York City history were signed in rapid succession.<\/p>\n
<\/p>\n
\n One Vanderbilt\n <\/p>\n
Nscale<\/a>, an Nvidia<\/a>-backed\u00a0artificial intelligence infrastructure company, agreed to pay $320 per SF in\u00a0a 7,204 SF, five-year lease for part of the 54th floor of One Vanderbilt<\/a>, SL Green<\/a>‘s supertall atop Grand Central Terminal<\/a>, according to JLL<\/a> data provided to\u00a0Bisnow.<\/p>\n Nscale, which develops data centers using Nvidia graphics processing units, raised $2B in its latest funding round, bringing its valuation to $14B, the British company announced last month<\/a>. It signed the lease during the first quarter, making it the priciest per-SF deal in city history at the time, according to JLL.<\/p>\n Joseph P. Day Realty Corp. Senior Vice President Craig Berman, Nscale’s leasing broker, declined to comment, as did a spokesperson for SL Green. Nscale didn’t immediately\u00a0respond to a request for comment.<\/p>\n The 1.6M SF One Vanderbilt was 100% leased at the end of last year, according to SL Green’s annual report<\/a>. It is unclear if another tenant moved out to make way for Nscale. The tower was valued at $4.7B when SL Green sold a 5% stake to\u00a0Mori Building Co. last year.<\/p>\n Not to be outdone, Soloviev Group<\/a>\u00a0announced Wednesday that it signed a tenant<\/a>\u00a0to a 5,063 SF, 10-year lease for the 50th floor of 9 W. 57th St. at a rental rate of $327.50 per SF. The tenant was an unnamed \u201cprivate international family office,\u201d according to\u00a0a press\u00a0release.<\/p>\n \u201cThe price speaks for itself,\u201d Soloviev Group Chairman Stefan Soloviev<\/a> said in a statement.<\/p>\n The first office lease in the city to cross the $300-per-SF threshold was\u00a0Citadel’s penthouse lease<\/a> at L&L Holding Co.’s 425 Park Ave. in 2016. One Vanderbilt had already broken that record when\u00a0GFL Environmental took the 10K SF top office floor in 2022 at an asking rent of $322 per SF, The Real Deal reported at the time<\/a>. It is unclear what rent GFL ultimately paid.<\/p>\n CBRE<\/a>‘s Howard Fiddle<\/a>, John Maher, Gregg Rothkin, Alex Leopold and Tara Rhodes represented Soloviev Group in its record-setting deal. SL Green’s\u00a0Steven Durels<\/a> and David Kaufman run leasing at One Vanderbilt.<\/p>\n The eye-watering prices are reflective of a Manhattan office market in which the best spaces are dwindling and their owners can ratchet up asking prices. Asking rents overall rose 3.5% in the first quarter from a year prior, according to JLL. Average Class-A rents are now north of $95 per SF, and direct vacancy in Midtown has fallen to 10%.\u00a0<\/p>\n Roughly 11.8M SF of office leases were signed in Manhattan during the first quarter, the most for any first quarter since 2014, according to Colliers<\/a>.\u00a0<\/p>\n