Soloviev Group refinances West 57th Street tower – Business News
We had been glad to study, and never shocked, that Soloviev Group refinanced its flagship 9 West 57th St. tower to the tune of $1.8 billion by way of lead lender Bank of America.
Soloviev Group refinanced 9 West 57th St. tower by way of Bank of America. Brian Zak/NY Post
The 1.7 million square-foot midblock tower with a well-known swooping facade lately achieved presumably the best rent ever recorded within the metropolis — $340 per sq. foot for investment firm HBeyond. Other lately signed tenants embody Hess Group, Beaconlight Capital and Platinum Equity, following bigger footprints for Apollo Global Management, Chanel and others.
The tower is basically 100% leased, a exceptional achievement since Soloviev Group chairman Stefan Soloviev took control following the passing of his father, Sheldon Solow, in 2020 when the property was 50% obtainable within the midst of the pandemic.
The tower is basically 100% leased, up from 50% within the midst of the pandemic in 2020. Brian Zak/NY Post
But what we’re ready for is phrase from Soloviev concerning his large assemblage throughout the road at Nos. 6-24 West 57th — which is one of the biggest empty tons, and doubtless essentially the most seen one, in central Manhattan.
Earlier studies had him ready to seek out an anchor workplace tenant or pursuing a condo-hotel project. Either route can be excellent news for 57th Street between Fifth and Sixth avenues which has too many empty websites behind plywood and chain-link fences.
