We were glad to learn, and not surprised, that Soloviev Group refinanced its flagship 9 West 57th St. tower to the tune of $1.8 billion through lead lender Bank of America.
The 1.7 million square-foot midblock tower with a famous swooping facade recently achieved possibly the highest rent ever recorded in the city — $340 per square foot for investment firm HBeyond. Other recently signed tenants include Hess Group, Beaconlight Capital and Platinum Equity, following larger footprints for Apollo Global Management, Chanel and others.
The tower is essentially 100% leased, a remarkable achievement since Soloviev Group chairman Stefan Soloviev took control following the passing of his father, Sheldon Solow, in 2020 when the property was 50% available in the midst of the pandemic.
But what we’re waiting for is word from Soloviev regarding his massive assemblage across the street at Nos. 6-24 West 57th — which is one of the largest empty lots, and probably the most visible one, in central Manhattan.
Earlier reports had him waiting to find an anchor office tenant or pursuing a condo-hotel project. Either route would be good news for 57th Street between Fifth and Sixth avenues which has too many empty sites behind plywood and chain-link fences.