{"id":1004798017,"date":"2026-05-08T04:18:47","date_gmt":"2026-05-08T12:18:47","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004798017"},"modified":"2026-05-08T12:10:14","modified_gmt":"2026-05-08T20:10:14","slug":"soloviev-group-lands-1-8b-for-manhattan-office-tower","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/soloviev-group-lands-1-8b-for-manhattan-office-tower\/","title":{"rendered":"Soloviev Group Lands $1.8B for Manhattan Office Tower"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Solow-Building-9-W-57th-St-in-Manhattan.jpg\"><img decoding=\"async\" data-attachment-id=\"1004798020\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/soloviev-group-lands-1-8b-for-manhattan-office-tower\/solow-building-9-w-57th-st-in-manhattan\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Solow-Building-9-W-57th-St-in-Manhattan-e1778235565852.jpg\" data-orig-size=\"640,480\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;\\u00a9 Yardi Systems, Inc.&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Solow Building, 9 W 57th St in Manhattan\" data-image-description=\"&lt;p&gt;Image courtesy of Yardi Matrix.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The property rises 50 stories high.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Solow-Building-9-W-57th-St-in-Manhattan-e1778235565852.jpg?w=640\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/05\/Solow-Building-9-W-57th-St-in-Manhattan.jpg?w=640\" alt=\"Exterior shot of the office tower at 9 W 57th St. in Manhattan.\" class=\"wp-image-1004798020\" style=\"width:400px\"\/><\/a><figcaption class=\"wp-element-caption\">The 1.7 million-square-foot tower underwent a $50 million renovation program that was finalized in 2025. <em>Image courtesy of Yardi Matrix<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Soloviev Group has obtained a $1.8 billion loan to refinance the 1.7 million-square-foot office tower at 9 W. 57th St., in Manhattan\u2019s Plaza District. Bank of America issued the note, which bears an interest rate of 4.9 percent.<\/p>\n\n\n\n<p>Proceeds retire a previous 10-year $1.2 billion loan issued by JPMorgan Chase in 2016, according to Yardi Matrix information. That note was to mature in September.<\/p>\n\n\n\n<p>As part of the current transaction, Soloviev also hedged the index to protect against rising rates. After stabilization, the 50-story property is expected to achieve a $3.9 billion market value.<\/p>\n\n\n\n<p>Designed by Skidmore, Owings &amp; Merrill and completed in 1974, the high-rise features a 20,000-square-foot lounge\u2014which includes meeting rooms, conference space and an executive dining area\u2014as well as a 11,000-square-foot fitness center and an art gallery, among others. These amenities were part of a $50 million renovation program that was completed in 2025.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/top-commercial-mortgage-lenders-and-brokerage-firms\/\">Largest Commercial Real Estate Lenders<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The property\u2019s long-term tenants include Apollo Global Management, CHANEL, Loews Corp., Qatar Investment Authority, Coatue, Veritas and Standard Industries. Recent <a href=\"https:\/\/www.commercialsearch.com\/news\/soloviev-group-secures-tenants-at-nyc-tower\/\">additions to the tower&#8217;s roster<\/a> comprise The U.S. Soccer Federation, Hess Group, Beaconlight Capital and Platinum Equity, as well as Mousse Partners, Tikehau Capital, Jain Capital and PointState Capital.<\/p>\n\n\n\n<p>The skyscraper is also home to private equity investment firm HBeyond, which signed a record-setting lease at the property in April. The tenant agreed to pay $327.5 per square feet on average for the 5,063-square-foot space, marking one of the highest recorded rates in the New York City commercial sector.<\/p>\n\n\n\n<p>The tower is across from The Plaza, one block south of Central Park, and close to the subway station on 57th Street.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-recent-refinancing-deals-in-manhattan\">Recent refinancing deals in Manhattan<\/h2>\n\n\n\n<p>Recent noteworthy refinancing deals in Manhattan include Sage Realty Corp.&#8217;s <a href=\"https:\/\/www.commercialsearch.com\/news\/exclusive-sage-realty-secures-160m-manhattan-office-refi\/\">$160 million loan for 437 Madison Ave.<\/a> On that same list is SL Green Realty Corp.&#8217;s $1.7 billion <a href=\"https:\/\/www.commercialsearch.com\/news\/sl-green-jv-eyes-1-7b-refi-for-manhattan-building\/\">refinancing package for One Madison Ave.<\/a>, its 1.3 million-square-foot office tower in Manhattan\u2019s Gramercy Park, in March. The same month, Global Holdings Management Group Inc. received a $450 million CMBS <a href=\"https:\/\/www.commercialsearch.com\/news\/global-holdings-to-secure-450m-for-manhattan-office-tower\/\">loan for Nomad Tower<\/a> from Wells Fargo Bank.<\/p>\n\n\n\n<p>As of March, Manhattan&#8217;s average office listing rates clocked in at $69.80 per square foot, up 1.1 percent year-over-year and more than double the national figure of $32.80, according to a <a href=\"https:\/\/www.commercialsearch.com\/news\/office-construction-lags-coworking-gains-ground\/\">recent Yardi Matrix report<\/a>. Meanwhile, the borough&#8217;s vacancy rate fell 340 basis points over the year to 13.1 percent, ranking second nationwide after Miami&#8217;s 12.5 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>After stabilization, this 50-story property is expected to achieve a $3.9 billion market value.<\/p>\n","protected":false},"author":3619,"featured_media":1004798020,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,1600,21742,10,21747],"tags":[33250,33437,36182,52589],"class_list":["post-1004798017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-new-york","category-latest","category-northeast","category-office","tag-bank-of-america","tag-jpmorgan-chase-bank","tag-skidmore-owings-and-merrill","tag-soloviev-group"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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