Shearman & Sterling represented an affiliate of Solow Realty & Development Company in connection with a new lease for the entire 36th Floor (approximately 32,300 rentable square feet) at 9 West 57th Street. 9 West 57th Street, the building with the iconic sculpture of a red numeral 9 in the front, is often referred to as the most prestigious office tower in Manhattan (and a building which fetches some of the City’s highest rents).
The tenant, D1 Capital Partners LLC, a hedge fund operator, committed to an initial term of 15 years, with a five-year renewal option.
The transaction continues to send an extremely positive message to the market about the building’s ownership, quality and leasing team, as it follows other recent transactions with long-term tenants expanding their presence in the building. These include expansions by Veritas Capital (which increased its presence in the building to approximately 28,000 rentable square feet) and the Qatar Investment Authority (which increased its presence in the building to approximately 18,000 rentable square feet).