The transaction involves a condo situated at 151 West 42nd Street in Midtown Manhattan. The property features a total square footage of 55,000 and has an asking rent of $140 per square foot. The lease is structured as a 15-year agreement, allowing for long-term occupancy in this prime market location.

Summary of transaction details:

• Property Type: Condo
• Transaction Amount: $140/ft
• Lease Term: 15-year lease
• Size: 55,000 SF
• Landlord: Steven Roth - Vornado
• Tenant: Vivek Ganapathy Ramaswamy - Roivant Sciences
• Brokers: Josh Friedman & Neil Goldmacher - Newmark

Roivant Sciences, led by former Republican presidential candidate Vivek Ganapathy Ramaswamy, is relocating into the newly leased duplex penthouse at Penn 1, which is part of a building that has undergone significant upgrades, backed by a $450 million investment from Vornado Realty Trust. The deal was facilitated by brokers Josh Friedman and Neil Goldmacher from Newmark, representing the interests of the landlord.