HarbourVest Partners Signs 10-Year Lease For 19,752 SF Office At 9 West 57th Street
9 West 57th Street
Building Size
19,752 SF
Asset Type
Office
Closing
Jul 20, 2026
AI
The property asset involved in this transaction is located at 9 West 57th Street, in the Midtown Manhattan market. This office space encompasses a total of 19,752 square feet and is situated on part of the 49th floor. HarbourVest Partners has secured this location to establish their first office in New York City.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not disclosed
- Address: 9 West 57th Street
- Market: Midtown Manhattan
- Asset Size: 19,752 square feet
- Lease Terms: 10-year lease
- Landlord: Michael Hershman - Soloviev Group
- Tenant: John Toomey - HarbourVest Partners
- Landlord's Representative: Alexander Chudnoff & Ava Loughlin - JLL
- Tenant's Representative: Howard Fiddle, John Maher, Gregg Rothkin, Tara Rhodes & Alex Leopold - CBRE
This deal involved significant representation from both sides, with Alexander Chudnoff and Ava Loughlin from JLL representing the landlord, while the tenant was represented by a team from CBRE, including Howard Fiddle, John Maher, Gregg Rothkin, Tara Rhodes, and Alex Leopold. The collaboration between these recognized firms facilitated orchestrating the lease agreement.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93