HarbourVest Will Open First NYC Office at 9 West 57th
Why this matters
Office continues to trade in two distinct markets: trophy assets in walkable submarkets that are leasing at or near record rents, and commodity Class B and C buildings where the basis is still resetting. Underwriting on the latter has moved toward replacement-cost-minus, with credit underwriting now leaning on tenant covenant and remaining lease term rather than mark-to-market expectations. New York continues to bifurcate sharply: trophy office leasing at record rents, commodity Class B in conversion discussions or court-supervised processes. Rent-stabilized multifamily remains supply-constrained and tightly held. For LP-positioned capital, the read-through is that the bifurcation is now a structural feature of the sector, not a cycle to wait out.
Editorial analysis · AI-assisted
JLL represented global private markets investment firm HarbourVest Partners in securing its first New York City office at Soloviev Group’s 9 W.57th St. The 10-year lease is for 19,752 square feet on a portion of…
External link. Real Estate Trail does not republish source content.
Related coverage — New York · Office
Rialto, Hines Refis 295 Fifth With $229M Loan
A joint venture consisting of PGIM , Tribeca Investment Group and Meadow Partners has landed a $228.9 million loan to refinance a newly-renovated 19-story office tower in Manhattan’s Midtown South neighborhood. Rialto…
Corcoran SRG Residential expands Long Island footprint
Corcoran SRG Residential has opened a new office in Merrick, New York, expanding its presence across Nassau and western Suffolk counties. The 2,600-square-foot office at 196 Merrick Road will serve as the brokerage…
Landmark Textile Building Refinanced for $229M
Walker & Dunlop, Inc. arranged $228.9 million in financing to refinance 295 Fifth Ave., a newly redeveloped, 19-story Class A office tower in Manhattan’s Midtown South submarket. Better known as the Textile Buil…
United Talent Agency Consolidates to 101K SF at ESRT’s Empire State Building
Los Angeles-based United Talent Agency (UTA), known for its high-profile clients, has aptly selected New York City’s most famous office building for its new East Coast headquarters. UTA leased 100,948 square feet at t…
Axonic Capital Receives $72M Loan for Refinancing of Midtown Manhattan Office Building
NEW YORK CITY — Investment management firm Axonic Capital has arranged a $72 million senior loan for the refinancing of the leasehold interest of 430 Park Avenue, a 19-story office building in Midtown Manhattan. The f…
Rosen Law Firm Encourages BlackRock, Inc. Mutual Fund Investors to Inquire About Securities Class Action Investigation
NEW YORK, July 20, 2026 /PRNewswire/ -- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of investors in BlackRock, Inc. mutual funds, resulti…