Soloviev’s strategic financing execution secured an interest rate of 4.97%, further enhancing the Class A property’s long-term performance
NEW YORK, May 7, 2026 /PRNewswire/ — Soloviev Group, a leader and pioneer in commercial and residential development for more than five decades, together with lead lender Bank of America announce the successful $1.8 billion refinancing of its flagship tower, 9 West 57th Street, according to Chairman Stefan Soloviev.
The transaction reflects the Class A building’s exceptional quality, strong tenant demand, and continued outperformance at the top of the market. As part of the execution, Soloviev Group hedged the index, significantly reducing the effective interest rate and further enhancing 9 West 57th Street’s long-term performance. Upon stabilization, the 50-story, 1.7 million square foot tower is expected to achieve a market valuation of $3.9 billion.
Stefan Soloviev, Chairman of Soloviev Group said: “This refinancing is a clear validation of the strength of 9 West 57th Street and the collaborative success of lead lender Bank of America, and secondary leads Wells Fargo and Citibank.”
9 West 57th Street continues to set the standard for trophy assets, combining iconic architecture, sweeping Central Park views, and an unparalleled tenant experience. Stefan Soloviev recently announced a 10-year lease averaging $340.00 per rentable square foot, the highest rate ever achieved for the renowned building and what we believe to be the highest rent ever recorded in the New York City commercial marketplace.
Over the last several years, 9 West 57th Street has attracted the strongest roster of commercial tenants in New York City, most recently welcoming HBeyond, The U.S. Soccer Federation, Hess Group, Beaconlight Capital, and Platinum Equity. The property’s distinguished list of tenants also includes long-term large footprint occupiers Apollo Global Management, CHANEL, Loews Corporation, Qatar Investment Authority, Coatue, Veritas and Standard Industries. Additionally, recent additions of Mousse Partners, Davidson Kempner, Tikehau Capital, Jain Capital, PointState Capital, and Panco Operations.
The soaring skyscraper recently completed major upgrades to the lobby, elevator modernization, and building system technology. Additionally, as part of its renewed commitment to bolstering the tenant experience, 9 West 57th Street introduced new amenities including a 20,000 square foot amenity floor, offering Central Park views, modern conferencing, multi-functional meeting space, a grab and go coffee bar, executive dining, and a hospitality area.
ABOUT SOLOVIEV GROUP
Soloviev Group brings successful development across community-focused verticals such as logistics, railroads, agriculture, grain storage, prime beef production, renewable energy, commercial and residential development, hospitality, and philanthropy. For more information, visit solovievgroup.com.
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SOURCE The Soloviev Group
