Hedge fund shatters Manhattan office rent record at Related’s 625 Madison
How does Related Companies follow up securing an anchor tenant for its prominent office development? By breaking the local rent record weeks later. Hedge fund Castle Hook Partners signed a lease for the 53,000-square-foot penthouse at 625 Madison Avenue in Midtown Manhattan, the Financial Times reported. The exact rent wasn’t disclosed, but it ranges from $350 to $400 per square foot, easily surpassing the $327.50 per square foot record set at Stefan Soloviev’s 9 West 57th Street earlier this year. The hedge fund is expected to pay up to $21.2 million in rent annually for its space at 625 Madison, […]
This article originally appeared on The Real Deal. Click here to read the full story.
Categories
Recent Posts
Choosing Creative Drone Angles to Highlight Backyard
Staging
SMEG Kitchen Trends Report: White Minimalism Is Out,
Micro-Hubs Are In
Brooklyn’s luxury contracts notch slow start to
October
Renovated townhouse sets Clinton Hill record with $9.4M
sale
Manhattan’s luxury contracts begin October with a
bang
The Best Time of Day for Real Estate Photos: Scheduling Your
Drone Shoot
What Is a Neoclassical House Style? Key Characteristics and
Design Elements
How to Increase the Resale Value of a Tudor-Style
House
What It Really Costs to Live in Russell Wilson’s
Neighborhood
