Soloviev Group and Bank of America Announce $1.8 Billion Refinance of 9 West 57th Street, The World's Premier Office Towers
The deal includes hedging that lowered borrowing costs and follows major upgrades as the 50-story tower is expected to reach a $3.9 billion valuation.
- On Thursday, Soloviev Group and lead lender Bank of America announced the successful $1.8 billion refinancing of 9 West 57th Street, the flagship tower in New York City.
- The 50-story, 1.7 million square foot tower is expected to achieve a $3.9 billion market valuation upon stabilization, hosting high-profile tenants including Apollo Global Management and CHANEL.
- Chairman Stefan Soloviev secured a 4.97% interest rate through strategic financing, while the property introduced a 20,000 square foot amenity floor featuring Central Park views, modern conferencing, and executive dining.
- "This refinancing is a clear validation of the strength," Soloviev said, highlighting collaborative success with Bank of America, Wells Fargo, and Citibank as lead and secondary lenders.
- Recently announced was a 10-year lease averaging $340.00 per rentable square foot, representing the highest rate ever recorded in New York City's commercial marketplace.
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The Berkshire Eagle
Soloviev Group and Bank of America Announce $1.8 Billion Refinance of 9 West 57th Street, The World's Premier Office Towers
Soloviev's strategic financing execution secured an interest rate of 4.97%, further enhancing the Class A property's long-term performance
Soloviev Group and Bank of America Announce $1.8 Billion Refinance of 9 West 57th Street, The World's Pre
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 So…
Soloviev Group Refinances 9 W. 57th for $1.8B
Soloviev Group and lead lender Bank of America announced the $1.8-billion refinancing of 9 W. 57th St., the trophy Midtown office tower that reportedly set a new ceiling for rents. The interest-only, fixed-rate commercial mortgage loan matures in June 2031, according to S&P Global. The transaction reflects the Class A building’s exceptional quality, strong tenant demand and continued outperformance at the top of the market, according to Soloviev…
Soloviev To Pocket $526M In 9 W. 57th St. Refi
Sheldon Solow famously kept occupancy low for decades at 9 W. 57th St., preferring exclusivity over cash flow at the office tower overlooking Central Park. His son, Stefan Soloviev, took a different approach after inheriting the family business in 2020. He spent $53M renovating the building, pushed occupancy above 91% and is now poised to cash out in a major way. Soloviev is set to pocket more than $500M through a refinancing of the Billionaires…
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