Castle Hook Pays Record $400 Per Sq Ft for New York Office

Business18 days ago

A midtown Manhattan skyscraper has leased its most exclusive floors to a hedge fund for $21.2 million per year. The agreement secures 53,000 square feet of penthouse space across the top two levels of a new tower on Madison Avenue.

The lease by the fund, identified as Castle Hook, establishes a new price peak of $350 to $400 per square foot for New York office rentals. This rate surpasses the previous rental record of $327.5 per square foot established earlier this year.

Mapped to your portfolio

Possible scenarios

40%Manhattan Rally Broadens+0.1%
30%Bifurcated Recovery Persists+0.1%
20%Financing Caps Upside-0.1%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

Looking for more context or analysis?

Tilt chat provides reliable, tailored insights, alerts, and automations.

Castle Hook Pays Record $400 Per Sq Ft for New York Office

In this story

Castle Hook New York City

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

40%Manhattan Rally Broadens+0.1%
30%Bifurcated Recovery Persists+0.1%
20%Financing Caps Upside-0.1%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.