HarbourVest Partners, the Boston-based global private markets investment firm, is planting its flag in Manhattan with a first New York office at 9 West 57th Street in Midtown. The firm has signed on for space on the building's upper floors in a high-profile tower that has been commanding steep rents this year. The move gives HarbourVest a dedicated Manhattan base for client meetings and recruiting and also signals fresh demand at the top end of the office market.
As detailed by CoStar News, HarbourVest inked a 10-year lease for roughly 19,752 square feet on part of the building’s 49th floor. JLL’s Alexander Chudnoff and Ava Loughlin represented the tenant, while a CBRE team represented the Soloviev Group, the building’s owner. “Today’s leading financial firms are increasingly focused on attracting and retaining top talent, and the office they choose has become a critical part of that strategy,” Chudnoff said. The asking rent for HarbourVest’s space was not disclosed.
Trophy Tower With Record Rents
CoStar News reported that the Solow Building recently commanded what it described as the highest per-square-foot office rent ever recorded in New York City, a reminder that the tower's top floors remain in rarefied demand. a boutique, high-floor deal previously covered by Hoodline averaged about $327.50 per rentable square foot, illustrating how ownership is pushing premium rates for prized views and amenities.
What This Signals For Midtown
Colliers data cited by Commercial Observer put the average asking rent in Midtown at about $98.98 per square foot in the first half of 2026. That gap between the mid-market and trophy floors is turning the very top of the market into its own microclimate. Brokers say scarcity at top towers is encouraging landlords to layer on upgraded amenity packages and to price Central Park-facing floors as a recruiting and client-service asset. That dynamic helps explain why an asset manager headquartered in Boston would bother opening a Manhattan office in the first place.
About HarbourVest
HarbourVest's newsroom notes that the firm manages more than $146 billion in assets under management as of June 30, 2025, and operates a global private markets platform from its Boston headquarters. The company has expanded teams and products in recent years, and the new New York office gives its private markets specialists a local base for meetings and deal work.
What Comes Next
Soloviev Group via PR Newswire said it has been upgrading the Solow Building with new lobby finishes and a roughly 20,000-square-foot tenant amenity floor, and it has touted a renewed roster of institutional tenants that helped justify a recent refinancing. The owner said the refinancing validated the property's top-tier performance.
