‘Nine West’ owner denies reports of selling NYC tower

The owners of 9 West 57th Street insist they have no plans to sell the iconic property, one of Manhattan’s premier office towers, despite bombshell reports claiming a deal is in the works.

“There are no plans to sell the building,” Hayden Soloviev, a son and spokesman for Soloviev Group president Stepan Soloviev, told Realty Check.

“This news should be mixed with residential sales,” speculated Hayden Soloviev. (Soloviev Group is actually selling some of its luxury rental apartment buildings).

An article in The Real Deal A wild guessing game ensued last month when it was reported that Stephen 9 is “finalizing a deal” to sell West. It cited a source as saying that high-profile real estate investor Michael Chavo was part of the buying group.

A source outside the Soloviev family told us, “If there was a group trying to buy 9 West, Shavo was not part of it.”

But Hayden told us, “No, there was never a deal. People call us all the time and ask if we’d like to sell various properties, both in New York and out West. Someone might be trying to make a name for themselves.” Used to be.

If such a deal goes through, it would be a major breakthrough for the sinking buy-and-sell market. The tower was last valued at $3.4 billion in 2016.

The skyscraper enjoys a legendary stature in Manhattan commercial real estate, so unique that it is commonly referred to as the “Nine West”. Completed in 1972 by the late developer Sheldon Solow, Stephen’s father, it is noted for its towering presence on the block between Fifth and Sixth avenues, unparalleled Central Park views, and top-tier tenants.

It was also known for bitter legal battles between Solo and former tenants such as Morgan Guaranty Trust, Avon and Arista Records after Solo alleged that they had not properly restored their spaces after moving out.

A photo of the Solow building at 9 West 57th Street.
The skyscraper has a legendary stature in Manhattan commercial real estate.
Brian Zak / NY Post

Tenants in today’s more peaceful times include Apollo Global Management, D1 Capital Partners, Chanel, and most recently Loewe’s Corp., which signed on in October for 65,000 square feet. Rents in the 1.4 million square foot tower are in the $200 per square foot range.

Hayden Soloviev also tells us that plans to open the tower’s controversial, tax-exempt art gallery to the public are on track — as we First reported in January,

“As we’ve said before, my father plans to open the gallery in the second half of 2023, when the remodeling of 9 West 57th Street is complete. The gallery will be at 9 West 57th Street,” Hayden said.

The gallery displays masterpieces by Matisse, Giacometti and Francis Bacon but they are only visible from the street. Critics have long argued that because the Family Art Foundation enjoys tax-exempt status, the gallery must be open to the public as required by IRS regulations.

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