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Castle Hook signs $375-per-SF office lease at 625 Madison Ave

The $375-per-SF deal tops a prior NYC office lease record set at $340 per SF for space at One Vanderbilt.

Reported · Written up by our desk · Commercial

Castle Hook Partners agreed to pay $375 per square foot for a two-story penthouse office lease at Related Companies' upcoming 625 Madison Ave, setting a new record for New York City’s priciest office lease, according to Bisnow citing JLL.

Bisnow reports the hedge fund is one of 11 companies that have committed to pay more than $300 per SF for Manhattan office space so far in 2026.

The outlet notes that the prior record had been $340 per SF, paid by Sentinel Capital Partners to expand its office at SL Green’s One Vanderbilt by about 7,000 square feet.

Bisnow also says that NYC’s lease pricing record previously moved in 2026, including a $320 per SF lease by Nvidia-backed Nscale on the 54th floor of One Vanderbilt in March and a $327.5 per SF lease announced by Soloviev Group for 9 W. 57th St.

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