Castle Hook Partners Leased 625 Madison Avenue Penthouse
The firm secured the top two floors of the 53-story Midtown tower in a new 15-year lease agreement.
Updated on Sept. 28, 2026 in Commercial
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Castle Hook Partners has finalized a long-term lease for the 52nd and 53rd floors at 625 Madison Avenue. This move involves the firm relocating its current headquarters from 767 Fifth Avenue.
Why it matters
The deal signals continued high-end leasing activity at the 53-story development, joining other major tenants like General Atlantic and Veritas Capital. It reflects the ongoing transformation of the property as new occupants finalize their office footprints in the building.
The lease covers the penthouse levels of the 53-story tower, joining previous commitments of 152,000 square feet by General Atlantic and 92,743 square feet by Veritas Capital. Asking rents for these upper floors reach $400 per square foot.
The players
Related Companies
A prominent real estate developer known for large-scale urban projects and high-profile commercial towers.
Castle Hook Partners
An investment firm currently headquartered at 767 Fifth Avenue.
General Atlantic
A global growth equity firm that recently committed to 152,000 square feet at 625 Madison Avenue.
Veritas Capital
A private equity investment firm that secured 92,743 square feet at the development.
The details
The agreement includes a 15-year primary term with an additional 10-year renewal option, finalized in mid-September. Related Companies, the developer of the tower, signed the contract with Castle Hook. The building continues to attract high-profile tenants, with reports noting that Polo Bar is currently in talks to relocate to the tower.
Timeline
Mid-September 2026: The lease was officially signed.
September 28, 2026: A memorandum of lease was filed in city records.
The Home Front
This move marks another significant shift in the Manhattan commercial real estate landscape at the 625 Madison Avenue development. It follows the precedent of major financial and growth equity firms centralizing operations within this specific high-end Midtown tower.
Local residents and professionals should monitor the Midtown business district for shifts in traffic patterns as major firms finalize these relocations. Consider tracking local commercial real estate news if you manage or own property nearby, as anchor tenant activity often influences surrounding retail and service amenities.
The takeaway
The transformation of 625 Madison Avenue remains a key indicator of high-end office demand in the city. Keep an eye on public filings and official announcements for updates on potential new restaurant or retail additions, such as the rumored relocation of the Polo Bar.
Further reading
Explore more leasing trends in the Commercial section.
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