Manhattan’s office market reached a major milestone as hedge fund Castle Hook Partners signed a lease for a 53,000-square-foot penthouse at Related Companies’ planned commercial tower at 625 Madison Avenue. Expected to pay up to $21.2 million annually, the transaction equates to a rate between $350 and $400 per square foot ($3,767 to $4,305 per square meter). This landmark deal shatters the previous market record of $327.50 per square foot set ...