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New York & Tri-State  + Midtown New York  + Office  | 

Partnership Plans Mixed-Use Tower Along Midtown’s Billionaires’ Row

A partnership between Alchemy-ABR Investment Partners and Cain International has completed the acquisition of 125 W. 57thSt. on Midtown’s Billionaire’s Row in a transaction with Calvary Baptist Church. 

The partnership will develop a 26-story, 420-foot-tall mixed-use tower totaling approximately 260,000 square feet. It will include ground-floor retail and approximately 185,000 square feet of Class A office space. 

Upon completion of the $330-million project, which is expected in 2024, Calvary Baptist Church will separately own and occupy the base portion of the building.

“We are optimistic about the strong demand for best-in-class office projects in major markets including New York City, and remain firmly rooted in our belief that the return to the office is a crucial part of the post-pandemic economy,“ said Eric Poretsky, head of U.S. equity at Cain International. 

Cain will provide the majority of the project’s equity, while Alchemy-ABR will oversee development.  


Inside The Story

Cain InternationalAlchemy

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).