Cain International
GDV
$516M
Location
New York City, N.Y.
Asset Class
Office
Size
257,000 sq. ft.
In June 2021, Cain in partnership with Alchemy-ABR Investment Partners, completed the acquisition of 125 West 57th Street on Midtown’s Billionaires' Row in a transaction with Calvary Baptist Church.
The partnership will develop a 30-storey, 440-foot-tall building totalling approximately 257,000 sq. ft., which will include ground floor retail and a tower delivering approximately 185,000 sq. ft. of Class A office space, the majority of which will have Central Park views. Upon completion, Calvary Baptist Church will separately own and occupy the base portion of the building.
Designed by FX Collaborative, the building will offer tenants modern features, state of the art technology, and efficiently sized floorplates that are rarely available in the existing office product in the Plaza District, including:
- Floorplates averaging 10,000 sq. ft.
- 14’6” slab to slab ceiling heights with floor-to-ceiling glass
- Over 90% of the office space offer direct north facing Central Park views
- Private terraces overlooking Central Park and the Plaza District on select floors
- Ability to create private elevator access to each floor
- Modern building infrastructure, HVAC, environmental and security systems designed to exceed today’s standards
- Dedicated full floor of amenity space with hospitality designed lounge and meeting spaces, board room, and over 4,000 sq. ft. of outdoor common spaces
Cain will be providing the majority of the equity for the project and will be working closely with Alchemy-ABR Investment Partners who will oversee the project development.
