Cain and Alchemy-ABR Investment Partners Secure $321 Million JPMorgan-Chase Led Refinancing for Billionaires Row Office Tower
Transaction following JPMorgan Chase’s senior lending role on Cain’s One Beverly Hills construction financing
NEW YORK, May 21, 2026 – Cain and Alchemy-ABR Investment Partners have secured a $321 million refinancing for 125 West 57th Street, a newly delivered Class A office tower on Billionaires’ Row in Manhattan’s Plaza District.
The financing was provided by JPMorgan Chase as senior lender and Hudson Bay Capital as mezzanine lender. The financing was arranged by Walker & Dunlop.
The transaction follows JPMorgan Chase’s role as senior lender on Cain’s $4.3 billion One Beverly Hills construction financing, the largest of its kind in decades, and Cain’s delivery of 830 Brickell in Miami, a fully let Class A office tower with tenants including Citadel, Microsoft, Kirkland & Ellis, Marsh, Thoma Bravo and Sidley Austin.
Rising 30 storeys with direct Central Park views, 125 West 57th Street is the first ground-up Class A office tower delivered in Midtown’s Plaza District in more than five years. The building has secured tenants including Eldridge Industries, Jadian Capital, Kingdon Capital Management and AdaptHealth. Ten Five Hospitality, known for its Mother Wolf restaurants in Miami, Las Vegas and Los Angeles, is also slated to open a new concept on the ground floor.
The building has been designed with modern infrastructure, tenant amenities, sustainability features and hospitality-led design elements, and is targeting LEED Gold certification.
“Location, design and execution are what separate the exceptional from the merely available, and great cities continue to reward that difference,” said Jonathan Goldstein, CEO and co-founder of Cain. “We saw it at 830 Brickell in Miami, and we see it again here. This refinancing, backed by leading financial institutions, speaks to the depth of demand for assets of this calibre.”
“In a market where much of the ‘new’ inventory consists of repositioned office stock, 125 West 57th Street offers tenants the rare opportunity to occupy space that is genuinely new, with infrastructure and design elements purpose-built to attract and retain talent,” said Kenneth Horn, co-founder and partner at Alchemy-ABR Investment Partners. “We appreciate Walker & Dunlop’s partnership and execution in securing financing that positions the property for continued lease-up success in a highly competitive Manhattan office market.”
Walker & Dunlop Capital Markets Institutional Advisory acted as exclusive advisor to Alchemy-ABR Investment Partners and Cain in arranging the financing. Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Sean Reimer, Dustin Stolly and Sean Bastian led the transaction.
“The Manhattan office market is entering a period defined by scarcity at the top end,” said Adam Schwartz, senior managing director of Capital Markets and co-head of Institutional Advisory at Walker & Dunlop. “Only 1.6 million square feet of new office product is projected to deliver across the city over the next five years, while more than 29 million square feet of older office inventory has already been converted or is in the process of being converted to residential use. Against this backdrop, 125 West 57th Street stands out as one of the only true Class A office opportunities in Midtown.”