Cain and Alchemy-ABR Investment Partners have secured a $321 million refinancing for 125 W. 57th St., a newly delivered Class A office tower on Billionaires’ Row in Manhattan’s Plaza District. The capital stack is anchored by JPMorgan Chase as senior lender, with Hudson Bay Capital providing mezzanine financing, underscoring institutional appetite for prime office product in this corridor.
The Plaza District tower, described as newly delivered and Class A, is positioned along Billionaires’ Row, one of Manhattan’s most high-profile stretches. While financial terms beyond total loan proceeds were not disclosed, the combination of senior and mezzanine financing indicates a structured approach to recapitalizing the asset soon after completion.
This refinancing extends the relationship between Cain and JPMorgan Chase, which also served as senior lender on Cain’s $4.3 billion construction financing for One Beverly Hills, described as the largest such financing in decades. The track record highlighted in the announcement also references Cain’s delivery of 830 Brickell in Miami, a fully leased Class A office tower with a tenant roster that includes Citadel, Microsoft, Kirkland & Ellis, Marsh, Thoma Bravo and Sidley Austin.
Commenting on the new Plaza District refinancing, Jonathan Goldstein, CEO and co-founder of Cain, emphasized the role of asset quality in attracting capital and tenants. He noted that location, design and execution distinguish exceptional properties from more generic offerings and stated that major cities continue to reward that differentiation. He cited both 830 Brickell in Miami and 125 W. 57th St. as examples, adding that backing from leading financial institutions reflects the depth of demand for assets of this caliber.
Walker & Dunlop Capital Markets Institutional Advisory served as exclusive advisor to Cain and Alchemy-ABR Investment Partners in arranging the refinancing. The Walker & Dunlop team of Adam Schwartz, Aaron Appel, Jonathan Schwartz, Keith Kurland, Sean Reimer, Dustin Stolly and Sean Bastian led the assignment on behalf of the sponsorship, coordinating between the borrowers and the senior and mezzanine lenders.
The transaction highlights continued financing activity for newly delivered, high-end office towers in marquee urban locations, even as broader office markets remain under pressure. By securing a sizable refinancing package for 125 W. 57th St. with both senior and mezzanine tranches, the sponsorship reinforces the role of well-located, Class A assets in attracting capital in today’s environment.
