Billionaires' Row Tower Secures Major Tenant, Nears Full Occupancy

Anchorage Capital Advisors has become the latest tenant to sign a lease at 125 W. 57th St., a 265,000-square-foot boutique office tower located on Manhattan's Billionaires' Row. The deal for two full floors brings the development, by global investment management firm Cain and Alchemy-ABR Investment Partners, to nearly 75% leased less than three years after construction commenced.

This move follows other recent office leases secured by the tower, including those from Eldridge Industries, Jadian Capital, Kingdon Capital Management, and AdalptHealth. Additionally, Ten Five Hospitality has leased a ground-floor space for a restaurant, though the specific concept for this location differs from their existing Mother Wolf establishments in Miami, Las Vegas, and Los Angeles.

The redevelopment of 125 W. 57th St. also incorporates the Calvary Baptist Church, which previously occupied the site before its demolition for the new tower.

Anchorage Capital Advisors was represented in the transaction by Cushman & Wakefield's Tim Hay, Brian Hay, and Ethan Silverstein. The landlord was represented by JLL's Mitch Konsker, Kristen Morgan, Christine Colley, Kate Roush, and Dan Turkewitz.