Like a gift from heaven, the shiny new church-and-office building on Billionaires’ Row that we first told you about two years ago is finally on the rise. The “boutique” tower at 125 W. 57th St. is …
‘Ferrari building’ continues leasing surge by adding private equity firm TriPost CapitalRecent NYC retail leasing scene fuels skepticism despite luxury retail leasing boom
What might be the city’s most unusual mixed-use project needed a miracle after its construction lender backed out in March 2020 just when Covid-19 was bringing the city to a standstill. But the purchase couldn’t close as scheduled after the lender’s withdrawal. It was born again when Calvary decided to giveCain will own most of the equity in the office portion of the tower while Calvary will own its floors below.
He added, “This was a very complex deal even before Covid. Our partners fulfilled everything and the Baptist church are righteous people in all the right ways.”
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