Todd Boehly’s Eldridge Industries Inks 20K-SF Lease at 125 West 57th Street

Eldridge Industries, a Miami-based asset management and insurance holding company owned by billionaire businessman Todd Boehly, has signed a roughly 20,000-square-foot lease at 125 West 57th Street on Billionaires’ Row in Midtown, sources confirmed to Commercial Observer. 

The 30-story office tower between Avenue of the Americas and Seventh Avenue is owned by Alchemy-ABR Investment Partners and Cain International. The length of the lease and the asking rent were not disclosed, but the average asking rent for office space in Midtown during the first quarter of 2026 was $81.43 per square foot, according to a report from Newmark. In fact, the average office asking rent along Billionaires’ Row can exceed $300 per square foot, according to data updated this week from search engine New York Offices.

The asking rent certainly exceeded $300 per square foot at the nearby Soloviev Group-owned 9 West 57th Street, which signed a “record-setting lease deal” in early April at $327.50 per square foot. Gonzalo Hevia Baillères, the grandson of late businessman Alberto Baillères González, signed a 10-year, 5,063-square-foot lease for space on the tower’s 50th floor.

Alchemy and Cain declined to comment, while a spokesperson for Eldridge Industries did not immediately respond to a request for comment. 

Completed in early 2026 and designed by architect FXCollaborative, 125 West 57th Street spans 173,000 square feet and offers tenants direct views of Central Park. The building also features a Gensler-designed amenity floor with a lounge, a coffee area, private phone booths, and a massive boardroom that can be transformed into an event space. There is also a 4,300-square-foot wraparound terrace. 

“There hasn’t been a new office building built in this market in decades, and we thought it’d be a good idea,” Brian Ray, managing partner and co-founder of Alchemy-ABR, previously told CO about developing an office asset on Billionaires’ Row. The street gets its name from several towering residential skyscrapers built since 2014 that feature some of the most expensive homes in the world.

Bloomberg first reported Eldridge Industries’ new lease. Other recently signed leases at 125 West 57th Street include an eight-year, 10,280-square-foot deal for real estate investment firm Jadian Capital; an eight-year, 10,290-square-foot lease for investment management firm Kingdon Capital Management; and a five-year, 10,257-square-foot lease for medical equipment company AdaptHealth. 

Amanda Schiavo can be reached at aschiavo@commercialobserver.com.