Witkoff and Access Real Estate have closed on a $525-million refinancing for One High Line, the mixed-use development occupying a full city block in Manhattan’s West Chelsea neighborhood. The refinancing was provided by Ares Management Corp. and JPMorgan Chase & Co.
“As one of the most successful residential projects in New York, One High Line has set the pace for the
City’s luxury market,” said Alex Witkoff, CEO of Witkoff Group. “This refinancing underscores the project’s
long-term strength and affirms its role as a defining contributor to the neighborhood and to New York’s next chapter of luxury residential development.”
Walker & Dunlop Capital Markets Institutional Advisory arranged the transaction on behalf of Witkoff, Access Industries and Monroe Capital. It was led by Aaron Appel, Jonathan Schwartz, Adam Schwartz, Keith Kurland, Dustin Stolly and Sean Reimer.
Since its launch, One High Line has closed more than $1.1 billion in condominium sales. It is also home to a newly opened Faena hotel, the brand’s first location in New York City
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