Witkoff and Access Real Estate Refinance One High Line With $525M Loan

Key Points

• Witkoff and Access Real Estate closed a $525 million refinancing for One High Line
• The West Chelsea project has surpassed $1.1 billion in condo sales
• Financing was provided by Ares Management and JPMorgan Chase

Capital continues to reward proven luxury products in Manhattan, as Witkoff and Access Real Estate closed a $525 million refinancing for One High Line, their mixed-use development spanning a full city block in West Chelsea. The deal underscores lender confidence in ultra luxury residential assets that combine strong sales velocity, prime locations, and hospitality-driven branding, even as financing remains selective across the broader market.

A Strong Refinance in a Tight Capital Market

The refinancing was backed by institutional lenders Ares Management and JPMorgan Chase, highlighting the project’s performance and sponsorship strength. Since its launch, One High Line has recorded more than $1.1 billion in condominium sales, placing it among the most successful residential developments in New York City in recent years. The property also includes Faena New York, the brand’s first New York City hotel, further differentiating the asset and supporting long-term value.

A Defining Project for West Chelsea

Alex Witkoff, CEO of Witkoff, said the refinancing reflects the project’s long-term strength and its role in shaping the next chapter of luxury living along the High Line corridor. Developed adjacent to High Line Park, One High Line comprises 236 residences across two towers overlooking the Hudson River and Manhattan skyline. Pricing for remaining homes starts around $2.82 million, targeting end users seeking full-service living rather than short-term investors.

Design and Amenities Drive Demand

The project was designed by Bjarke Ingels Group, with interiors by Gabellini Sheppard and Gilles & Boissier. Residents have access to 18,000 square feet of private amenities, including a lap pool, spa and wellness facilities, fitness center, golf simulator, gaming studio, private dining spaces, and a glass-enclosed bridge lounge connecting the towers. The opening of the Faena New York fully activates the site, with residents receiving privileged access to Faena’s spa, dining, nightlife, and in-residence services.

Hospitality Meets Residential Capital

Jonah Sonnenborn, head of Access Real Estate, said the transaction aligns with the firm’s strategy of deploying long-term capital into differentiated, hospitality-oriented residential assets. The financing was arranged by Walker & Dunlop, reflecting continued institutional appetite for best-in-class luxury product in core New York submarkets.

Bottom Line

The $525 million refinancing at One High Line shows that capital remains available for top-tier luxury developments with proven sales, iconic branding, and prime locations. For West Chelsea, it reinforces the High Line corridor’s status as one of Manhattan’s most resilient and lender-favored luxury residential markets.