Witkoff and Access Real Estate close on $525 million refinancing for One High Line

Manhattan, NY Witkoff, a privately held real estate investment and development firm, and Access Real Estate, a U.S.-based investment group, have completed the closing of a $525 million refinancing for One High Line, the mixed-use development occupying a full city block in the West Chelsea neighborhood. The refinancing was provided by institutional lenders, including Ares Management Corp. and JPMorgan Chase & Co.

The transaction underscores the performance of One High Line as a premier residential offering in the city. The property is also home to the newly opened Faena New York, marking the brand’s first location in New York City. Since launch, the project has closed more than $1.1 billion in condominium sales, reflecting sustained demand and strong sales velocity.

“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.”

Designed by Bjarke Ingels Group, One High Line comprises two sculptural travertine towers overlooking the Hudson River. The 36-story West Tower features interiors by Gabellini Sheppard, while the 26-story East Tower interiors were designed by Gilles & Boissier. The development includes 236 residences, each offering unobstructed views of the Hudson River and the New York City skyline, adjacent to High Line Park.

“This deal reinforces Access Real Estate’s strategy of deploying long-term capital into highly differentiated assets and marks a significant milestone in bringing the Faena experience to Manhattan,” said Jonah Sonnenborn, senior managing director of Access Industries and head of Access Real Estate. “The strong sales at One High Line underscore the demand for hospitality-oriented residential living and demonstrates our disciplined track record of identifying and executing on high-quality investments.”

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.

“Securing a second round of financing for this project highlights both the property’s exceptional appeal and the strength of our sponsorship team,” said Aaron Appel, senior managing director at Walker & Dunlop. “We’re seeing continued momentum in luxury developments across New York, and this property stands out for its premium location, superior quality, five-star hotel, and unparalleled amenity package.”

Residents have access to 18,000 s/f of private amenities focused on wellness, recreation, and social connection, including a 75-ft. lap pool with cabanas, a state-of-the-art fitness center with spa facilities, a glass-enclosed double-height bridge lounge, golf simulator, virtual gaming studio, and private dining spaces with a catering kitchen.

The opening of the 120-key Faena Hotel New York fully activates the property, bringing the brand’s cultural cache to the building and surrounding neighborhood. One High Line residents receive privileged access to Faena’s private members club, spa, dining, nightlife, and in-residence hotel services.