JLL Secures $20.7M Acquisition Loan for Mixed-Use Portfolio in Chelsea

NEW YORK CITY — JLL has secured a $20.7 million acquisition loan for the High Line Portfolio, a four-building, mixed-use portfolio in the Chelsea neighborhood of Manhattan. Jonathan Schwartz, Aaron Appel, Brian Buglione and Patrick Cotter of JLL arranged the financing for Morgenstern Capital through an undisclosed lender. Terms of the loan were not disclosed. The portfolio includes three contiguous mixed-use buildings at 505 W. 22nd St., 203 and 205 10th Ave. as well as one retail building at 207 10th Ave. All totaled, the properties include 26 residential and four retail units.