NYC High Line-Area Building Floats $53 Million Bankruptcy Sale
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000A commercial loft housing art galleries and photographers’ studios in West Chelsea has filed for bankruptcy to halt foreclosure by its lender, JPMorgan Chase & Co., as it seeks to close a $53 million deal to sell the property.Mariner’s Gate LLC, the owner of a six-story building at 548 West 28th Street near Manhattan’s High Line park, sought court protection to pause a planned foreclosure sale that was scheduled for Wednesday, according to court papers. The sale was planned after the building’s owner said it was unable to restructure a senior mortgage held by the bank.