J.P. Morgan Provides $200M for Related’s 520 West 30th Street

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Related Companies landed a $200 million loan from J.P. Morgan Chase to pave the way for its 28-story multifamily development at 520 West 30th Street, a source familiar with the transaction confirmed.

SEE ALSO: J.P. Morgan Lends $18M on Olshan Properties’ Hudson Yards Resi Building

The total financing was split into three parcels: a $24.6 million note, a $125.8 million note and a $49.5 million note.

The development site, which is located between 10th and 11th Avenues at the base of Hudson Yards, sits just near the High Line and the Abington House.

When the project is completed, the tower will stand at 354 feet and house 174 apartments, YIMBY previously reported.

A representative for the bank declined to comment. A representative for Related did not respond to requests for comment.