Josh Zengen Josh Zegen, co-founder and managing principal of Madison Realty Capital

NEW YORK CITY—Highline Development Group has secured $72 million in first mortgage loan financing from Madison Realty Capital for its nearly completed luxury condominium project in Chelsea.

Currently in the final stages of interior construction, Highline’s 550 W. 29th St. development will consist of 19 luxury residential condominium units, along with 5,022 square feet of at grade premium retail/gallery space. Madison Realty Capital announced the closing of the financing transaction. Construction on the 12-story building along Chelsea’s High Line is expected to be completed by mid-year 2018.

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