Commercial loft building across from Ava High Line (on 28th Street) foreclosed on by JP Morgan

Across from Ava High Line on 28th Street between 10th & 11th is a commercial loft building that predates many of the towers most of you are probably living in right now. The address is 548 West 28th Street, and our sister publication Bloomberg reported in December 2025 that its owner, Mariner’s Gate LLC, was delinquent on approximately $50 million in debt and had entered into bankruptcy to halt foreclosure by its lender, JPMorgan. Based on the bankruptcy case docket, it looks like that foreclosure ended up occurring in May 2026, and so John Piermont Morgan is technically your neighbor now. Welcome to the block, John.

The next step here is for JPMorgan to try to sell the property to the highest bidder, and it looks like that process has been under way for a few months now. We are going to contact Mariner’s Gate and the sales agent to see if we can figure out more about who the potential buyers are—and will keep the block updated.