JLL Capital Markets arranges $129M sale and $71M financing of Henry Hall, a Hudson Yards apartment tower

NEW YORK, March 3, 2026 – JLL Capital Markets announced today that it has arranged the $129 million sale of Henry Hall, a 33-story, 225-unit luxury multifamily property located at 515 West 38th St. in Manhattan’s Hudson Yards neighborhood.

JLL represented the seller, a joint venture of Shorenstein Investment Advisers and Dreamscape Companies, and arranged $71 million in acquisition financing for the buyer, Amstar Group LLC, through U.S. Bank.

Delivered in 2017 and designed by renowned interior designer Ken Fulk, Henry Hall offers a boutique, hotel-inspired living experience in one of Manhattan’s most dynamic residential and employment hubs. The property includes 225 residences, comprising studio, one-bedroom and two-bedroom units, along with approximately 12,500 square feet of ground-floor retail.

Residential amenities include a double-height lobby, landscaped terrace with Hudson River and Empire State Building views, a fully equipped fitness center and a music-inspired “Jam Room” with professional recording equipment. The property benefits from a 421-a (1-15) real estate tax abatement through 2039.

JLL marketed the property on behalf of the seller and procured the buyer. The JLL Investment Sales Advisory team was led by Senior Managing Directors Jeffrey Julien, Rob Hinckley and Steven Binswanger, Managing Director Steven Rutman and Director Devon Warren.

The JLL Capital Markets Debt Advisory team representing the buyer was led by Managing Director Geoff Goldstein and Director Christopher Pratt.

"Henry Hall truly stands out in the market," said Hinckley. "The combination of its unique character, loyal resident community and prime Hudson Yards location drove strong investor interest. Multiple parties recognized the asset's quality and the neighborhood's continued growth trajectory. We're thrilled to have successfully closed this transaction for both the seller and buyer."

 “There is significant liquidity in the debt capital markets today, particularly for incredible assets like Henry Hall,” added Goldstein. “U.S. Bank recognized the strengths of Henry Hall and Amstar as an owner and delivered a competitive financing solution.”

Hudson Yards has transformed into Manhattan’s premier West Side employment hub, with approximately 19 million square feet of newly delivered Class A office space attracting major tenants across finance, technology and consulting sectors. Henry Hall’s location within walking distance of this employment base continues to support strong residential demand.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients, including investment sales and advisory, debt advisory, M&A and corporate finance, loan sales, equity & fund placement, net lease, derivative advisory and energy & infrastructure advisory. JLL Capital Markets has more than 3,000 specialists worldwide with offices in nearly 50 countries.

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