Chetrit very much‘s The Chetrit Organization has secured a $55 million loan for recapitalization 1384 BroadwayThe Commercial Observer has learned.
Maxim Capital Group available loans for 80 percent of office buildings occupied on Broadway and West 38th Street in Midtown Manhattan, a source familiar with the deal told CO. The transaction includes capital for lobby renovations, facility upgrades and lease-up of the 204,034-m² tower.
Iron Hound Management recap discussion. Iron Hound, Maxim and Chetrit declined to comment.
Chetrit closed on new capital for 1384 Broadway nearly a year after an $88 million commercial mortgage-backed commercial securities loan, securitized on CD 2017-CD3 conduit deal, reaching special service in December 2025.
The loan remains current as the borrower seeks to complete the discounted payments before the end of 2026, according to the report David Sonhead of commercial real estate analytics Morningstar Credit Analytics. The payment is now complete.
Andrew Coen can reach it acoen@commercialobserver.com.