Ladder Capital Provides $29,500,000 Bridge Loan For MJ Orbach Associates Office In Manhattan
260 West 39th Street
$29,500,000
Building Size
—
Asset Type
Office
Closing
Mar 23, 2026
About this deal
AI
The property asset involved in this transaction is located at 260 West 39th Street in the Manhattan market. It is classified as an office asset and has an associated loan amount of $29,500,000 that is categorized as a bridge loan.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $29,500,000
- Lender: Ladder Capital
- Loan Originators: Marc Waldman, Matthew Baron & Jack Walsh
- Landlord: MJ Orbach Associates
- Brokers: Morris Betesh & Jack McPhail - Arrow Real Estate Advisors
The deal involves the loan origination team consisting of Marc Waldman, Matthew Baron, and Jack Walsh, who played key roles in securing financing for the landlord, MJ Orbach Associates. The brokerage representation was managed by Morris Betesh and Jack McPhail from Arrow Real Estate Advisors, indicating a strategic partnership in this transaction.
On the Map
$29,500,000
Office
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Players
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.54%
Cash-on-Cash
-0.15%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93