Juda Chetrit's Chetrit Organization secured a $55 million loan from Maxim Capital Group to recapitalize 1384 Broadway, the 204,034-square-foot office tower at Broadway and West 38th Street in Midtown Manhattan. The building is 80 percent occupied.
The capital will fund lobby renovations, upgraded amenities, and lease-up efforts. Iron Hound Management negotiated the deal.
This recap comes nearly a year after a previous $88 million CMBS loan, securitized in the CD 2017-CD3 conduit, entered special servicing in December 2025. That loan remained current as Chetrit sought a discounted payoff. David Putro, head of commercial real estate analytics at Morningstar Credit Analytics, confirmed the payoff has now been completed.