JP Morgan Chase Supplies $47M Refi for Meatpacking Retail-Office Asset

MacArthur Holdings has landed a $47 million loan to refinance retail and office condominium units in Manhattan’s Meatpacking District, Commercial Observer has learned.

J.P. Morgan Chase provided the loan for a fully leased section of 415 West 13th Street consisting of 62,707 square feet that represent 68 percent of the building’s total rentable area, according to Ripco, which negotiated the financing. 

Ripco’s Adam Hakim, James Murad and Michael Winter led the deal.

The condo units covered in the loan include 1S with 11,980 square feet and 3S with 50,727 square feet. WndrHLTH Club occupies 1S, located on the north side of 13th Street between Ninth Avenue and Washington Street. The 3S portion consists of tenants Estée Lauder with 41,210 square feet, aviation supply company FTAI with 7,312 square feet, and Affirmation Arts with 7,205 square feet.

“This financing speaks to the continued strength of institutional interest in high-quality, income-producing assets located in Manhattan’s most dynamic submarkets,” Murad said in a statement. 

Officials at MacArthur Holdings did not immediately return a request for comment. J.P. Morgan declined to comment. 

Andrew Coen can be reached at acoen@commercialobserver.com