NEW JERSEY—NorthMarq’s New Jersey regional office has closed on an $11.4 million loan for the acquisition of the Orion, a 42,774-sq.-ft. retail condominium as part of the newly constructed 58-story residential high rise.

Working exclusively on behalf of a major REIT client, Gregory Nalbandian, senior vice president and managing director, secured aggressive five-year, interest-only financing through a regional bank.

Situated on West 42nd Street between Eighth and Ninth Avenues, the property is home to Icon Parking Garage, Well Green Market and Starbucks, among others.