Manhattan Bridge Capital, Inc

Manhattan Bridge Capital, Inc. is a New York-based real estate finance company that originates, services, and manages short-term first-mortgage loans secured by residential and commercial properties. It focuses on so-called hard-money lending to real estate investors, primarily in the New York metropolitan area and Florida, with a business model centered on capital preservation and dividend income.

58,8 %

59,0 %

−10,6 %

— Manhattan Bridge Capital, Inc
%
Secured first-mortgage lending80% Loans secured by first liens on residential and commercial real estate.
Origination fees20% Upfront fees earned when new loans are originated and funded.

The company lends mainly to real estate investors who need fast, non-bank financing for acquisitions, renovations,...

  • Real estate investorsprimary

    Borrowers using secured loans to acquire, renovate, or develop properties quickly.

  • Commercial property sponsorsprimary

    Sponsors seeking short-term financing for income-producing or transitional assets.

  • Residential property investorssecondary

    Investors financing residential acquisitions and improvement projects.

  • Repeat borrowers and referralsprimary

    Existing customers and their networks that generate a large share of new transactions.

The company’s lending activity is concentrated in the New York metropolitan area, including New Jersey and Connecticut,...

  • •New York metropolitan area is the core lending market
  • •New Jersey and Connecticut extend the Northeast footprint
  • •Florida is a secondary lending market
  • •Geographic concentration supports local underwriting expertise
  • •U.S.-only business increases exposure to regional real estate cycles

Management is focused on growing the loan portfolio while preserving capital and maintaining a dividend-oriented return...

01
Selective loan originationshort-term

The company competes on underwriting quality and local market knowledge rather than scale.

02
Portfolio growth with capital preservationmedium-term

Loan growth drives earnings, but credit losses would directly impair shareholder returns and dividend capacity.

03
Funding and refinancing flexibilityshort-term

The business depends on revolving bank credit and periodic refinancing to fund new loans.

The main risks are borrower credit deterioration, collateral value declines, and concentration in a few U.S...

high

Borrower credit and non-collectability risk

Loans are secured, but repayment still depends on borrower performance and collateral realization.

Scope
Commercial and residential real estate borrowers
Materiality
high
high

Collateral value decline

The lending model relies on first-mortgage collateral; lower property values reduce protection.

Scope
New York metropolitan area and Florida real estate
Materiality
high
high

Funding and refinancing risk

Loan growth requires continued access to the Webster Credit Line or replacement financing.

Scope
Bank debt and notes payable
Materiality
high
medium

Covenant and dividend restriction risk

Debt covenants can limit dividends, repurchases, and strategic flexibility.

Scope
Webster Credit Line covenants
Materiality
medium
medium

Interest-rate risk

Borrowing costs float with market rates, affecting net spread on loans.

Scope
Variable-rate credit line
Materiality
medium
Interest income recognition
Quarterly revenue can move with originations, repayments, and average loan balances
Origination fee recognition
New loan volume affects near-term revenue
Collateral and collectability estimates
Can affect impairment judgments and realized losses
REIT distribution compliance
Constrains retained capital and supports dividend policy
Debt covenant compliance
Affects financing flexibility and capital allocation

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: 28/04/2026