Michael Shvo Taps Norman Foster for Miami Beach Office Project

Hot-shot residential broker-turned-developer Michael Shvo tapped star architect Norman Foster for his Alton Road project in Miami Beach. Earlier this month, Shvo, in partnership with Deutsche Finance America, paid $39.3 million for a five-property assemblage between Lincoln Road and 17th Street, according to the developer. The properties, at 1290 Lincoln Road, 1656 Alton Road to 1680 Alton Road, as well as a parking lot at 1677 […]

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Michael Stern’s JDS lands $86M loan for planned mixed-use Brickell high-rise

New York and Miami developer Michael Stern secured an $86 million loan for his planned mixed-use Brickell tower called 1 Southside Park. New York-based Maxim Capital Group provided the acquisition and construction financing to Stern’s JDS Development Group, according to a press release. The 64-story tower, between Southwest 11th and 12th streets and Southwest Second […]

JDS Development Group Secures $86 Million in Financing for 1 Southside Park – A 64-Story Mixed-Use Development in Brickell, Miami

Excerpt from Yahoo Finance website: JDS Development Group (JDS) announced today that it has secured $86,000,000 in acquisition and construction financing from Maxim Capital Group for 1 Southside Park, the transformative full city-block development in Miami, Florida in the highly desired Brickell neighborhood. Imagined by JDS Development Group, working with a world-class design team of […]

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New owner Capstone revives Midtown’s Renwick Hotel

Excerpt from The Real Deal website: The Renwick Hotel has arisen after its new owner reportedly scored a “substantial discount” to acquire the property. Capstone Equities reopened the hotel at 118 East 40th Street last month, the Commercial Observer reported. The hotel is operated by the private equity firm’s hospitality management arm, Rebel Hospitality. The […]

Capstone Reopens The Renwick Hotel After Buying Its Defaulted Debt

Excerpt from the Commercial Observer website: The Renwick Hotel at 118 East 40th Street has a new owner in Capstone Equities, and a recapitalization to boot, Commercial Observer has learned. The hotel finally reopened last month after shuttering for two years during the COVID-19 pandemic.  Capstone is now the historic hotel’s owner after its previous proprietor, Meadow Partners, defaulted on […]

Williamsburg condo is a capstone of sorts for an area once flush with development parcels

Excerpt from Crain’s New York Business website: Almost two decades after New York rezoned hundreds of acres in Williamsburg and Greenpoint, giving new life to dying industrial areas but also providing rocket fuel for gentrification, the ambition of that mid-2000s vision can seem crystal-clear. Indeed, as luxury apartment buildings have steadily taken over old factories […]

Commercial Observers Young Professionals 2021

Excerpt from Commercial Observer Website: Maxim Capital Group’s reputation in the industry was one of the key factors that drew Daniella Marca to the firm. “I had known Adam [Glick] and Brian [Steiner] for years, and people just love working with them. Maxim has a large number of repeat borrowers, which is not so common in […]

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Robert A.M. Stern designing West Village spec house

Excerpt from The Real Deal website: RoundSquare Builders are working on their next spec house with Robert A.M. Stern’s architecture firm. The developer bought 107 Bank Street for $9.3 million on Thursday with financing from Maxim Capital Group, said Rob Kaliner, president of RoundSquare. The off-market deal came together in 10 days. The sellers were looking […]

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Chetrit Group sells Miami Beach hotel for $42M

Excerpt from The Real Deal website: The Chetrit Group sold a Miami Beach apartment hotel to its operator for $42 million, The Real Deal has learned. Royal Stays Miami, led by Yedidiah Buchwald, acquired the 104-key property at 1000, 1020 and 1030 Collins Avenue, according to a source. Royal Stays has been operating the property […]

Electra America Hospitality Group Snaps Up The Roger New York Hotel for $19M

Excerpt from the Commercial Observer website: Electra America Hospitality Group has snapped up The Roger New York hotel in Midtown for $19 million, Commercial Observer has learned. The company — a joint-venture between Florida-based Electra America and AKA Hotel Residences — closed on the sale of the leasehold interest of the 193-room hotel at 131 […]

Maxim Capital Lends $18M on Copperline Partners’ Palm Beach Multifamily Buy

Excerpt from the Commercial Observer Website: Copperline Partners has closed a deal to purchase the Edgewater House Apartments in Palm Beach, Fla., Commercial Observer has learned. The acquisition, which closed last week, comprises the 37-unit building plus the land below the property, which is located at 2720 South Ocean Boulevard. The firm secured $17.5 million […]

Mixed-use apartment building proposed after $10.5M purchase of Farmington Marriott

Excerpt from the Hartford Business Journal website: A proposed construction project would convert the former Hartford Marriott Farmington into a mixed-use apartment building featuring a new restaurant and function hall space. CLP Farmington LLC bought the three-story building for $10.5 million, with the intention of converting it into 224 units of market rate studio, one-, […]