A joint venture between Dornin Investment Group (DIG) and Torchlight Investors has secured fresh capital for a nearly completed Brooklyn multifamily development four months after purchasing the property’s nonperforming note. Maxim Capital Group provided $53.2 million of senior participation financing for DIG and Torchlight’s purchase of the debt tied to the 131-unit apartment project at […]
The energy was palpable in January when Jason Bordenick visited Miami for the CRE Finance Conference with his partners at New York City-based commercial real estate bridge lender Maxim Capital Group. Many in the industry were operating on the highs of the Federal Reserve cutting interest rates three meetings in a row and heightened investment […]
A trio of developers has snapped up a Brooklyn development site that once sparked a contentious rezoning battle. Avery Hall Investments, the Brodsky Organization and Monadnock Construction bought the long-vacant development site at 962 Pacific Street and an adjacent property at 863 Dean Street on the border of Prospect Heights and Crown Heights, Avery Hall […]
The financing from Maxim Capital Group covers Surf Row Residences, a 24-unit project at 8800 Collins Avenue, a block west of the beach and facing 88th Street. Construction got underway late last year, with delivery expected in 2027. “Surf Row Residences stood out for its strong early sales momentum, prime Surfside location and highly differentiated boutique positioning,” Jason Bordenick, portfolio […]
“This financing will propel Glass House toward completion and solidify its position as a luxury icon in the heart of Boca Raton,” Ziv said in a statement. Located at 280 East Palmetto Park Road in Downtown Boca Raton, the 28-residence project has presold more than one-third of the condos with prices ranging from $2.7 million to over […]
Terra Developers has secured $70 million in construction financing for 11-33 44th Drive, a forthcoming eight-story residential building in Long Island City, Queens. The 74,728-square-foot structure will yield 113 condominium units, ground-floor retail space, and 23 parking spots. The 180,000-square-foot property is located between 11th and 21st Streets. Maxim Capital Group provided the financing, with Newmark […]
Excerpt from New York YIMBY: At number 12 on our year-end countdown of the tallest construction projects in New York is Link Apartments 8 Carlisle, a 789-foot-tall residential skyscraper at 8 Carlisle Street in Manhattan’s Financial District. Designed by Handel Architects and developed by Grubb Properties and Pink Stone Capital, the 64-story structure will span 326,221 […]
Excerpt from the Commercial Observer website: A development team led by PMG secured $92.5 million to build a luxury condo tower in Overtown, Miami’s historically Black neighborhood. The construction financing from Maxim Capital Group will fund the 372-unit One West Twelve Residences. The development team also includes Michael Simkin’s Lion Development Group and Alex Karakhanian’s […]
Excerpt from The Real Deal website: PMG, Michael Simkin’s Lion Development Group and Alex Karakhanian’s Lndmrk Development scored a $92.5 million construction loan for their short-term rental friendly condo project in Miami’s Overtown neighborhood. The partners secured financing from New York-based Maxim Capital Group, according to a news release. The loan is for One West […]
Excerpt from the Commercial Observer website: A joint venture between developers EJS Group and Krown Point Capital has acquired two development sites in Midtown East for a total of $39 million, Commercial Observer has learned. EJS and Krown Point purchased the two adjacent lots at 1059-1061 Second Avenue — along with associated air rights packages […]
Excerpt from the Commercial Observer website: Property Markets Group (PMG) has secured $107.5 million in construction financing to build Waldorf Astoria Residences Denver Cherry Creek, a collection of 37 luxury condominium homes in Denver, Colo. Maxim Capital Group provided the construction debt, while a PMG Capital Markets team of Andrew Warman, Jonathan Blank, and Paton […]
Excerpt from the BISNOW website: PMG secured $107.5M in construction financing for Waldorf Astoria Residences Denver Cherry Creek, a 37-unit condo project at 185 N. Steele St. that will mark the Waldorf Astoria brand’s Colorado debut. The boutique development will feature fully finished residences ranging from 690 SF to 3,880 SF. Sales are being led […]