Maxim Capital Lends $27M for Construction of Upper East Side Condos

Excerpt from the Commercial Observer website: Rybak Development has landed $26.5 million of construction financing to build a condominium building on the site of what once was an Upper East Side hotel, Commercial Observer has learned.

Maxim Capital Group supplied the loan for the developer’s 11-story residential building at 500 East 81st Street in the Yorkville neighborhood, according to Meridian Capital Group, which arranged the financing. The deal was structured at a 65 percent loan-to-cost ratio, according to Meridian, which negotiated the transaction with a team led by Scott Miller, Eli Finkel and Rael Gervis.

Read the full article here: https://commercialobserver.com/2025/05/27m-upper-east-side-manhattan-condos/?utm_medium=organic-social&utm_source=linkedin&utm_campaign=editorial