Excerpt from the Commercial Observer website: Not many boutique offices in SoHo are scoring $50 million construction loans in this market, but 40 Crosby Street just did. The 70,000-square-foot, five-story KPG Funds-developed building dubbed “The Crosby,” which is aiming to open in the first quarter of 2024, secured financing from Sabal Investment Holdings and GDS Brightstar, the lending arm of GDSNY, Commercial […]
Excerpt from the Real Deal website: Chris Xu is wasting no time revealing his plans for a Queens development site he scooped up last month from Steve Roth’s Vornado Realty Trust. Xu’s United Construction and Development Group — best known for developing Queens’ tallest building, Skyline Tower in Long Island City — released renderings for […]
Excerpt from the Commercial Observer website: United Construction and Development Group has landed $40 million of acquisition financing to purchase a Rego Park, Queens, development site to build a mixed-use multifamily project, Commercial Observer has learned. Maxim Capital Group provided the loan for United’s acquisition of 93-30 93rd Street, which spans nearly 140,000 square feet […]
Excerpt from Tampa Business Journal Website: A Miami developer is moving forward with plans to build a $200 million mixed-use project in downtown Tampa’s Encore district. LD&D said it has closed on 2 acres at 1101 E. Harrison St. for $10 million. The developer previously said it planned to build a 28-story, 365-unit luxury apartment […]
Excerpt from Commercial Observer Website: Watson Island, a prime publicly owned enclave between Downtown Miami and South Beach, may finally be getting a makeover. A joint venture between BH3 Management and Merrimac Ventures purchased the 75-year ground lease for a 10.8-acre parcel on the island from Flagstone Property Group. The pair declined to disclose the financial terms of the deal, […]
Excerpt from Commercial Observer Website: Caliber Companies has snagged a big catch, just before Super Bowl LVII kicks off at nearby State Farm Stadium. Maxim Capital Group and Beach Point Capital Management have provided a $55 million bridge loan to the sponsor for three of its airport hotels in Phoenix, Commercial Observer has learned. Read […]
Excerpt from ConnectCRE Website: Cushman & Wakefield advised Fine Properties of New York in procuring $35,000,000 construction completion and condo-inventory financing for The Elisa, a 25-unit condominium property located at 251 W. 14th St. in Chelsea. The two-year loan with two six-month extension options was provided by Maxim Capital Group. Read the full article here: […]
Excerpt from The Real Deal Website: Kushner Companies and Aimco sold a piece of their three-lot development assemblage near downtown Fort Lauderdale’s Brightline station. Woodfield Development paid $18.3 million for the 0.8-acre site at 520 West Broward Boulevard, with plans to build a 41-story multifamily tower, according to records. The buyer took out a $9.1 […]
Excerpt from Commercial Observer Website: If Josh Greene could pick one New York City neighborhood in which to invest in housing right now, it would be Flushing in Queens. “I think it’s amazing. There’s been so much growth in Flushing,” he said. “It’s one of those communities that’s been insulated from what’s going on. It […]
Alchemy Properties South, in partnership with New Valley Realty, has purchased two properties located in Raleigh for a combined $16 million. The site of the properties, which include a vacant lot at 303 S. Dawson St. and an adjacent retail building at 217 W. Martin St., will be redeveloped as a luxury residential building to […]
ASAP Holdings nabbed $32 million of acquisition financing to purchase and redevelop a 293-key hotel in Austin, Texas, Commercial Observer has learned. Beach Point Capital Management and Maxim Capital Group provided the acquisition and redevelopment loan for ASAP’s newly acquired Radisson Austin North. ASAP purchased the hotel from Lockwood Companies for $38.5 million. The property is five minutes from downtown Austin and […]
Excerpt from The Real Deal website: Aimco added the final piece to its Flagler Village development site where the company plans a major mixed-use project. Denver-based Aimco bought 1.4 acres of land on the southwest corner of Northeast Ninth Street and Northeast Fifth Avenue in downtown Fort Lauderdale for $16 million, according to a deed. […]