Maxim Capital Funds Long Island City Condo Project with $115M Loan
Deal News | Jul 16, 2025 | Maxim Capital Group Inc
Maxim Capital Group Inc. has issued a $115 million construction loan for the erection of a new condominium tower in Long Island City, Queens. The financial backing is directed towards a joint venture of Montperia Group and JLS Construction, which plans to build a 207-unit condominium at 24-02 Queens Plaza South. The site, positioned in Hunters Point, once housed the Apex Technical School. With this investment, Maxim Capital Group not only strengthens its foothold in the New York real estate market but also contributes to the ongoing transformation and development of Long Island City's skyline.
Sectors
- Real Estate Development
- Private Equity
- Construction
Geography
- United States – The article is based on a real estate development project in Long Island City, Queens, New York, USA.
- New York – The geographical focus of the condo project is in Long Island City, a neighborhood in Queens, New York, highlighting the regional aspect of the construction and financing deal.
Industry
- Real Estate Development – The article focuses on a major construction financing deal for a new condo tower in Long Island City, highlighting the real estate development efforts in the area.
- Private Equity – Maxim Capital Group's involvement as a financial provider showcases its role in private equity, particularly in real estate investments.
- Construction – The article discusses construction financing, with JLS Construction playing a significant role in building the condominium tower.
Financials
- 115,000,000 – The construction loan amount provided by Maxim Capital Group for the condo tower project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Maxim Capital Group Inc. | Lender | Company | A private equity firm providing substantial construction financing for the project. |
| Montperia Group | Developer | Company | Part of the joint venture managing the construction of the condominium tower. |
| JLS Construction | Developer | Company | Collaborating with Montperia Group on the condo tower project. |