Maxim Capital Lends $27M for Upper East Side Condo Project
Deal News | May 28, 2025 | Maxim Capital Group Inc
Maxim Capital Group Inc. has issued a $26.5 million loan to Rybak Development for the construction of an 11-story condominium building at 500 East 81st Street in New York City's Yorkville neighborhood. This site was previously occupied by a hotel but will be transformed into a residential space through this significant investment. Meridian Capital Group played a key role in arranging the financing, structuring the deal at a 65 percent loan-to-cost ratio. Leading the transaction at Meridian were Scott Miller, Eli Finkel, and Rael Gervis, who successfully negotiated the details with Maxim Capital.
Sectors
- Real Estate Development
- Financial Services
Geography
- United States – The construction and funding are taking place in New York City, USA.
- New York City – The specific development and financing activities are occurring in the Yorkville neighborhood of New York City.
Industry
- Real Estate Development – The article discusses the construction of a new condominium building, which falls under real estate development activities.
- Financial Services – Maxim Capital Group is providing financial services in the form of a construction loan, indicating its role within the financial services industry.
Financials
- $26.5 million – The total amount of the construction loan provided by Maxim Capital Group to Rybak Development.
- 65% – The loan-to-cost ratio at which the construction financing deal was structured.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Maxim Capital Group Inc. | Bidding Company | Company | A private equity firm that provided the $26.5 million financing for the project. |
| Rybak Development | Target Company | Company | The developer receiving the $26.5 million loan to construct a condo in New York City. |
| Meridian Capital Group | Financial Advisor | Company | The firm that arranged the financing for the development project. |
| Scott Miller | Key Negotiator | Person | A member of the team at Meridian Capital Group who played a leading role in negotiating the financing. |
| Eli Finkel | Key Negotiator | Person | A member of the team at Meridian Capital Group involved in the financing negotiation. |
| Rael Gervis | Key Negotiator | Person | A member of the team at Meridian Capital Group who was instrumental in structuring the deal. |