Maxim Capital Group Provides $38.25M Acquisition Loan For Long Island City Development Site

The development site located at 42-50 24th Street in Long Island City was involved in a recent transaction. The loan amount for the acquisition of this property was $38,250,000. The lenders for this deal were Adam Glick and Josh Greene from Maxim Capital Group, while the landlord involved was Chris Xu. The transaction was facilitated by brokers Morris Betesh and Omar Ferreira from Meridian Capital Group.

Summary of transation details:

• Property Type: Development Site
• Transaction Amount: $38,250,000
• Address: 42-50 24th Street
• Market: Long Island City
• Lender: Adam Glick & Josh Greene - Maxim Capital Group
• Landlord: Chris Xu
• Brokers: Morris Betesh & Omar Ferreira - Meridian Capital Group
• Loan Type: Acquisition

The key individuals and companies involved in this transaction included Adam Glick and Josh Greene as the lenders, Chris Xu as the landlord, and Morris Betesh and Omar Ferreira as the brokers. This deal showcased successful collaboration between these parties in the acquisition of the development site in Long Island City.