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Terra Developers Secures $70 Million Construction Loan From Maxim Capital Group For Mixed-use Asset

Property Image
FINANCED
$70,000,000
Max Ralby
Adam Glick
JG

New York

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Mixed-use116,187 SF
Financed 01/30/2026
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FINANCED

Terra Developers Secures $70 Million Construction Loan From Maxim Capital Group For Mixed-use Asset

11 33 44th Drive

See Similar Deals
Mixed-use116,187 SF
Financed 01/30/2026
Max Ralby
Adam Glick
JG
the dealplayerscompscontact
Contact now

Summary

NEW YORK
Asset Type:Mixed-use
Price Per Square Foot:$602
Total Square Footage:116,187 SF
Transaction Type:Loan

This mixed-use property located at 11-33 44th Drive in Long Island City encompasses a total square footage of 116,187 and includes 113 units. A construction loan has been secured for this asset, amounting to $70,000,000, with a term of 3 years.

Summary of transaction details:

  • Property Type: Mixed-use
  • Transaction Amount: $70,000,000
  • Address: 11-33 44th Drive
  • Market: Long Island City
  • Lender: Maxim Capital Group
  • Landlord: Terra Developers
  • Broker: Max Ralby - Newmark
  • Loan Type: Construction
  • Loan Terms: 3 years

The deal involves key participants including Maxim Capital Group as the lender, Terra Developers as the landlord, and Max Ralby representing the transaction through Newmark. The coordination among these individuals plays a pivotal role in the execution of the loan agreement.

Players

Max Ralby
Newmark
Max Ralby
74 deals$3.8B volume
BROKER
Maxim Capital Group
Maxim Capital Group
LENDER
Adam Glick
Maxim Capital Group
Adam Glick
27 deals$1B volume
ORIGINATOR
JG
Maxim Capital Group
Josh Greene
15 deals$623.7M volume
ORIGINATOR
Maxim Capital Group
Maxim Capital Group
ORIGINATOR

Details

FINANCED
IMAGE: Max Ralby, Josh Greene, Adam Glick & Joey Dinetz DATE: 1/30/2026 ADDRESS: 11-33 44th Drive MARKET: Long Island City ASSET TYPE: Mixed-use ~ SF: 116,187 ~ UNITS: 113 LENDER: Maxim Capital Group (@MaximCapitalGroup) LANDLORD: Terra Developers BROKER: Max Ralby (@MaxRalby) - Newmark (@Newmark) LOAN AMOUNT: $70,000,000 LOAN TYPE: Construction LOAN TERMS: 3 years

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$70,000,000.00

Monthly NOI$466,666.67
Monthly Debt Service$442,447.62
Change in Cash Flow$0.00
Refinance Proceeds$0.00