SME Capital signs $16M refi loan with Maxim for building in SoHo
SME Capital Ventures through the entity Thompson Broome Gexsme LLC as borrower signed a refi loan with lender Maxim Capital Group through the entity Maxim Credit Group, LLC valued at $16 million for the mixed-use condominium building at 52 Thompson Street in SoHo, Manhattan.
The deal closed on May 30, 2025 and was recorded on June 5, 2025. The prior lender was Madison Realty Capital which held debt that had an original loan amount of $21.6 million. The nine condo units have 25,076 square feet of built space according to a PincusCo analysis of city data. The loan price per built square foot is $638 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for SME Capital Ventures was Eran Silverberg . The signatory for Maxim Capital Group was Eric Sadkin .
The property
The building in SoHo has 25,076 square feet of built space according to a PincusCo analysis of city data. The parcel has a total lot size of 4,700 square feet. The most recent loan totaled $21.6 million and was provided by Madison Realty Capital on July 26, 2019.
Violations and lawsuits
The properties were involved in two lawsuits and zero bankruptcies over the past two years. The highest value suit was a $6 million money judgment concerning a loan filed on August 10, 2023, by SME Capital Ventures against Richard Ohebshalom and Pink Stone Capital. In addition, according to city public data, the properties have not received any significant violations in the last year.
Development
There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
The neighborhood
In SoHo, The bulk, or 46 percent of the 9.5 million square feet of commercial built space are office buildings, with mixed-use buildings next occupying 14 percent of the space. In sales, SoHo has 2.4 times the average sales volume among other neighborhoods with $634.8 million in sales volume in the last two years and is the 16th highest in Manhattan. For development, SoHo has had very little major development activity relative to other neighborhoods.It had 351,508 square feet of commercial and multi-family construction under development in the last two years, which represents 4 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other office buildings in the past 12 months.
The block
On the tax block of 52 Thompson Street, PincusCo has identified the owners of eight of the 18 commercial properties representing 153,624 square feet of the 266,329 square feet. The largest owner is Standard International, followed by Centurion Realty and then Henry Hay.
There are no active new building construction projects on this tax block.
The majority, or 22 percent of the 266,329 square feet of built space are mixed-use buildings, with elevator buildings next occupying 22 percent of the space.
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