Capstone Equities Buys Nonperforming Loan on Garden City, N.Y., Office Complex
Tuesday, November 10, 2026 · first reported by Commercial Observer
Capstone Equities, founded by Josh Zamir, has bought the nonperforming loan on Garden City Plaza, an office complex in Garden City, N.Y. Capstone paid $51 million for the $95 million loan, which Bank of America had held. Maxim Capital supplied $41 million of note-on-note financing, negotiated by Iron Hound Management. Newmark advised Zamir on the purchase.
Treeline Properties, the owner of the 600,000-square-foot property, remains in the deal, as the sale was cooperative. Zamir said the transaction closed in two weeks, including due diligence. It is Capstone's 50th deal.
- Also named
- Maxim Capital, Bank of America
- Deal value
- $51M
- Asset class
- Credit, Real estate
- Geography
- North America
Advisers Newmark (financial adviser)
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