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Madison Equities

105 Madison Avenue
New York, NY 10016
(212) 557-7330
Website
info@madisonequities.com
Madison Equities
Madison Equities is a real estate development company. The firm, founded in the 1960s by Kenneth and Lucille Gladstone, has built luxury residential buildings, offices, hotels, and mixed-use properties in Manhattan. Among its most-prized developments are luxury apartment building The Excelsior on 57th Street (known for being the first truly mixed-use building in New York City) and The Galleria, which was known as one of the country’s largest residential buildings when it was erected in 1975. Madison also built the W Times Square Hotel, which included the world’s tallest signage tower. But it also has focused on boutique hotels, especially in recent years, planning the 35-story Hotel Belmont in Midtown. In 2014 the firm sued a Serbian church it had bought air rights from, claiming it failed to disclosed a $13.5 million brokerage fee before finalizing the deal. Madison boasts that it never takes on more than 75 percent debt for any project, preferring to net as much equity in each building as possible.
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PHfbox
04/06/16
So this is what a “penthouse correction” looks like? Of the 261 penthouse units for sale in Manhattan as of April 1, more than 35...
olshanMar14fbox
03/21/16
The Manhattan residential luxury market saw 28 contracts signed for pads asking $4 million or more, according to Olshan Realty’s weekly luxury market report. Tags:...
new development chiefs fb
03/15/16
Condominium construction hit record highs in Manhattan over the past year, with hundreds of new high-end homes rising across the borough. With luxury condo inventory at...
03/01/16
Current reader favorites: 1. See you later, CMBS? 2. Vanke, Adam America and Slate pay $116M for LES dev site 3. Real estate’s new “it”...
10-sullivan-PH-435x228 small
02/29/16
It seems like Madison Equities and Property Markets Group’s much-hyped $45 million triplex penthouse at 10 Sullivan Street was never meant to be. Tags: 10 Sullivan...
02/29/16
Current reader favorites: 1. See you later, CMBS? 2. Little-known broker takes Elliman’s top prize for 2015 3. Fairstead in contract to buy 1,800-unit Savoy...
madison fb
02/26/16
Madison Equities and the Pizzarotti Group’s 1,000-foot condo tower at 45 Broad Street will be a soaring golden colossus with a slim midsection and a...
boris-kuzinez-post-feature
02/05/16
Israeli-Russian billionaire Boris Kuzinez purchased a 12-story commercial building at 260 Fifth Avenue for $59 million, his third buy on the block within the last...
251 West 14th Street
01/28/16
An Italy-based construction services company has purchased a development site in Chelsea from B+B Capital for $23 million in a deal that won’t disrupt plans...
Gladstone ft
01/07/16
Madison Equities and Pizzarotti Group’s plans for their $86 million development site in the Financial District just got significantly bigger. Madison, led by Robert Gladstone,...
Swastika212FifthFbox
12/11/15
A construction crew working on the site of an upcoming condominium conversion at 212 Fifth Avenue unearthed swastika symbols on the mosaic tile floors, sources told...
10/27/15
Current reader favorites: 1. They can’t buy if there’s no supply 2. Are buyers flinching just as new developments hit the market?​ 3. Is $5.4B...
10/26/15
Current reader favorites: 1. Tribeca skybridge officially hits market, asks $50M 2. Madison Equities, partners plan 65-story condo at 45 Broad 3. From the archives:...
gladstone-and-wife-559x416
10/23/15
UPDATED, 7:40 p.m., Oct. 23: Robert Gladstone’s Madison Equities, in partnership with the Italy-based Pizzarotti Group, is planning a 65-story condo tower on a vacant...
Screen Shot 2015-10-02 at 3.43.51 PM
10/02/15
TRD Friday Feature:When Gary Barnett finally won a 14-building portfolio of properties owned by brothers Frank and Michael Ring in late 2013 – after much...
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09/17/15
Contemporary home furnishings retailer Ethan Allen is planning to bring its Uptown Dining Collection to Midtown South, where it will join a growing collection of trendy...
gladstone
09/09/15
New details continue to trickle out on Madison Equities, Thor Equities and Building and Land Technology’s condo conversion of 212 Fifth Avenue in NoMad. Tags: 212...
08/05/15
Current reader favorites: 1. Gladstone’s Madison Equities in contract for 45 Broad Street 2. People earning nearly six figures eligible for City Point affordable housing...
Gladstone 45 Broad
08/03/15
UPDATED, 4:55 p.m., August 3: Robert Gladstone’s Madison Equities is in contract to purchase a Lower Manhattan development site at 45 Broad Street, which could...
Thor Caiola
07/24/15
Joseph Sitt’s Thor Equities backed out of a “soft contract” to buy the Caiola family’s 25-building rental portfolio, the same properties which Blackstone Group is...
From left: George Kaufman, Gary Barnett, 155 West 23rd Street and David Ash
06/19/15
The Kaufman Organization is finalizing the purchase of another ground lease for one of Extell Development’s Ring portfolio buildings, The Real Deal has learned. Tags:...
212-fifth-buy
04/15/15
The Landmarks Preservation Commission has approved the residential conversion of 212 Fifth Avenue. The commission on Tuesday approved proposed changes to the 24-story, 220,000-square-foot office...
10-sullivan-FB
03/30/15
Madison Equities and Property Markets Group’s 10 Sullivan in Soho, has jumped from the Corcoran Group to Douglas Elliman. Tags: 10 Sullivan Street, Cary Tamarkin...
CarlWeisbrod
02/27/15
The city is looking to reevaluate a program under which property owners can transfer unused air rights to others. Tags: Air Rights, carl weisbrod ...
sitt-212-feat
02/26/15
Madison Equities’ Robert Gladstone and Thor Equities’ Joseph Sitt are aiming to capitalize on the coveted address of their planned condominium conversion at 212 Fifth Avenue. ...
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  • Event Financing
  • Address 212 Fifth Avenue
  • Neighborhood Flatiron
  • Borough Manhattan
  • Square feet 220,000
notes
A $275 million construction loan was arranged for the office building. 24-story
  • Event Sales
  • Building Name 247-259 West 54th Street
  • Address 247 West 54th Street
  • Neighborhood Midtown West
  • Borough Manhattan
  • Square feet 97,679
  • Price $ 38,800,000
notes
The building sold for $38.8 million. Boston Properties is working to assemble a parcel of land to develop an 850,000-square-foot tower in the area.
  • Event Sales
  • Address 410 East 92nd Street
  • Neighborhood Yorkville
  • Borough Manhattan
  • Square feet 18,000
notes
School for autistic children buys commercial condo on two floors.
  • Event Sales
  • Address 410 East 92nd Street
  • Neighborhood Yorkville
  • Borough Manhattan
  • Square feet 20,000
  • Price $ 10,000,000
  • Price per foot $ 500.00
notes
The adoption agency acquired two floors of a four-story community facility for $10 million, or $500 per square foot. The other two floors are occupied by The Gillen-Brewer School. Spence-Chapin expected approval for a city-issued $9.8 million bond to purchase the space. The building is part of a development by Madison Equities that includes a new Courtyard by Marriott hotel and a new apartment building, First Avenue Towers.
Manhattan, 10012
Madison Equities|Property Markets Group, SULLIVAN CONDO LLC
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Manhattan, 10010
Madison Equities|Thor Equities, 212 FIFTH AVENUE VENTURE LLC
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A few years ago, law firms were cutting their payrolls and scrambling to refocus their practices on bankruptcies and restructurings. Indeed, the real estate law...
Click to enlarge
CIM founders (left to right): Richard Ressler, Shaul Kuba and Avi Shemesh The principals of the Los Angeles-based private equity firm the CIM Group know a...
Manhattan, 10012
Madison Equities|Property Markets Group, SULLIVAN CONDO LLC
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Manhattan, 10010
Madison Equities|Thor Equities, 212 FIFTH AVENUE VENTURE LLC
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