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New York

Madison Realty Capital forges ahead with Noho condo

Madison President Brian Shatz and a rendering of 688 Broadway
Madison President Brian Shatz and a rendering of 688 Broadway

A joint venture led by Madison Realty Capital is moving ahead with plans to bring a boutique condominium project to a vacant site at 688 Broadway, between East 3rd and East 4th streets, in Noho.

Madison President Brian Shatz filed plans last week for a 12-story, 14-unit condominium at the site, according to the Department of Buildings website.

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While the project received unanimous approval from the Landmarks Preservation Commission in October 2012, the developer is currently awaiting special permit approval for residential use by the city before pushing on with the project, Shatz told The Real Deal. Subject to the necessary approvals, Madison aims to break ground on the project by the end of 2014.

“We strongly believe that residential with ground floor retail is appropriate for the community and will mesh well with the character of the Noho Historic District,” Shatz said.

The prospective new residential building will be designed by George Schieferdecker of BKSK Architects, according to the DOB filing. Bksk Designed The Nearby Condo Project 25 Bond Street.

The lot was previously used to host a flea market.

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Madison Realty Capital