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    Madison Equities

    105 Madison Avenue
    New York, NY 10016
    (212) 557-7330
    Website
    [email protected]

    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 the Excelsior luxury apartment building 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 worlds 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.

    • Event Sales
    • Address 212 Fifth Avenue
    • Neighborhood Flatiron
    • Borough Manhattan
    • Price $ 26,500,000
    notes
    The buyer secured three retail condos inside the Flatiron property for $26.5 million.
    • Event Financing
    • Address 45 Broad Street
    • Neighborhood the Financial District
    • Borough Manhattan
    • Price $ 56,000,000
    • Publication Date 09/01/2017
    • Event Date 08/01/2017
    • Party 1 Madison Equities
    • Party 2 HSBC Bank
    notes
    The owner refinanced the project
    • Event Retail Leasing
    • Address 212 Fifth Avenue
    • Neighborhood NoMad
    • Borough Manhattan
    • Square feet 2,100
    notes
    The fabric designer signed a lease for its first NYC retail location.
    • Event Sales
    • Address 45 Broad Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Square feet 13,202
    • Price $ 69,900,000
    • Price per foot $ 5,294.00
    • Publication Date 10/01/2016
    • Event Date 08/15/2016
    • Party 1 Madison Equities
    • Party 2 Gemdale Properties
    notes
    A stake in the property sold for $69.9 million.
    • Event Sales
    • Address 45 Broad Street
    • Neighborhood Financial District
    • Borough Manhattan
    • Square feet 12,600
    • Price $ 86,000,000
    • Price per foot $ 6,825.40
    • Publication Date 12/01/2015
    • Event Date 10/22/2015
    • Party 1 LCOR
    • Party 1 Brokerage HFF
    • Party 1 Broker Andrew Scandalios, Jeff Julien, KC Patel, Jose Cruz
    • Party 2 Madison Equities, Impresa Pizzarotti & C. Spa
    notes
    The building sold for $86 million.
    • 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
    • Price per foot $ 397.22
    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 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 multifamily residential building, First Avenue Towers.
    • 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.
    Manhattan, 10013
    145 AMERICAS, LLC
    The sponsor(s) filed plans on 06/23/04 for a condo project at 134 Avenue...
    Manhattan, 10003
    Madison Equities, 57-59 IRVING PLACE, LP
    The sponsor(s) filed plans on 04/16/08 for a condo project at 57 Irving...
    Manhattan, 10022
    Madison Equities
    ...
    Manhattan, 10011
    Madison Equities, 447-453 WEST 18, LP
    The sponsor(s) filed plans on 09/13/06 for a condo project at 447-453 West...
    Manhattan, 10004
    Madison Equities, Gemdale Properties, 45 BROAD, LLC
    The sponsor(s) filed plans on 07/18/08 to test the market with a project...
    Manhattan, 10128
    Madison Equities, WATERFORD CONDOMINIU
    ...
    Manhattan, 10022
    Madison Equities, THE GALLERIA CONDOMIN
    ...
    Manhattan, 10013
    Madison Equities|Property Markets Group, 145 AMERICAS, LLC
    ...
    Manhattan, 10010
    Madison Equities, 212 FIFTH AVENUE VENTURE LLC
    The sponsor(s) filed plans on 04/21/15 to test the market with a project...

    06/01/2018
    Those deals included 21 closings at 212 Fifth Avenue, a condo conversion by Thor Equities, Madison Equities and Building and Land Technology...

    08/01/2017
     In January, the developers behind 212 Fifth Avenue â€' a partnership between Madison Equities, Building and Land Technology and Thor Equities â€' sued Town for failing to hit sales targets at the 48-unit condo conversion...

    02/24/2017
    Elliman had a nearly-identical drop in new business, picking up just $2 billion in exclusives. Compass, which picked up over $1.5 billion in exclusives in 2015, landed only one approved Manhattan project in 2016, Magnum Real Estate Group’s 196 Orchard Street. CORE’s haul fell to just one small Harlem project, and Town Residential, recently taken off Madison Equities, Building and Land Technology and Thor Equities’ 212 Fifth Avenue, did not pick up a single Manhattan project in 2016...

    09/28/2016
    From left: Allianz CEO Oliver Bäte and 10 Hudson Yards, PGIM CEO Eric Alder and 11 Madison Last month’s 10 most expensive investment sales in From left: Allianz CEO Oliver Bäte and 10 Hudson Yards, PGIM CEO Eric Alder and 11 Madison Last month’s 10 most expensive investment sales in...

    09/01/2015
    From left: Gary Rosenberg, Luise Barrack and Warren Estis, whose firm nabbed the No. 1 spot. A few years ago, law firms were cutting their payrolls From left: Gary Rosenberg, Luise Barrack and Warren Estis, whose firm nabbed the No. 1 spot. A few years ago, law firms were cutting their payrolls...

    12/01/2011
    A number of CIM's local partners -- including Macklowe, Tamir Sapir, Madison Equities and iStar -- also declined to comment, noting that CIM liked to control its own publicity...
    Manhattan, 10004
    Madison Equities, Gemdale Properties, 45 BROAD, LLC
    The sponsor(s) filed plans on 07/18/08 to test the market with a project...
    Manhattan, 10010
    Madison Equities, 212 FIFTH AVENUE VENTURE LLC
    The sponsor(s) filed plans on 04/21/15 to test the market with a project...
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