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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 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.
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07/03/17
...has closed. At 45 Broad Street, Robert Gladstone’s Madison Equities and partners are looking for a $287 million loan. And Michael Shvo has yet to...
06/05/17
...Upper East Side. The designs were produced for Madison Equities, though the site is still owned by Euro Properties. In a recent interview with...
06/01/17
...that can be recouped by Robert Gladstone of Madison Equities in his libel lawsuit against Town Residential CEO Andrew Heiberger have been capped at...
05/22/17
...in January, the development team, a partnership between Madison Equities, Building and Land Technology and Thor Equities, alleged that the brokerage resisted being replaced...
05/12/17
...building developed by Maloney and Robert Gladstone’s Madison Equities. But in August, the developers transferred three adjacent Sullivan Street townhouses to Becker in...
05/12/17
...on behalf of developers Starwood Capital Group and Madison Equities. One of his largest was Starwood's $500 million loan to refinance an 85-hotel portfolio across...
04/27/17
...Lower Manhattan which it's developing in partnership with Madison Equities.
He and Chang also dished on the current political climate in the U.S...
04/27/17
...Reuveni colluded with the developer, Robert Gladstone of Madison Equities, to conceal accepted and pending offers.
In his new role, Reuveni is "uniquely positioned...
04/10/17
...conversion 212 Fifth Avenue, developed by a partnership between Madison Equities, Building and Land Technology and Thor Equities. The apartment has three bedrooms, three bathrooms...
04/06/17
...-square-foot spread.
The Fifth Avenue building, developed by Madison Equities, Thor Equities and Building and Land Technology (BLT), is now under construction and will...
03/28/17
...Becker was a financial backer of PMG and Madison Equities...
03/24/17
...Images)
Robert Gladstone is really suiting up.
His Madison Equities slapped Property Markets Group and its principal Kevin Maloney with a lawsuit, claiming Maloney...
03/23/17
...Credit: STUDIO SCRIVO and CityRealty)
Robert Gladstone of Madison Equities is suing Town Residential's Andrew Heiberger for $100 million, alleging the head of the brokerage...
03/23/17
...to accept."
The development team, a partnership between Madison Equities, Building and Land Technology and Thor Equities, sued Town in January, alleging the brokerage...
03/21/17
...Last month, the developers of 212 Fifth Avenue -- Madison Equities, Joseph Sitt’s Thor Equities and Building and Land Technology -- tapped Sotheby’s...
03/09/17
...amp; Schein, who has worked with Toll Brothers, Madison Equities, Magnum and Extell on various projects.
The Bentley club
But developers aren’t just...
02/24/17
...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...
02/23/17
...for comment. The developers of the building -- Madison Equities, Building Land & Technology and Thor Equities -- declined to comment.
The new development...
02/13/17
...developers, a joint venture between Robert Gladstone’s Madison Equities, Joseph Sitt’s Thor Equities and Connecticut-based Building and Land Technology. Sotheby’s Nikki...
02/01/17
...north of Madison Square Park is spearheaded by Madison Equities, Building and Land Technology and Thor Equities. The penthouse is asking a whopping $68.5 million...
01/17/17
...sales benchmarks.
The development team, a partnership between Madison Equities, Building and Land Technology and Thor Equities, claims that they sought to end Town...
01/16/17
...according to Olshan Realty's latest luxury market report.
Madison Equities and Property Markets Group’s 10 Sullivan Street in Soho logged last week’s biggest...
01/03/17
...condo at 212 Fifth Avenue, an office-building-turned-condo converted by Madison Equities and Thor Equities. The unit, 15B, had an asking price of $9.1 million. — Kathryn Brenzel...
12/09/16
...estate in 2015, and earlier this year joined with Madison Equities as an investor and developer on a planned 206-unit condominium at 45 Broad Street in...
11/16/16
...developed by Kevin Maloney's Property Markets Group and Madison Equities.
“In all the full-floor units of the building, it looks north, so that when...
- 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
- Publication Date 03/01/2015
- Event Date 01/20/2015
- Party 1 Madison Equities, Building and Land Technology, Thor Equities, Dustin Stolly, JLL
- Party 1 Brokerage iStar Financial
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
- Publication Date 03/01/2007
- Event Date 01/20/2007
- Party 1 Local family
- Party 1 Brokerage Eastern Consolidated
- Party 1 Broker Brian Ezratty, Scott Ellard
- Party 2 Boston Properties, Madison Equities
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
- Publication Date 07/01/2006
- Event Date 05/22/2006
- Party 1 Madison Equities
- Party 1 Brokerage Madison Equities, Corcoran Group, Wexler Healthcare Properties
- Party 1 Broker John Lesher, Paul Wexler
- Party 2 Spence-Chapin
- Party 2 Brokerage Cassidy Turley
- Party 2 Broker David Lebenstein, Arlene Wysong, Nicola Heryet
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
- Publication Date 12/01/2005
- Event Date 10/22/2005
- Party 1 Madison Equities
- Party 2 Gillen-Brewer School
- Party 2 Brokerage Cassidy Turley
- Party 2 Broker David Lebenstein, Arlene Wysong
notes
School for autistic children buys commercial condo on two floors.
Manhattan, 10012
Madison Equities|Property Markets Group, SULLIVAN CONDO LLC
Madison Equities|Property Markets Group, SULLIVAN CONDO LLC
...
Manhattan, 10013
CIM Group|Property Markets Group, SULLIVAN CONDO LLC
CIM Group|Property Markets Group, SULLIVAN CONDO LLC
Just a few blocks from the Holland Tunnel, the corner property at 72...
02/24/17
...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...
09/28/16
...developer Gemdale Properties took an 81.3 percent stake from Madison Equities in its under-construction 45 Broad Street condominium project for $69.9 million. The estimated sellout of the...
...including developers like Extell Development Company, Silverstein Properties, Madison Equities and the Gotham Organization, which it represented at Gotham West, a $520 million project that...
...CIM's local partners -- including Macklowe, Tamir Sapir, Madison Equities and iStar -- also declined to comment, noting that CIM liked to control its...
Manhattan, 10012
Madison Equities|Property Markets Group, SULLIVAN CONDO LLC
Madison Equities|Property Markets Group, SULLIVAN CONDO LLC
...
Manhattan, 10013
CIM Group|Property Markets Group, SULLIVAN CONDO LLC
CIM Group|Property Markets Group, SULLIVAN CONDO LLC
Just a few blocks from the Holland Tunnel, the corner property at 72...
