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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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12/17/18
...From left: 520 Fifth Avenue, Madison Equities’ Robert Gladstone, and Ceruzzi Properties’ Arthur Hooper (Credit: CityRealty and Getty Images)
Following the...
11/28/18
...Tuesday to Judge Gerald Lebovits.
The CEO of Madison Equities alleged in March 2017 that the brokerage executive defamed him and tried to “poison public...
11/05/18
...both sales and prices slide.
A partnership between Madison Equities, Building and Land Technology and Thor Equities developed the 24-story building at 212 Fifth, which...
09/24/18
...It is marketing 212 Fifth Avenue on behalf of Madison Equities, Thor Equities and Building and Land Technology, as well as Alchemy Properties' Woolworth Residences...
09/20/18
...request for comment — has also backed PMG and Madison Equities’ condo development at 124 Sixth Avenue, a former carwash. Madison’s Robert Gladstone called Becker...
07/05/18
...proposed mixed-use residential tower at 45 Broad Street.
Gladstone's Madison Equities, along with partners Pizzarotti Group, Gemdale Properties and AMS Acquisitions, agreed to build two...
06/04/18
...Fifth Avenue, a condo conversion by Thor Equities, Madison Equities and Building and Land Technology. (Gold, who came in at No. 8 with $174.8 million in...
...Fifth Avenue, a condo conversion by Thor Equities, Madison Equities and Building and Land Technology. (Gold, who came in at No. 8 with $174.8 million in...
04/02/18
...th floor co-op in the building for $18.8 million.
Madison Equities, Building and Land Technology and Thor Equities condominium redevelopment of 212 Fifth Avenue notched the...
02/02/18
...though the company is also a partner on Madison Equities...
02/02/18
...who is marketing the 48-unit building for developers Madison Equities, Building and Land Technology and Thor Equities.
At just over 10,000 square feet, the triplex...
01/11/18
...Supreme Court judge dismissed a lawsuit brought by Madison Equities...
12/21/17
...boss was sued for $30 million in March by Madison Equities’ Robert Gladstone, who alleged “intentional neglect” at their joint condominium project at 10 Sullivan Street...
11/18/17
...January listing price.
The new asking price makes Madison Equities...
11/15/17
...the 48-unit condo 212 Fifth Avenue — a project by Madison Equities, Thor Equities and Building and Land Technology — they are “cranking” out contracts.
But some...
11/06/17
...Michael Mitnick of AMS Acquisitions, a partner on Madison Equities’ 1,100-foot tower at 45 Broad Street, said Ashkenazy mentored him and company co-head Avi Abadie...
11/05/17
...Robert Gladstone CEO of Madison Equities, front; urbanist Jane Jacobs, back (Front photo by Studio Scrivo; back photo: New York...
...Michael Mitnick of AMS Acquisitions, a partner on Madison Equities’ 1,100-foot tower at 45 Broad Street, said Ashkenazy mentored him and company co-head Avi Abadie...
...the 48-unit condo 212 Fifth Avenue — a project by Madison Equities, Thor Equities and Building and Land Technology — they are “cranking” out contracts.
But some...
09/14/17
...represented other megafirms such as Vornado Realty Trust, Madison Equities and Novel Property Ventures.
5:21 a.m. My alarm goes off in my co-op in...
09/12/17
...The Fifth Avenue building, a condo conversion by Madison Equities, Thor Equities and Building and Land Technology (BLT) has 48 units, including a penthouse that...
...represented other megafirms such as Vornado Realty Trust, Madison Equities and Novel Property Ventures.
5:21 a.m. My alarm goes off in my co-op in...
08/01/17
...Broad Street and Robert Gladstone
Robert Gladstone’s Madison Equities landed $56 million in refinancing for its 84-story condominium tower at 45 Broad Street in the...
...the developers behind 212 Fifth Avenue — a partnership between Madison Equities, Building and Land Technology and Thor Equities — sued Town for failing to hit sales...
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...
- 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
- Publication Date 08/01/2017
- Event Date 06/20/2017
- Party 1 Madison Equities, Thor Equities
- Party 1 Brokerage Thor Retail Advisors
- Party 1 Broker Matthew Seigel
- Party 2 Togas House of Textiles
- Party 2 Brokerage Keller Williams Realty
- Party 2 Broker Tatiana Pinhasi
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
- 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, 10004
Madison Equities, Gemdale Properties, 45 BROAD, LLC
Madison Equities, Gemdale Properties, 45 BROAD, LLC
The sponsor(s) filed plans on 07/18/08 to test the market with a project...
Manhattan, 10011
Madison Equities, 447-453 WEST 18, LP
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, 10013
Madison Equities|Property Markets Group, 145 AMERICAS, LLC
Madison Equities|Property Markets Group, 145 AMERICAS, LLC
...
Manhattan, 10010
Madison Equities, 212 FIFTH AVENUE VENTURE LLC
Madison Equities, 212 FIFTH AVENUE VENTURE LLC
The sponsor(s) filed plans on 04/21/15 to test the market with a project...
Manhattan, 10013
PROPERTY MARKETS GROUP, ATLANTIC INVESTORS LLC
PROPERTY MARKETS GROUP, ATLANTIC INVESTORS LLC
The sponsor(s) filed plans on 03/27/14 for a condo project at 10 Sullivan...
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, 10004
Madison Equities, Gemdale Properties, 45 BROAD, LLC
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
Madison Equities, 212 FIFTH AVENUE VENTURE LLC
The sponsor(s) filed plans on 04/21/15 to test the market with a project...
Manhattan, 10013
PROPERTY MARKETS GROUP, ATLANTIC INVESTORS LLC
PROPERTY MARKETS GROUP, ATLANTIC INVESTORS LLC
The sponsor(s) filed plans on 03/27/14 for a condo project at 10 Sullivan...
