From the February issue: Last July, Madison Realty Capital ventured as a buyer for the first time into Rego Park, a middle-class neighborhood in the heart of central Queens that has of late seen a flurry of upscale developments. The high-profile investor-lender partnered with Midtown-based investment firm Arel Capital to ring up a $136 million purchase on a 419-unit rental building called Saxon Hall.
The buy turned out to be a record-breaker. Not only was the deal the largest ever transaction in Rego Park, it represented the fourth-largest Queens sale in 2016. [more]