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Investegate |Madison Realty Capital Announcements | Madison Realty Capital: Madison Realty Capital Provides $53 Million Construction Financing to Heritage Equity Partners for Multifamily Development in Brooklyn

Madison Realty Capital
Madison Realty Capital Provides $53 Million Construction Financing to Heritage Equity Partners for Multifamily Development in Brooklyn
Madison Realty Capital Provides $53 Million Construction Financing to Heritage Equity Partners for Multifamily Development in Brooklyn
NEW YORK, Jan. 19, 2021 (GLOBE NEWSWIRE) Madison Realty Capital, a New York City based real estate private equity firm focused on debt and equity investment strategies, today announced it has provided $53 million in construction financing to Heritage Equity Partners, led by Toby Moskovits and Michael Lichtenstein, for a 150-unit ground-up multifamily development located at 875 4
th Avenue between 32
nd and 33
rd Streets, in “South Park Slope,” also known as the Sunset Park neighborhood of Brooklyn, NY. ....

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2020's Top Brooklyn Retail Leases

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Clockwise from left: 475 Clermont Avenue, 5200 1st Avenue and 445 Albee Square West in Brooklyn (Google Maps; StreetEasy)
With Manhattan in dismay, Brooklyn came to play.
With more people staying home in the outer boroughs this year, retailers came to them, signing leases for some major square footage.
But half of the year’s largest leases were signed in January and February, before the impact of the pandemic became clear.
The deals varied greatly. Some were your traditional clothing store or gym, while others consisted of night clubs and even schools. Educational users accounted for two of the 10 largest leases by square footage, with another taking the 11th spot. ....

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10 Biggest Office Leases In Brooklyn and Queens in 2020

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Chris Whittle and Tishman Speyer’s Rob Speyer with a rendering of The Wheeler at 181 Livingston Street (Photos via Getty Images and The Whittle School)
Signs of a pandemic-fueled market slowdown are obvious when looking at the top office leases in Brooklyn and Queens this year six out of the 10 deals in
The Real Deal’s ranking closed in January and February.
But in the few months before the pandemic took hold, several large leases were signed. The sum of top 10 deals in 2020 was 1.44 million square feet, a 20 percent increase from the 2019 total. That was mostly thanks to Whittle School’s 620,000-square-foot lease in Downtown Brooklyn, which was inked in early February. Amazon came in second with a 300,000-square-foot lease in Queens the only deal in that borough that made the top 10 that was signed in late February. ....

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