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Retail Condo Interest Trades for $80M

NEW YORK CITY-Madison Capital picks up a partnership interest in an 85,000-sf retail condominium in 1880 Broadway. The under-construction site will include four floors of retail space.

By Barbara Jarvie | Updated on April 20, 2006

(For more retail coverage, click GlobeSt.com/RETAIL.)

NEW YORK CITY-Madison Capital has taken a partnership interest in the 85,000-sf retail condominium at 1880 Broadway. Once completed, the development will feature four floors and span an entire block front on Broadway between West 61st and West 62nd streets.

Sonnenblick-Goldman served as exclusive advisor to Madison Capital and arranged $80-million in debt and equity for the acquisition. Barclays Capital Real Estate provided the unsecured loan, and the equity investment was provided by Fortress Investment Group.

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