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.

While no potential tenant information has been revealed, Richard Wagman, principal of Madison Capital, notes that the "size, location and efficiency of the property should attract local and national retailers seeking a presence in the West Side retail market." Madison Capital is a private real estate investment concern based in New York City that focuses on a value-added, opportunistic investment strategy through the acquisition of real estate properties throughout the east coast.

The site is part of 15 Central Park West, a residential condominium being created by Zeckendorf Development. "The truly irreplaceable location of the 1880 Broadway retail condominium, strong sponsorship and exceptional risk-adjusted returns made this a highly sought after investment in both the debt and equity markets," adds Steve Kohn, president of Sonnenblick-Goldman.