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Madison Realty Capital Takes Title at 364 Bay Street

NEW YORK CITY-After making a multifamily acquisition on Staten Island's North Shore earlier in the year, the firm has purchased an asset in close proximity to the new Ferris wheel and outlet center coming to St. George.

By Jacqueline Hlavenka | Updated on October 21, 2012

NEW YORK CITY-First comes the world’s largest Ferris wheel. Then new multifamily buildings and a 200-room hotel. Now, the retail.

In another sign that Staten Island’s North Shore is becoming the new frontier for investors and developers, Madison Realty Capital has taken ownership through foreclosure proceedings of 364 Bay Street, a stalled 55,000-square-foot, two-story retail center near the St. George waterfront that the firm plans to complete and lease up with new retail tenants, GlobeSt.com has learned exclusively.

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