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MADISON REALTY CAPITAL UPSIZES BED-STUY CONDO CONSTRUCTION LOAN BY $100M
COMMERCIAL OBSERVER, JUNE 28, 2018

Madison Realty Capital has doubled down on the Cascade condominium project in Brooklyn’s Bedford Stuyvesant neighborhood just as the first units in the development are going under contract. MRC first became involved in the project when they acquired an existing loan in 2017. MRC’s Josh Zegen says that the firm’s expertise as lenders, developers, and New York property managers enabled him and his partners to quickly close the deal and increase funding to help finish construction of the project’s first phase. After the success of the initial round of funding, MRC is lending an additional $100 million to finish the project’s second phase, which is slated for completion in 2020.

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