News November 15, 2019

Madison Realty Capital finances office development in Manhattan's East Village

Madison Realty Capital will provide a senior loan and their nationwide lending expertise for a 10-story boutique office development in New York City’s East Village, working with South Korean lending powerhouse Hana Financial Group to bring the project to life. MRC, which is known for its successful debt funds, will provide $48 million as well as local guidance on the project, while Hana will provide the remaining $31.1 million mezzanine financing to fully fund the project. “Our intimate knowledge of the national lending landscape allows us to partner with global financial institutions deploying capital into the U.S.,” said Josh Zegen, MRC’s Managing Principal and Co-Founder. “We provide our expertise in complex structuring, due diligence and quick execution, in addition to on-going servicing and asset management.”

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