Thompson Street
New York, NY

Name: Madison Realty Capital
Telephone: 646.472.1900

Investment Type: Loan Origination
Property Description: Mixed-Use Redevelopment
Loan Amount: $32.5MM

MRC originated a $32.5MM first mortgage loan collateralized by two adjacent mixed-use buildings totaling 36,000 SF located in the SoHo neighborhood of Manhattan, New York.
The property is comprised of two adjacent six-story buildings with 72 residential units and 6 ground floor retail units, and the borrower planned on renovating the buildings.
As part of the renovation program, the borrower installed elevators in each building, renovated and reconfigured residential units to include high-end finishes, and expanded the retail space across the two buildings.
The borrower completed the renovations, received a Certificate of Occupancy, and refinanced MRC’s loan.

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