News January 18, 2021
Madison Realty Capital Lends $53M on Toby Moskovits’ Brooklyn Multifamily Development
Commercial Observer reports that Madison Realty Capital has extended $53 million in construction financing to Toby Moskovits’ Heritage Equity Partners for a forthcoming multifamily development in Brooklyn’s Sunset Park. Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, says that the loan “will bring vital new housing options to this vibrant and growing neighborhood,” which is currently seeing an influx of tech and creative jobs while lacking attractive housing options. Known for its series of successful debt funds, Madison Realty Capital’s focus on multifamily developments like this latest Sunset Park project gives it an edge in the current market thanks to the sector’s relative stability.