Madison Realty Capital

(Silverstone Property Group)

Owner, Lender, Developer

Private Equity

520 Madison Ave Suite 3501New York, NY 10022

People:

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Madison Realty Capital NYC portfolio

$1.4 billion -elevator 58%, walkup 15%, development 8%; Manhattan 55%, Brooklyn 27%, Queens 17%*

147th largest portfolio by dollar value

2,642,128 sqft – elevator 68%, walkup 11%, condo 10%; Queens 42%, Manhattan 30%, Brooklyn 26%

180th largest by SF

62 properties – Manhattan 55%, Brooklyn 32%, Queens 12%

131th largest

2,973 residential units – Manhattan 34%, Brooklyn 34%, Queens 30%

97th largest by residential units

39 foreclosures, 4 bankruptcies, 7 other court cases.

Notes

Madison Realty Capital is an institutionally backed real estate private equity firm focused on real estate equity and debt investments. Prior to 2014 it owned equity stakes in assets through the wholly owned brand Silverstone Property Group.

Company Activity past 24 months:

Buyer company: 3 for $100.6 million

Seller company: 12 for $211.4 million

Borrower company: 8 for $430.2 million

Lender company: 14 for $2.7 billion

Top Ten Associated Companies:

ConnectOne Bank (4), Signature Bank (4), Community Preservation Corporation (2), Apollo Global Management (2), G4 Capital Partners (2), FTLP LLC (2), Maxim Capital Group (2), RWN Management (2), City Urban Realty (1), Wachtel Missry registered (1)

Top Ten Associated People:

Robert Riggs (2), Jeffrey Horowitz (2), Jason Behfarin (2), Adam Peldman (2), Michael Alvandi (1), Alice M. Layne (1), Brian R. Doherty (1), Arthur Gabriel (1), Abe Richard Cohen (1), Jiashu Xu (1)

Recent activity as company:

• A. Williams Construction borrowed $38.5 million from Madison Realty Capital for None on July 30, 2026.

New Empire Corp. borrowed $52.2 million from Madison Realty Capital for 23 Lenox Road on June 18, 2026.

Yellowstone Real Estate Investments borrowed $384 million from Madison Realty Capital for 1750 Broadway on June 16, 2026.

Madison Realty Capital borrowed $104.8 million from Community Preservation Corporation and Related Companies for 62-60 99 Street on June 11, 2026.

Charney Companies borrowed $81.8 million from Madison Realty Capital for 97 Rockwell Place on June 05, 2026.

Madison Realty Capital sold 350 Hicks Street for $33.2 million to Sunlight Development on February 18, 2026.

Joyland Management borrowed $30 million from Levon Capital for 155 Broadway on January 21, 2026.

Madison Realty Capital sold 155 Broadway for $30 million to Joyland Management on January 21, 2026.

RJ Capital Holdings borrowed $90 million from Madison Realty Capital for 113-16 70 Road on December 19, 2025.

Ian Schrager and Witkoff Group borrowed $173.2 million from JPMorgan Chase for 215 Chrystie Street, Lower East Side, Manhattan on December 17, 2025.

Madison Realty Capital borrowed $179.2 million from TPG Angelo Gordon for 24 Clay Street on November 25, 2025.

Madison Realty Capital sold 41-80 Main Street for $64.2 million to United Construction & Development Group on November 18, 2025.

Hawkins Way Capital and Varde Partners borrowed $166.5 million from Goldman Sachs and Wells Fargo for 525 Lexington Avenue, 525 Lexington Avenue, 525 Lexington Avenue, 525 Lexington Avenue, 525 Lexington Avenue, and others, Midtown East, Manhattan on November 14, 2025.

Madison Realty Capital sold 392 Clinton Avenue for $4.7 million to Arthur Gabriel on October 10, 2025.

Madison Realty Capital borrowed $25.2 million from Northeast Bank for 2902 Albemarle Road on October 06, 2025.

Hello Living sold 2902 Albemarle Road for $70 million to Madison Realty Capital on October 06, 2025.

• Wachtel Missry registered on October 01, 2025 bought a loan with an original principal of $5.8 million from Blackstone Group, signed by Albert Picallo, secured by 392 Clinton Avenue, when owned by Madison Realty Capital.

Madison Realty Capital, SK Development and CB Developers sold 186 Spring Street for $5.6 million to City Urban Realty on September 19, 2025.

Madison Realty Capital sold 4458 Broadway for $15.3 million to Three Pillars on September 04, 2025.

Madison Realty Capital borrowed $105 million from Deutsche Bank for 16 5 Avenue on August 26, 2025.

Latest Stories:

• Columbia pays $122M to Charney, Criterion Real Estate, for dorm in Morningside Heights (July 30, 2026)

• New Empire Corp. signs $52.2M construction loan with Madison for 131-unit condo in Flatbush (July 09, 2026)

• Delshah Capital pays $127.8M for 3 buildings, 140 units in Williamsburg (July 01, 2026)

• Yellowstone signs $384M senior construction loan with Madison for 422-unit conversion in Midtown West (June 29, 2026)

• Madison Realty Capital signs $104.8M refi for 419-unit rental in Rego Park (June 23, 2026)

• David Tabak, Borough Developers sign $23.5M loan for 99-unit Williamsburg project (June 10, 2026)

• Rabsky Group signs $765M refi for 1,102-unit complex in Fort Greene, as previously reported (April 20, 2026)

• MAG Partners signs $149M refi loan with Sumitomo Mitsui Banking for 480-unit rental in Chelsea (March 23, 2026)

• Sunlight Development pays $33.2M to Madison Realty for dev site in Cobble Hill (March 06, 2026)

• Joyland pays $30M to Madison Realty for dev site in Williamsburg, signs lease with Watermark Capital (January 29, 2026)

Court Records:

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Properties:

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