David Speiser

Senior Managing Director

General Counsel

Madison Realty Capital

(Silverstone Property Group)

520 Madison Ave Suite 3501New York, NY 10022

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Madison Realty Capital NYC portfolio

$1.5 billion -elevator 59%, walkup 15%, development 8%; Manhattan 53%, Brooklyn 26%, Queens 20%*

170th largest portfolio by dollar value

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

193th largest by SF

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

153th largest

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

111th largest by residential units

41 foreclosures, 4 bankruptcies, 7 other court cases.

Person Activity past 24 months:

Buyer signatory: 1 for $70 million

Seller signatory: 5 for $134.8 million

Borrower signatory: 4 for $414.2 million

Lender signatory: 5 for $1.3 billion

Top Ten Associated Companies:

Charney Companies (2), Phi 1.618, Inc. (1), Extended Management (1), Deutsche Bank (1), Hello Living (1), Northeast Bank (1), Arthur Gabriel (1), United Construction & Development Group (1), TPG Angelo Gordon (1), Ohana Real Estate Investors (1)

Top Ten Associated People:

Efrem J. Kamen (1), Jason Kimmel (1), Dmitriy Ishimbayev (1), Christopher Harris (1), Mrinal Dansingani (1), Lee E. Buchwald (1), Brian R. Doherty (1), Arthur Gabriel (1), Jiashu Xu (1), Jordan Kolar (1)

Recent activity as signatory:

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

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

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

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

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

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