Joshua Zegen

Managing Principal, Co-Founder

Madison Realty Capital

(Silverstone Property Group)

520 Madison Ave Suite 3501New York, NY 10022

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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.

Top Ten Associated Companies:

FTLP LLC (2), Fortis Property Group (2), Apollo Global Management (1), Athene Annuity (1), Athora Holding (1), Conway Capital (1), Joel Zupnick (1), MF1 Capital (1), RB Realty Capital (1), ConnectOne Bank (1)

Top Ten Associated People:

Adam Peldman (2), Joel Kestenbaum (2), Jeffrey Horowitz (1), Sundip Kalley (1), Abe Richard Cohen (1), Joel Zupnick (1), Jonathan Pfeil (1), Avi Matatov (1), Anna Lo (1)

Recent activity as signatory:

• Optimum Asset Management borrowed $81.8 million from Zusatzversorgungskasse des Baugewerbes for None on January 16, 2024.

• Joel Zupnick borrowed $19.5 million from Levon Capital for 147-16 94 Avenue on October 13, 2023.

• Joel Zupnick borrowed $16 million from Madison Realty Capital for 148 street on October 13, 2023.

• Madison Realty Capital borrowed $189 million from MF1 Capital for 46-09 69 Street on September 29, 2023.

• MAG Partners borrowed $145 million from Elliott Investment Management for 247 West 28 Street on June 20, 2023.

• Madison Realty Capital borrowed $5 million from ConnectOne Bank for 688 Broadway, NoHo, Manhattan on May 31, 2023.

• Nahman Lichtenstein borrowed $64 million from Varde Partners for 873 4 Avenue on March 31, 2023.

• Madison Realty Capital sold 350 5 Street for $3 million to Conway Capital on November 18, 2022.

• Madison Realty Capital borrowed $76.9 million from Apollo Global Management, Athene Annuity and Athora Holding for 350 Hicks Street on October 20, 2022.

• FTLP LLC on October 20, 2022 bought a loan with an original principal of an unknown amount from the prior lender, secured by Long is college hospital n skywy, when owned by Madison Realty Capital.

• Fortis Property Group sold Long is college hospital n skywy for $92.1 million to Madison Realty Capital on October 20, 2022.

• Fortis Property Group sold 350 Hicks Street for $53 million to Madison Realty Capital on October 20, 2022.

• FTLP LLC on October 20, 2022 bought a loan with an original principal of an unknown amount from the prior lender, secured by 350 Hicks Street, when owned by Madison Realty Capital.

• Maddd Equities borrowed $27.5 million from Metropolitan Commercial Bank for 3881 9 Avenue on December 10, 2021.

• RB Realty Capital borrowed $115 million from Madison Realty Capital for None on November 17, 2021.

• Madison Realty Capital sold 133-38 Sanford Avenue, Flushing, Queens for $17.6 million to Anna Lo on August 30, 2021.