Joshua Zegen
Managing Principal, Co-Founder
Madison Realty Capital
(Silverstone Property Group)
520 Madison Ave Suite 3501New York, NY 10022
Madison Realty Capital NYC portfolio
$1.5 billion -elevator 59%, walkup 15%, development 8%; Manhattan 53%, Brooklyn 26%, Queens 20%*
145th largest portfolio by dollar value
2,642,128 sqft – elevator 68%, walkup 11%, condo 10%; Queens 42%, Manhattan 30%, Brooklyn 26%
179th largest by SF
62 properties – Manhattan 55%, Brooklyn 32%, Queens 12%
138th largest
2,841 residential units – Brooklyn 36%, Manhattan 31%, Queens 31%
106th largest by residential units
41 foreclosures, 4 bankruptcies, 7 other court cases.
Top Ten Associated Companies:
Fortis Property Group (2), FTLP LLC (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:
Joel Kestenbaum (2), Adam Peldman (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.
• Fortis Property Group sold 350 Hicks Street for $53 million to Madison Realty Capital on October 20, 2022.
Latest Stories:
• Sunlight Development pays $33.2M to Madison Realty for dev site in Cobble Hill (March 06, 2026)
• Moshe Braver signs $155M refi with Arbor for 521-unit dev site in Jamaica (March 14, 2025)
• William Rothner signs $66M refi for new 150-unit rental in Greenwood Heights (November 26, 2024)
• Rockrose pays $65M to Madison Realty for dev site in Cobble Hill (September 03, 2024)