Madison Realty Capital has closed on a $76 million financing package for 85 Flatbush Ave., a 12-story, 177,966-square-foot mixed-use property in Downtown Brooklyn. Financing includes an MRC senior loan and Bluestone Group mezzanine financing. The asset was built in 2016 and features the 176-room Tillary Hotel, ballroom, and an attached 64-unit luxury multifamily building with a separate parking garage.
The following is a selection of media placements for Great Ink clients and a summary of each.
Client
EW Howell Construction Group
Date
September 25, 2019
Camps and Good Causes: On the Scene
summary
ENR New York’s “On the Scene” highlights Benefit for a Friend’s donation of $5,000 to the Mentors Giving Voices Across North Babylon program at the organization’s year-end breakfast June 20. The program is part of the North Babylon School District in North Babylon, N.Y. Benefit for a Friend, founded by several EW Howell employees in 2004, helps local families in need.
Client
Ted Moudis Associates
Date
September 24, 2019
Open Office Design of Today Focuses on Choice and Collaboration
by Valerie Dennis Craven
summary
BUILDINGS talks about the merits and flaws of open office design within the workplace. Jamie Feuerborn, director of workplace strategy at Ted Moudis Associates notes that the open offices that get a bad rap today were designed over a decade ago. Now, the focus is less on densification and more on collaboration. Feuerborn has seen more focus in the past five years on finding a better balance between effective and efficient work environments. Ted Moudis Associates’ 2019 Workplace Report is referenced.
Client
Marx Realty
Date
September 24, 2019
Landlord fetches Park Avenue rents—on Third Avenue
By Daniel Geiger
summary
An article in Crain’s New York Business focuses on Marx Realty’s 10 Grand Central — a building that is garnering Park Avenue rents on Third Avenue. The building at 708 Third Avenue was rebranded and underwent a multimillion-dollar renovation to include hotel-like amenities like a doorman-staffed entrance, a concierge, 7th-floor lounge with an outdoor terrace, and a signature scent to fill the common areas along with a soundtrack. Rental rates that in 2018 were in the $40s PSF have now doubled at the building, and in some instances, even tripled for some of the 430,000-SF building’s best spaces.
Client
Madison Realty Capital
Date
September 24, 2019
New York investor funds Turtle Creek property buy in Dallas
By Steve Brown
summary
Madison Realty Capital, a New York-based investor, provided a $32.5 million loan to JMJ Development to finance the purchase of a 25-story residential and hotel tower at 2999 Turtle Creek Boulevard in Dallas, TX. The property is now occupied by a two-story office building that was built in 2004 to house the offices of the late Dallas real estate developer John Eulich.
Client
Madison Realty Capital
Date
September 23, 2019
Madison Realty Capital Closes $76M for Brooklyn Mixed-Use Property “Familiarity with t
By Mariah Brown
summary
Client
Populous
Date
September 23, 2019
Competitive Gaming Is Moving Offline (Into an Arena Near You)
By Chava Gourarie
summary
Commercial Observer delves into the rise of esports and the facilities that are housing these live events and training gamers around the country. Brian Mirakian, a principal and director of brand activation at Populous, talks about the firm’s design of the first purpose-built arena in the Western Hemisphere, Fusion Arena in Philadelphia.
Date
September 21, 2019
Ted Moudis Associates Releases Project X: A Chicago Story
summary
Ted Moudis Associates, a leading architectural and interior design firm, has released Project X: A Chicago Story, which examines changes in Chicago workplace design over the past ten years and focuses on two main ideas – how the way we work has changed the way space is designed, and how those changes have affected construction and furniture costs. The report’s key finding was that the preconceived office renovation cost of $100/sf is no longer realistic, rather, $130/sf is the new target cost, caused by the increase in headcount capacity and code requirements, among other factors.
Client
Ted Moudis Associates
Date
September 18, 2019
A Gen Z-Er’s Take On Preparing Your Workplace For The Next Generation
by Gabrielle Mastropolo and Kate Wieczorek
summary
In Work Design Magazine, Gabrielle Mastropolo, a summer intern at Ted Moudis Associates and “Gen Z-er,” shares her unique insights about what her generation expects from their employers (and workspaces) and what their employers should expect from them. Kate Wieczorek collaborated with Mastropolo as TMA’s manager of workplace strategy.
Date
September 18, 2019
Madison Realty Capital Lends $24M on Soho Mixed-Use Property
By Cathy Cunningham
summary
Madison Realty Capital has provided a $23.7 million loan to refinance 54 Thompson Street, a seven-story mixed-use building in NYC’s Soho neighborhood. The loan will take out existing debt and be used to finance capital improvements and leasing costs at the 28,164-SF property, which is fully leased by tenants such as Breather, Cheshire Films, Thompson Studios and Pera, a ground-floor restaurant.