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
Avison Young
Date
September 2019
History Rising
By Joshua Burd
summary
The September 2019 issue of Real Estate New Jersey follows the renovation of the Nelson Glass Building in Downtown Princeton, NJ as it is transformed into a boutique apartment building. Avison Young’s George Gnad secured a $4 million construction loan for the project. Robbie Nelson, daughter of the building’s original builder/owner, will add three floors and six residential units on the top of the existing local landmark.
Client
Waterton
Date
September 25, 2019
Waterton Hires Stella Pappas as VP of investor relations
summary
Stella Pappas has joined Waterton as VP of investor relations in Chicago. With more than 15 years of real estate investment, acquisition and asset management experience, she will help manage the firm’s investor and consultant relations and develop new multifamily, seniors and hotel client relationships. Pappas was formerly a director, capital markets at Holliday Fenoglio Fowler, L.P. where she was responsible for originating, structuring and closing equity and debt placement transactions nationwide.
Client
Kalmon Dolgin Affiliates
Date
September 25, 2019
Brewery property sells for $22M
By David Winzelberg
summary
A Kalmon Dolgin Affiliates team arranged the sale of 225 West Main Street in Patchogue, the building that houses the new Blue Point Brewery. Bud and Brewery LLC, an entity controlled by the Dolgin family purchased the 108,000-SF building for approximately $22M. The building has had several lives prior to the Blue Point Brewery, including a fabric and lace mill, Swezey Department Store and Briarcliffe College.
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.