NEW YORK CITY-Locally-based investment firm Madison Capital has reportedly acquired retail properties on the Upper West Side and in Hell's Kitchen from Westbrook Partners for $130 million.
Last Thursday, HFZ Capital Group closed on the purchase of the Astor, Metro, and two other apartment buildings from Westbrook for approximately $610 million. However HFZ arranged at closing that the retail portion of the Astor (19,000 square feet) and Metro (16,000 square feet) be transferred to Madison Capital, according to The Real Deal.
The brokerage team of Douglas Harmon and Adam Spies at Eastdil Secured brokered both Westbrook's sale to HFZ and the retail sale to Madison, according to the newspaper. See story in The Real Deal.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
