Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEW YORK CITY—Madison Realty Capital has approved a $23.7-million loan to borrower Empire Realty Management to refinance 54 Thompson St., a mix-used seven-story property in Manhattan’s SoHo submarket. Loan proceeds will fund tenant improvements, leasing and loan closing costs.

Madison Realty’s $1.1-billion MRC Debt Fund IV, its newest and latest, originated the loan for the 100% occupied property. The transaction was a no-brainer deal, says  Josh Zegen, co-founder and managing principal, in a prepared statement.  Perched by its location in an amenity and transportation-rich submarket, the building has a strong tenant roster.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Mariah Brown

Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.

More from this author

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.