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NEW YORK CITY — Madison Realty Capital has purchased the note and deed of 385 Union Ave., a 53,000-square-foot apartment property in Williamsburg, Brooklyn for $21.5 million.The property is 97 percent occupied and includes 47 apartments, 24 parking spaces and a gym. The seller of the loan was a bank, which had taken over the original failed lender on the project through an FDIC loss-share deal. The original owner had defaulted on it construction financing in 2009 and the property was placed in receivership after the original lender filed a foreclosure auction. Madison plans to stabilize the property and enhance its value.