Madison Realty Capital Provides $106M Construction Loan for NYC Mixed-Use Project

by Taylor Williams

NEW YORK CITY — Locally based real estate private equity firm Madison Realty Capital has provided a $106 million construction loan for Myrtle Point, a mixed-use project that will be located along the Brooklyn-Queens border. Designed by S9 Architecture, the 17-story building will house 130,000 square feet of commercial space that is preleased to two big box retailers and 133 residential units, 30 percent of which will be designated as affordable housing. The borrower was a partnership between developers Arch Cos. and AB Capstone. A tentative completion date was not disclosed.

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