Adellco Secures $95M Construction Loan For Luxury Condo Conversion On Madison Ave

1295 Madison Avenue, New York City, New York 10128, United States

$95,000,000

$15,161/SF

Building Size

6,266 SF

Asset Type

Mixed-use

Closing

Jun 15, 2022

AI

The property at 1295 Madison Ave. in Manhattan has been involved in a recent closed transaction. This mixed-use property consists of 23 units and is located in a prime market area.

Summary of transaction details

Property Type: Mixed-use
Transaction Amount: $95,000,000
Address: 1295 Madison Ave.
Market: Manhattan
Units: 23

G4 Capital Partners, represented by Jason Behfarin, Robyn Sorid, Robert Palumbo, and Chris Goetz, provided the construction loan for the conversion of the Wales Hotel into luxury condominiums with commercial space available on the ground floor. Adellco, led by Matthew Adell, acted as the landlord in this transaction. The brokerage services were provided by Tal Bar-Or and David Strongwater from Lantern Real Estate Advisors.

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