Taps New York Real Estate Firm MNS to Handle Leasing and Marketing of Woodside Central’s 183-Unit Tower on 70th Street
Mixed-Income Residential Towers Are Part of Mixed-Use Development That Will Include A New Public School, PS Q340
NEW YORK, April 18, 2023 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm and developer, today announced that it has launched leasing for the first of two towers at Woodside Central, a 478-unit residential property located at 46-09 69th Street and 46-10 70th Street in Woodside, Queens. In connection with the launch of leasing at the 183-unit 70th Street tower, Madison Realty Capital has tapped MNS Real Estate (“MNS”), a Brooklyn-based real estate company specializing in the marketing, sale, and rental of residential properties, to handle leasing and marketing for Woodside Central. MNS is anticipated to launch leasing of the second tower at 46-09 69th Street in the second quarter of 2023.
Woodside Central’s two residential towers are part of a new, mixed-use development on Queens Boulevard that will include mixed-income apartments, retail facilities, and public outdoor space, including a pedestrian and recreational walkway connecting 47th Avenue with 69th Street. The project also includes construction of a new public school, PS Q340, which is anticipated to open in September 2025, as part of a public-private partnership between Madison Realty Capital and the New York City School Construction Authority and Department of Education.
“We are very excited to announce the launch of leasing for Woodside Central as we continue to make progress on this much-needed development on Queens Boulevard that serves as a prime example of the benefits public-private partnerships can deliver to New York City communities,” said Zachary Kadden, Managing Director of Development at Madison Realty Capital. “In addition to beginning the construction of a state-of-the-art elementary school, we are pleased to be able to provide high-quality affordable housing to the vibrant Woodside community at a time when building affordable housing options is more critical than ever for New Yorkers. Offering exciting new restaurants, shops and accessible public transportation to Manhattan, Woodside has evolved into a primary destination for New Yorkers to live, work, and play and we are proud to deliver attractive new rental options at Woodside Central as the neighborhood continues to grow.”
Woodside Central will offer studio, one- and two-bedroom luxury rentals ranging in size from 430 square feet to 1,030 square feet with western views of Manhattan from both towers and amenities including a fitness center, laundry room, parking, bike storage, lounge, business center, and roof deck. Of the 478 residential units, 30% will be affordably priced pursuant to the City’s Mandatory Inclusionary Housing. Designed by AKM Architects, Woodside Central’s units will feature oversized windows, desert sand wood flooring, custom whitewash kitchen cabinetry, quartz countertops, a Blomberg Kitchen Appliance Package, in-unit washer/dryers, matte black bathroom fixtures, a three-piece rain shower, a custom oak bathroom vanity, and individually controlled heating & cooling systems.
“Our team is thrilled to serve as the exclusive leasing and marketing firm, and to work alongside Madison Realty Capital, to bring this new luxury building to the market,” said Andrew Barrocas, CEO of MNS. “As Woodside Central is one of the first fully-amenitized buildings in the area, we are confident that the units will enjoy similar absorption rates to other products we’ve recently brought to market.”
For more information, please visit Woodside Central’s website at https://www.woodside-central.com/.
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of December 31, 2022, manages approximately $10 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $22 billion in transactions providing borrowers with flexible and highly customized financing solutions, strong underwriting capabilities, and certainty of execution. Headquartered in New York City, with an office in Los Angeles, the firm has more than 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been named to Commercial Observer’s prestigious “Power 100” list of New York City real estate players every year since 2016 and was recognized In March 2023 by PERE as the Debt Firm of the Year, North America for Fiscal Year 2022. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.
About MNS Real Estate
MNS is an innovative real estate brokerage specializing in the marketing, sale and rental of residential properties. To increase impact, we seamlessly integrate marketing, sales, and technology to produce the most efficient sales possible at the highest market-driven prices. Our services reflect our unique position as trendsetters, innovators, and shapers of the market. We focus on relationships rather than transactions, offering clients and customers an unsurpassed level of personalized service. For more information, please visit www.mns.com.
Madison Realty Capital Contact:
Nathaniel Garnick/Grace Cartwright
Madison Realty Capital
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