NEW YORK, May 05, 2022 (GLOBE NEWSWIRE) — Madison Realty Capital, a vertically integrated real estate private equity firm focused on debt and equity investment strategies, today announced that it has originated a $43 million loan for the construction of 38 townhomes in Water Mill, New York to JS Squared, a multi-disciplined real estate development company led by James Stanton and Jeffrey Suchman.
Located at 66 Nowedonah Avenue, the property will consist of approximately 103,000 sellable square feet. The townhomes will have modern finishes, appliances, and attached garages as well as access to luxury amenities including a resident pool, and a clubhouse.
Josh Zegen, Managing Principal and Co-Founder of Madison Realty Capital, said, “Water Mill is a community-oriented village in the Hamptons but has very limited land and housing available as a result of its location along a narrow strip of the beach on the Atlantic Ocean. Demand from New Yorkers and others for second homes in the Hamptons only continues to grow and townhomes present a unique opportunity to live in an attractive area. We are pleased to leverage our existing relationship with two highly experienced developers, James Stanton and Jeffrey Suchman, to serve as a single source of financing.”
Jeff Suchman, Principal of JS Squared and President of The Suchman Group, added, “James and I are excited to have the opportunity to develop an elegant, amenity filled townhouse community in the thriving hamlet of Water Mill centrally located in the Hamptons. The response has been overwhelmingly positive, and we look forward to completing this development.”
About Madison Realty Capital
Madison Realty Capital is a vertically integrated real estate private equity firm that, as of March 31, 2022, manages approximately $8.5 billion in total assets on behalf of a global institutional investor base. Since 2004, Madison Realty Capital has completed approximately $20 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 approximately 70 employees across all real estate investment, development, and property management disciplines. Madison Realty Capital has been frequently named to the Commercial Observer’s prestigious “Power 100” list of New York City real estate players and is consistently cited as a top construction lender, among other industry recognitions. To learn more, follow us on LinkedIn and visit www.madisonrealtycapital.com.
Media inquiries, contact:
Nathaniel Garnick/Grace Cartwright
Gasthalter & Co.
(212) 257-4170
madisonrealty@gasthalter.com
