3600 Broadway


New York, NY

Acquisition Date:

September 2010


104,619 square feet consisting of 151 Residential Apartments and 13 Retail Units (portfolio)

Asset Type:

Mixed Use


In September 2010, Madison acquired three defaulted mortgage loans secured by a portfolio of four mixed-use assets in the evolving Washington Heights neighborhood of Upper Manhattan. In April 2011, Madison secured the deeds to the three Broadway properties by negotiating a consensual, prepackaged bankruptcy with the mortgage borrower. Madison commenced a repositioning strategy of the Broadway properties which included the combining and releasing of vacant retail units, capital investment, and the renovation and releasing of residential apartments.