HFF has arranged $150 million in financing for the Madison Belvedere, a 50-story, 404-unit, Class A apartment building near Madison Square Park. The company worked exclusively on behalf of a pension fund advised by Invesco to secure the loan through Cornerstone Real Estate Advisers.
The HFF team was led by managing directors John Rose and Steven Klein.
The Madison Belvedere is located at 10 East 29th Street, three blocks north of Madison Square Park.
Invesco purchased the property from Rose Associates on behalf of a client last year for a reported $300 million. Rose built the tower in 1998 for $105 million after buying the site for $15 million from the Sisters of Mary Reparatrix.
