Morgenstern Capital, in a joint venture with TLM Equities, has closed on the acquisition of Madison Park Tower in Manhattan’s Murray Hill neighborhood. The duo paid $80 million for the 36 story, 110 unit tower located at 49 E. 34th St. Built in 2007, the asset was converted from a hotel in 2009 and currently features 5 studios, 75 one-bedroom and 30 two-bedroom units overlooking the Empire State Building, East River and the Manhattan skyline. The deal was finalized with a $65 million mortgage provided by an affiliate of Square Mile Capital Management.
