Madison Equities has closed on a $56 million refinance for its 84-story condominium tower project at 45 Broad Street in New York’s Financial District. The instrument was procured from HSBC Bank and replaces a $55 million loan previously provided by Mack Real Estate Strategies. The 206 project is being developed in conjunction with Italian real estate company Pizzarotti Group. Last year, one of China’s largest developers, Gemdale Properties and Investment, paid $69.9 million for an 81.3 percent stake in the project.
