Jorge Madruga of Maddd Equities plans to build 73 apartments, retail, and medical space at 132 East 125th Street in East Harlem. Initially considering office or school development, Madruga pivoted after a deal with NYC’s School Construction Authority fell through. Maddd acquired the site and adjacent parcels for 25.75 m and secured a $15 m land loan in 2021. The 100,000-square-foot project includes 17,000 square feet of purchased air rights. Final approvals are expected next year, with construction to follow. The development may include affordable housing, potentially qualifying for the 485-x tax exemption. Maddd often partners with Joy Construction.
Jorge Madruga
