The Excelsior

Madison Equities is a real estate development company respected for its creativity and commitment to innovation through design and forward thinking. Founded by Kenneth and Lucille Gladstone in the mid-1960s, the company is known for its development of high end residential, office, hotel, and mixed-use properties in Manhattan. In its second generation of family ownership, the Company is now led by Robert Gladstone who joined the business in 1972 and assumed the helm in 1992. In December 2009, Tony Labozzetta joined Madison Equities as its president. Tony oversees the Company’s daily operations and is responsible for all aspects of project finance and deal structuring. Prior to joining Madison Equities, he ran the boutique real estate investment bank Wall Street Realty Capital, which he acquired from Cantor Fitzgerald after overseeing Cantor’s Institutional Property Group for 9 years. Michael Holloway, formerly the president of Gotham Construction, heads all the company’s construction activities. Michael has also had senior executive positions at Bovis and Plaza Construction. Andrew Harris, a fifteen year veteran of Madison Equities, specializes in hotel design and operations and also coordinates project design and marketing for residential projects.

Madison Equities is a standout in its field because of its expertise across all aspects of real estate development including site selection, assemblage and possession, financing, zoning and permitting, contract negotiation, and innovative design.

The company’s first major project was The Excelsior, a 47 story tower on East 57th Street designed by architect Philip Birnbaum. The Excelsior features 371 luxury apartments atop a 200,000 square foot commercial base and garage. At the time of its completion in 1965, The Excelsior was the tallest reinforced concrete residential property in New York City. The tower is notable in New York City real estate history because it was the first truly mixed-use building in the city.

Continuing to creatively approach mixed-use development, Madison Equities completed The Galleria on East 57th in 1975. The tower, designed by architects David Kenneth Spector and Philip Birnbaum, combined 252 luxury apartments with 150,000 square feet of commercial space and a parking garage. The Galleria’s 57 stories made it one of New York’s, and the nations’, tallest residential buildings at the time.

These represent a selection of Madison Equities’ earlier projects from their extensive development portfolio. As a leader in the New York real estate development industry, Madison Equities is responsible for the development of many of Manhattan’s best known, award-winning properties. For more information, please visit: