Only One Man Is Willing to Save One Madison Park


Mid-level developer Zeil Feldman says he’s willing to pay the $165 million price tag for the cursed (and some say doomed) empty glass tower on 23rd Street. But even though Feldman — a relative unknown in real estate circles — has experience with distressed properties, he’s got to present a plan on how he’ll turn the property around before the bank will let him in. No one else has managed to do that yet, and he only has about two weeks left to present the plan to a bankruptcy court. Will the lights ever turn on in the Flatiron’s dark tower?

Ziel Feldman’s Glass Chance: Clinging to One Madison [Observer]