“Reckless”: Lawsuit accuses Madison Realty of negligence and financial mismanagement at downtown Miami condo-hotel tower
Madison Realty Capital is being accused of financial mismanagement, negligence and more over its handling of a downtown Miami condo-hotel tower, according to a lawsuit. The situation is so dire that the Marquis Miami Condominium Association is asking a judge to appoint a receiver to take over control, the lawsuit alleges. The association is suing New York-based Madison, its affiliates, the former owner’s entities, Think Hospitality and the Marquis Master Association. Think Hospitality manages the hotel component of the property at 1100 Biscayne Boulevard. Madison, led by managing principal and co-founder Josh Zegen, acquired the hotel via a UCC foreclosure […]This article originally appeared on The Real Deal. Click here to read the full story.
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