J
orge Madruga's development plans for East Harlem have undergone significant changes. Initially, he considered building an office complex, then a school, before deciding on apartments. Maddd Equities has filed plans with the city to construct 73 apartments and commercial retail space at 132 East 125th Street. The developer is also seeking approval for medical space. Madruga mentioned that the apartments could include affordable housing units.

    Madruga expects to receive final approvals by mid-2024, after which construction will likely begin. His firm typically partners with Joy Construction Corp. Maddd Equities started assembling parcels in 2020 and secured a $15 million land loan from Metropolitan Bank in 2021. The company also purchased air rights for approximately 17,000 square feet.

    Madruga previously explored office development and even considered building a school, but ultimately decided on apartments. This is the first time he has filed plans with the city for the site. If affordable units are included, Maddd could potentially use the 485-x tax exemption program.