Toledano Tenants Protest Financial Backers

Toledano Tenants Protest Financial Backers

Published: 
December 2016

A few dozen people, mostly tenants in Raphael Toledano’s East Village buildings, rallied outside Madison Realty Capital’s Midtown headquarters Dec. 6 to protest the firm’s lending him the money he used to buy their buildings. “Since Toledano and his companies purchased their buildings, tenants have grappled with a lack of essential services such as cooking gas, construction that has led to dangerous conditions such as collapsed ceilings, and elevated levels of lead dust in buildings where young children live,” the rally’s organizers said in a statement. The Toledano Tenants Coalition, Stand for Tenant Safety, and other groups are now turning their focus to Toledano’s financial backers “and calling them out for the role they have played in creating these grievances,” they added. The protesters then marched up Third Avenue to Signature Bank, a backer of Madison Realty Capital. Toledano owns 17 buildings in the East Village and Chelsea.