Yitzchak Tessler's Last Stand: 172 Madison Condo Developer Left Out of Party

Yitzchak Tessler, the developer behind the controversial 172 Madison condo building, was not among the invited guests at a recent party held on the building's penthouse roof.

The party, held on a balmy June night, featured a DJ booth set up in the hot tub and attendees enjoying the sunset. As the night went on, guests took turns singing karaoke into the microphone. However, Tessler was not on the guest list, despite his decade-long efforts to sell out the building.

Among the guests in attendance was David Gordon, managing partner of ArcPe, who was dressed in a casual white sneakers, chinos, and a blue blazer over a black t-shirt. Gordon's firm is currently in the process of foreclosing on the building's 12 unsold units.

The snub at the party was seen as a final blow to Tessler's dream of successfully selling out the building, as he continues to face legal and financial challenges. Despite his absence, the partygoers seemed to revel in the irony of the situation.

"It's like a scene out of a movie," remarked one guest, who asked to remain anonymous. "The developer who couldn't sell his own building is left out of the party celebrating its success. It's almost too perfect."

Originally reported by The Real Deal.

https://therealdeal.com/magazine/september-2025/yitzchak-tessler-172-madison-developer-last-stand/