Madison Realty Capital has moved to foreclose on one of Raphael Toledanoâs major East Village portfolios, sources told The Real Deal, less than 18 months after Toledano pulled off the audacious and heavily leveraged acquisition. Just three days before Madison filed to foreclose on the buildings, sources said Joseph Sutton, son of retail mogul Jeff Sutton, signed a hard contract to buy the buildings from Toledano for about $145 million.