Legion Funding Group and Nahla Capital’s Higher East Facet growth snagged the 2 priciest offers inked in Manhattan final week.
The condos at 1122 Madison Avenue topped a busy interval for the borough’s luxurious market, the place consumers signed 31 contracts for properties asking $4 million or extra between Feb. 9 and Feb. 15, in keeping with Olshan Realty’s report. The entire adopted another banner week, throughout which 36 luxurious Manhattan houses entered contract, together with 13 properties asking $10 million or extra.
The costliest unit to land an inked deal was the 18th ground of the 26-unit growth, which had an asking value of $39 million. The residence spans 5,300 sq. ft and has 5 bedrooms and 5 bogs. It additionally options two balconies, 11-foot ceilings and views of Central Park.
The constructing’s sixteenth ground, asking $36.5 million, snagged the No. 2 spot within the report. The unit’s structure is much like the 18th ground, although its two balconies complete greater than 170 sq. ft as an alternative of 150 sq. ft.
The builders launched gross sales on the constructing final month with a staff from Corcoran Sunshine Advertising Group, led by Cathy Franklin, and have already discovered consumers for 16 condos. Only a week into promoting, the event nabbed the top spot in Olshan’s weekly report when a purchaser signed a contract to buy Unit 11 North, which was asking slightly below $15 million.
Legion and Nahla shelled out $95 million between 2019 and early 2024 to assemble six parcels for the event website. The duo scored $195 million in development financing from Deutsche Financial institution JVP Administration in August 2024.
The constructing’s deliberate facilities embrace a health heart with a squash courtroom, chilly plunge pool and sauna, in addition to a bar, media room and billiards room. Building is anticipated to be accomplished within the fall of 2027.
The 1122 Madison condos aren’t Legion’s first rodeo on the Higher East Facet. The agency additionally developed 109 East 79th Avenue, which marked its founder and CEO Victor Sigoura’s first major Manhattan project after he left his govt publish at Naftali Group in 2016. A penthouse on the growth bought to funding banker Joseph Rallo and his spouse, Ashley, for $25 million in 2023.
Down in Miami Seaside, Nahla, led by Genghis Hadi, paid $270 million to purchase the Raleigh Rosewood Residences from its former growth staff led by Michael Shvo. Its different New York-based tasks have included 221 West 77th Avenue and 152 Elizabeth Avenue. The agency just lately accomplished The Rosewood Residences Beverly Hills.
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