Only a week into its gross sales launch, Legion Funding Group and Nahla Capital’s Higher East Facet growth snagged the highest spot in Manhattan’s luxurious market.
A condominium at 1122 Madison Avenue, asking $14.6 million, was the priciest of 23 properties within the borough asking $4 million or extra to seek out consumers final week, in response to Olshan Realty’s weekly report. The overall was barely greater than the previous period, which noticed 21 luxurious properties enter contract.
Unit No. 11 North will span 3,200 sq. ft and have 5 bedrooms and 4 loos. Plans for the condominium additionally embody 11-foot ceilings and partial views of Central Park and the Metropolitan Museum of Artwork.
The builders tapped a crew with Corcoran Sunshine Advertising and marketing Group, led by Cathy Franklin, to go gross sales on the undertaking, which is predicted to be accomplished within the fall of 2027. The crew started advertising and marketing items off of flooring plans on Jan. 15 and has to date scored signed contracts for 4 of the 22 condos. All 4 of the consumers look like native.
The constructing’s deliberate facilities embody doormen, a health middle, squash courtroom, plunge pool and billiards room.
The builders nabbed a $195 million loan from Deutsche Financial institution and JVP Administration in August 2024 to finance the development of the undertaking — a $95 million assemblage that the corporations put collectively between 2019 and early 2024.
The second most costly dwelling to land an inked deal was Suite 1 at 240 Riverside Boulevard, with an asking worth of $14.4 million. The 4,700-square-foot condominium spans your entire thirtieth flooring and has 4 bedrooms and 4 loos. It additionally options two terraces, a library and views of the Hudson River.
The unit, which final traded for $15.5 million in 2016, hit the market in November 2023 asking $18 million. Facilities on the constructing, often called the Heritage, embody a health middle, swimming pool, landscaped courtyard and storage.
Nest Seekers’ the Kim Group, led by Andy Kim, had the itemizing.
Of the 23 properties to seek out consumers, 15 have been condos, seven have been co-ops and one was a townhouse.
The properties requested a mixed $190 million, which works out to a mean of $8.3 million and a median of $7.1 million. The standard dwelling was available on the market for greater than a yr and had a reduction of 4 %.
Learn extra
Socialite Shafi Roepers snags deal for UES co-op after 10 years, 50% off
NYC’s top deals: Libra Group founder buys UES condo for $28M
New York developers are going small
