Legion Investment Group and Nahla Capital said Thursday that vertical construction is underway at 1122 Madison Ave., a new condominium development on Manhattan’s Upper East Side. Designed by Studio Sofield, the 22-story residential building rises a block from Central Park and The Metropolitan Museum of Art, and near the many other renowned cultural institutions that line Museum Mile.
“The start of superstructure at 1122 Madison Ave. is an important milestone for Legion Investment Group,” said Victor Sigoura, founder and CEO. “With each slab pour, we come closer to revealing the project’s full architectural form and introducing a distinguished new landmark on the Upper East Side.”
Sales are expected to launch this fall, led by Corcoran Sunshine Marketing Group and The Cathy Franklin Team at The Corcoran Group. The project’s 26 residences will begin at $10 million, and the building is slated for completion in mid-2027.
The development team behind One Beverly Hills (1BH) said construction on the $10-billion luxury mixed-use project is proceeding ahead of schedule. The Beverly Hilton expansion structure topped out approximately 10 weeks ahead of schedule and one of the residential towers is progressing six weeks ahead. “This was accomplished while significant operations were maintained at The...
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Northwind Group has originated a $231-million first mortgage construction loan for 675 Third Ave., a 32-story, 337,000-square-foot office building in Manhattan’s Midtown East neighborhood that is slated for conversion into residential apartments. The conversion is being led by a joint venture between Nathan Berman’s Metro Loft Management and David Werner Real Estate Investments. Loan proceeds...
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Rental housing affordability declined in 82% of U.S. metropolitan areas between 2014 and 2023, with renters experiencing the equivalent of an average $256 annual reduction in income after accounting for changes in housing quality. That’s according to a new report released Tuesday by the Mortgage Bankers Association’s Research Institute for Housing America. The report, Housing...
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