Upper East Side Condo Project Reaches 85% Sold in Less Than Three Months
Legion Investment Group and Nahla Capital announced that 1122 Madison Avenue is 85% sold. Since launching sales in mid-January, 22 of the building’s 26 condominium residences have entered contract, representing more than $400 million in total sales, including the record-breaking $89.5-million penthouse, reportedly an Upper East Side record that achieved the highest price and price per square foot ever for a condo in the neighborhood.
At 85% sold, the building has the highest number of sales over $10 million and over $4,500 per square foot for any Upper East Side new development north of 62nd Street, the developers said.
“Reaching 85% sold so early in the sales cycle speaks to the building’s strength in the market,” said Victor Sigoura, founder and CEO of Legion Investment Group. “Overwhelming buyer demand has confirmed our vision for a design-led, highly curated residential offering, and we look forward to building on this momentum as construction progresses and we prepare for closings.”
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout