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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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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
  • ◦Development
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