Updated Apr 16, 2026
Victor Sigoura's Legion Investment Group Secures $155 Million Loan From Todd L. Boehly In Chelsea
550 West 21st Street
$155,000,000
Units
83
Asset Type
Development Site
Closing
Oct 1, 2025
About this deal
AI
The asset involved in the transaction is a development site located at 550 West 21st Street in Chelsea, Manhattan. It is designated for an 83-unit condo development. The property was previously acquired by Legion Investment Group for $87 million last year.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $155,000,000
- Lender: Todd L. Boehly - Eldridge Real Estate Credit
- Landlord: Victor Sigoura - Legion Investment Group
- Target Delivery: Mid-2027
Todd L. Boehly is representing Eldridge Real Estate Credit in providing financing for the development project, while Victor Sigoura represents Legion Investment Group as the landlord involved in the deal.
On the Map
$155,000,000
Development Site
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Players
New York Development Site Market Snapshot
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93