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Victor Sigoura's Legion Investment Group Secures $155 Million Loan From Todd L. Boehly In Chelsea
FINANCED
New York
See Similar DealsDevelopment Site
Financed 10/01/2025
FINANCED
Victor Sigoura's Legion Investment Group Secures $155 Million Loan From Todd L. Boehly In Chelsea
550 West 21st Street
See Similar DealsDevelopment Site
Financed 10/01/2025
Summary
NEW YORK
Asset Type:Development Site
Transaction Type:Loan
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.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$155,000,000.00
Monthly NOI$1,033,333.33
Monthly Debt Service$979,705.44
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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