Victor Sigoura Of Legion Investment Group Purchases Development Site From Samy Mahfar For $12.5M

A development site located at 1497 3rd Avenue in Yorkville, Manhattan was sold for $12,500,000. The property encompasses a total of 25,420 buildable square feet, with the purchase price calculated at $492 per buildable square foot. This site, which contains a 15-unit residential walkup, includes 15,658 square feet of additional air rights, and is intended for ground-up development.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $12,500,000
• Buyer: Victor Sigoura - Legion Investment Group
• Seller: Samy Mahfar - SMA Equities
• Buildable Square Feet: 25,420
• Price per Buildable Square Foot: $492

Victor Sigoura represented Legion Investment Group in the purchase, while Samy Mahfar represented SMA Equities in the sale of the property. This transaction underscores the aspirations for future development in the Yorkville area.