Nahla Capital And Legion Investment Group Acquire Mixed-Use Development Site In Upper East Side For $3.75M

The mixed-use development site located at 22 East 84th Street in the Upper East Side has been sold for a price of $3,750,000. The property sits on a 12 ft x 67.17 ft lot and has a total square footage of 2,587. The price per square foot is $1,449. The buyer of the property is Nahla Capital, represented by Genghis Hadi, and Legion Investment Group, represented by Victor Sigoura. The sellers of the property are The Estate of Moon Hee Kim, Sung Woo Kim, Yong Woo Rim, and Joseph Rim.

Summary of transaction details

• Property Type: Mixed-use/Dev. Site
• Transaction Amount: $3,750,000
• Market: Upper East Side
• Address: 22 East 84th Street
• Zoning: C5-1, MP
• Buyer: Nahla Capital - Genghis Hadi & Legion Investment Group - Victor Sigoura
• Seller: The Estate of Moon Hee Kim & Sung Woo Kim, Yong Woo Rim & Joseph Rim
• Lot Size: 12 ft x 67.17 ft

With this acquisition, Nahla Capital has expanded their assemblage by purchasing an additional lot. This purchase complements their previous acquisitions of two adjacent properties in 2019 for a total of $32.5 million. The assemblage now provides a development site with a total buildable square footage of 42,000. The first property, located at 1122 Madison, was purchased from Thor Equities for $22.5 million. The second property, located at 24 East 84th Street, was acquired from Frank Levy for $10 million.