Legion Group Acquires Multifamily Property In New York City For $62M

The estate of the late Richard Feigen, Edward Grombacher, and Ilona Swaring recently sold three properties located at 113, 115, and 117 East 79th Street in New York City. The properties are situated between 79th Street and Park Avenue and are part of a ground-up residential condominum project. With a total of 72,000 square feet, the multifamily asset was acquired by Legion Group, represented by Victor Sigoura and Gindi Capital, for a total amount of $62,000,000.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $62,000,000
• Address: 113, 115, and 117 East 79th Street, New York City
• City: New York
• Streets: 79th Street and Park Avenue
• Plans: Ground-up Residential Condo Project

The sale of these properties was facilitated by the brokerage firm, Kassin Sabbagh Realty, specifically by Ceasar Salama and Joseph Ash, who represented both the seller and the buyer. The deal also included additional costs such as land, hard costs, soft costs, and interest carry or contingency, which brought the approximate price-per-square-foot to $1,500.