Victor Sigoura Of Legion Investment Group Acquires Air Rights At 1499 3rd Avenue For $8M
1499 3rd Avenue
$8,000,000
$392/SF
Building Size
20,401 SF
Asset Type
Retail
Closing
Sep 24, 2026
About this deal
AI
The retail asset at 1499 3rd Avenue in Manhattan was sold for $8,000,000. The transaction involved 20,401 square feet of air rights associated with the retail building. The sale price reflects a price per square foot of $392.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $8,000,000
- Square Footage: 20,401
- Price per Square Foot: $392
- Buyer: Victor Sigoura - Legion Investment Group
- Seller: Bruce Neumann - McDonald's Corporation
This transaction was facilitated by Legion Investment Group, which secured the air rights from McDonald's Corporation. The deal reflects a strategic acquisition aimed at leveraging the property's potential in a competitive market.
On the Map
$8,000,000
$392/SF
Retail
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Players
Tall Timbers Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.98%
Cash-on-Cash
-0.57%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93