Legion Investment obtains $59.5M construction loan ACORE for UES condo project

Victor Sigoura’s Legion Investment Group through the entity 79th Owner LLC as borrower signed a building loan agreement with lender ACORE Capital through the entity Delphi CRE Funding LLC valued at $59.5 million at 109 East 79th Street in the Upper East Side. The deal closed on May 5, 2020 and was recorded on July 1, 2020.
There has been one new building permit application totaling 113,453 square feet. Those plans include a total of 33 residential or hotel units. There has been one demolition project filed for the parcels over the past five years. The demolition included 8 residential units.

This is the building loan on top of the $70.1 million recorded in May 2020 for a project loan and other debt. The last time the property sold was June 11, 2019, for $50,553,225.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 2 renovation/alteration projects (A2) applied for with a total estimated value of $40,000.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link