Legion, Nahla Capital’s UES Luxury Project Nears Sellout

Legion Investment Group and Nahla Capital found a buyer for a $40.5 million unit at 1122 Madison Avenue, as the project nears sellout.

The 19th floor at the Upper East Side development was the priciest of 26 properties in Manhattan asking $4 million or more to nab signed contracts last week, according to Olshan Realty’s weekly report. The total was up from 21 pending deals logged in the previous period.

The 5,300-square-foot condo has five bedrooms, five bathrooms and two balconies. It was one of 24 at the 26-unit building to land an inked deal since sales launched in January, including its nearly $90 million penthouse, which entered contract in February. The pending deals have an average asking price of roughly $5,400 per square foot.  

Just two units remain at the 22-story building, both with asking prices just under $39 million. The developers expect to complete construction in the fall of 2027, with planned amenities including a fitness center, squash court and cold plunge pool. 

A team with Corcoran Sunshine Development Marketing, led by Cathy Franklin, is heading sales at the project. 

The second most expensive home to snag an inked deal was a duplex condo at 150 West 12th Street, with an asking price just under $19 million. The apartment, which last traded for roughly $12 million in 2022, hit the market earlier this year asking close to $20 million. 

Unit 3West spans 4,200 square feet and has five bedrooms and five bathrooms. It also features a 45-foot great room and a landscaped terrace overlooking West 12th Street. 

The condo is part of a complex, including over 190 apartments and five townhouses, known as the Greenwich Lane. Amenities at the project, developed by the Rudin family and Global Holdings, include doormen, parking, a fitness center and pool. 

Compass’ Rachel Glazer had the listing. 

Of the 26 properties to find buyers, 19 were condos, four were co-ops, 1 was a condop and two were townhouses. 

The homes were priced at a combined $228 million, which works out to an average of $8.8 million and a median of $7.4 million. The typical home was on the market for more than a year and was discounted by 2 percent.

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