Victor Sigoura, a prominent real estate developer, has purchased a bankrupt site in West Chelsea for $87.4 million. The site, located at 118-122 10th Avenue, was previously owned by HFZ Capital Group and had been embroiled in legal and financial challenges. Sigoura plans to develop a mixed-use project on the property, which spans approximately 22,000 square feet and includes air rights. The acquisition underscores Sigoura's strategic expansion in Manhattan's competitive real estate market, focusing on prime locations like West Chelsea known for their cultural vibrancy and development potential. His purchase of this distressed site represents a significant investment in revitalizing and enhancing the area's urban landscape with a new and impactful development. Read more on Bisnow.