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ictor Sigoura and Legion Investment Group are reviving a stalled condo project in West Chelsea, where another developer previously failed to secure financing. The group has filed plans for a 200,000-square-foot building at 550 West 21st Street, featuring 75 condominium units across 20 stories. In exchange for $7.8 million, Legion may add an extra 11,000 square feet to the project, which would contribute to the West Chelsea Affordable Housing Fund.

    The site, located on the waterfront near Chelsea Piers, was purchased by Legion in April for $87 million, a price that's $5 million higher than its last sale a decade ago. Deutsche Bank provided a $56 million acquisition loan. The parcel is considered the last undeveloped site along West 21st Street and 11th Avenue.

    Legion has taken over from Uri Chaitchik's Casco Development, which had planned a similar project but was unable to secure financing and filed for Chapter 11 protection. Corcoran Sunshine will market and sell the luxury condos, although a completion date is unclear. The site already features a partially completed foundation from Casco's unrealized project.

    Sigoura has been active in recent months, partnering with EJS Development to buy a Greenwich Village parcel for $57.5 million in May. Legion also secured a $195 million construction loan for an Upper East Side condo development and is working on another project overlooking Gramercy Park.