Bestreich, Sproviero, Lobel, and Waring of IPRG sell 212 President St. for $5.8 million

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 212 President St., a multi-family building located in the Carroll Gardens section of the borough, for $5.8 million.

The transaction was negotiated by Derek Bestreich, Luke Sproviero, Adam Lobel and Toby Waring, who represented the seller, The Ilardi Family, and the buyer, Ruben Damaghi.

The 25-ft.-wide, 5,720 s/f building was delivered vacant, creating a rare value-add opportunity in one of the city’s most sought-after neighborhoods. Strong demand from condo developers generated competitive interest, reflecting continued investor appetite for vacant multi-family assets in locations where development opportunities remain limited.

Tags: Brokerage New York City Multifamily

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