Investment Property Realty Group sells 270 15th St. for $1.3 million

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 270 15^th St., a multi-family building located in the Park Slope neighborhood, for $1.3 million.

The transaction was negotiated by Derek Bestreich, Luke Sproviero, Adam Lobel and Toby Waring, who represented both the seller, Prince Mondal, and the buyer.

The sale involved a 20-unit rent-stabilized building in the Alternative Enforcement Program (AEP), with more than 500 open violations, deferred maintenance and financial liabilities. The property’s challenges required a targeted market strategy focused on experienced operators. IPRG secured an all-cash buyer who plans to resolve the violations, remove the building from AEP and complete a full renovation.

Founded in 2016, IPRG is a broker-owned commercial real estate brokerage specializing in investment sales, retail leasing, and property management across New York City and New Jersey. The firm focuses on the sale of multifamily properties, mixed use buildings, development sites, retail assets, and other commercial investment properties.

Tags: Brokerage New York City Multifamily

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