Investment Property Realty Group’s Team Friedman closes five Bronx sales totaling $5.3 million

 

 

 

Bronx, NY Investment Property Realty Group’s (IPRG) Team Friedman closed five sales totaling $5.3 million in the month of September.

• 1707 Melville St. sold for $1.35 million. Located in Van Nest, the property had been owned by the same family for 43 years. Delivered vacant, the mixed-use building consists of three apartments and two stores. IPRG broker Jared Friedman represented both the seller and the buyer.

• 734 East 227^th St. sold for $1.05 million. Located in Wakefield, the fully occupied, free-market property required an expedited sale process. Leveraging his relationship with active Bronx investors, Friedman identified a qualified buyer with one phone call and secured an offer that met the seller’s target price. Friedman represented both the seller and buyer.

• 520A Wales Ave. sold for $850,000. Located in Mott Haven, the property consisted of a 50-ft.-wide lot with an apartment building occupying 25 ft. of the site and approximately 2,500 s/f of vacant land. Recognizing the value of the additional land, the seller subdivided the lot and retained IPRG to identify a developer to acquire the property and pursue the development opportunity. Friedman represented both the seller and the buyer.

 

 

• 214 Willis Ave. sold for $875,000. Located in Mott Haven, the fully occupied, mixed-use building consists of four apartments above a ground-floor retail space. Each apartment contains five bedrooms and is leased at below-market rents. Friedman and Daniel Morrison represented both the seller and the buyer.

• 1103 Castle Hill Ave. sold for $1.18 million. Located in Unionport, the fully renovated mixed-use building consists of three apartments and one retail space. The property faced challenges stemming from a vacate order issued following a previous fire. IPRG identified a buyer willing to acquire the property with outstanding issues. Friedman and Morrison represented both the seller and the buyer.