Investment Property Realty Group closes $2.65 million sale of 723 6th Ave. in Greenwood Heights

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 723 6^th Ave., a mixed-use building located in the Greenwood Heights section of the city, for $2.65 million.

The transaction was negotiated by Derek Bestreich, Luke Sproviero, Adam Lobel and Toby Waring, who represented both the seller, Theresa West, and the buyer, Wan Shuen Yuen-Yeung.

The seller engaged IPRG after a previous off-market transaction stalled and deal terms began to change. IPRG brought the property to market through a competitive process, leveraging its buyer network and activity in the city’s free-market mixed-use sector.

Within one week, IPRG secured an accepted offer above the previous off-market proposal from an all-cash, noncontingent buyer. Contracts were signed within two business days, and the transaction closed 30 days later. 

“It was the best decision we made to put our trust in Derek and IPRG with the sale of our property,” West said. “Derek provided us with the fastest sale we could have asked for, along with vital advice that may have helped us avoid a costly mistake. I would highly recommend him and his team to anyone looking for a thoroughly competent and professional real estate broker.”

Founded in 2016, IPRG (Investment Property Realty Group) 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.