Investment Property Realty Group closes eight sales totaling $28.18 million

Brooklyn, NY Investment Property Realty Group (IPRG) negotiated eight closings in the last month totaling $28,189,500.

• 714 Grand St. sold for $2.15 million. This property is located between Manhattan Ave. and Graham Ave. in Williamsburg. The building offers 4,500 s/f (4,125 additional air rights) and three apartments and one retail unit. 714 Grand St. was sold by the Hernandez Family Trust to the Young family. IPRG brokers Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde represented the buyer and seller.

• 1902 Marmion Ave. sold for $1.325 million. This property is located between Fairmount Place and Elsmere Place in Tremont, Bronx. The building offers 5,642 s/f and three apartments. The property was delivered vacant at closing. Buyer plans to convert the property into 10 apartments.1902 Marmion Ave. was sold by Edwin Arevalo to Joel Guttman. IPRG brokers Bestreich, Steve Reynolds, Brian Davila, John Loch, and Victor Price represented the buyer and seller.

• 193 Withers St. sold for $2.7 million. This property is located between Humboldt St. and Graham Ave. in Williamsburg. This development site offers 6,420 buildable s/f. 193 Withers St. was sold by the Cheyleen family. IPRG brokers Bestreich, Sproviero, Adam Lobel, Toby Waring and Samantha Katz represented the buyer and seller.

• 453 Hudson St. sold for $6.427 million. This property is located between Morton St. and Barrow St. in West Village. This multifamily building offers eight apartments and 7,612 s/f. 453 Hudson St. was sold by the Vianna Family Trust to David Habif. This was a first-time sale in close to 90 years for the family trust. The buyer paid all cash for building. IPRG brokers Lobel, Zachary Ziskin, and Justin Zeitchik represented the buyer and seller.

• 760 Marcy Ave. sold for $1 million. This property is located between Lexington and Quincy in Bedford-Stuyvesant. This multifamily building offers eight apartments and 6,600 s/f. 760 Marcy Ave. was sold by Oswald John to Shimon Weber. This building was occupied with rent stabilized apartments. The average rent was $1,300 with the sale price representing a 6.5% cap rate. IPRG brokers Bestreich, Steve and Tom Reynolds, Davila, Noah Middlekauff, and Joe Moravec represented the buyer and the seller.

• 1054 Walton Ave. sold for $1.1 million. This property is located between East 165^th and 166^th St. in Concourse, Bronx. This multifamily building offers three apartments and 3,150 s/f. 1054 Walton Ave. was sold by Doodnauth Sukhu to Joel Guttman. This property was delivered vacant at closing and will be converted into 10 apartments. IPRG brokers Bestreich, Reynolds, Davila, Loch, and Price represented the buyer and seller.

• 147 7^th Ave. sold for $3.1875 million. This property is located between Carroll St. and Garfield Pl. in Park Slope. This mixed-use building offers two apartments, one retail unit, and one office space, as well as 3,780 s/f. 147 7^th Ave. was sold by Chong Cha Chang to Kyle Sze. IPRG brokers Bestreich, Sproviero, Lobel, Waring and Katz represented the buyer and seller.

• 226 Third Ave. sold for $10.3 million. This property is located in Gramercy Park. This mixed-use building offers 21 apartments and one retail store, as well as 12,816 s/f. 226 Third Ave. was sold by the Raymond family to the Paravalos family. The IPRG team was able to procure a buyer who closed in less than 60 days, all cash. IPRG brokers Lobel, Ziskin, and Zeitchik represented the buyer and seller.