Investment Property Realty Group sells 2302, 2308, 2310, and 2312 Andrews Ave. North for $4.95 million

Bronx, NY Investment Property Realty Group (IPRG) has closed the sale of 2302, 2308, 2310 & 2312 Andrews Ave. North, a development site located in University Heights, for $4.95 million.

The transaction was negotiated by Brian Davila, Steve Reynolds and John Loch, who represented both the seller and the buyer.

IPRG was exclusively retained to discreetly market the development site, which the seller had assembled over several years at a low-cost basis. As Bronx land values continued to appreciate, the seller sought to capitalize on the investment while achieving an above-market sale price within a strict closing deadline.

Through a targeted marketing strategy, IPRG leveraged its network of active developers to identify qualified buyers capable of executing within the required timeframe. By generating competitive interest among a select group of developers, the team secured an offer with a time-of-the-essence closing commitment.

The property sold for $127 per buildable s/f, establishing a new price record for the area and achieving a price 27% above the Bronx average for land. The transaction maximized the seller’s return while providing the certainty of execution and expedited closing needed to facilitate the seller’s next investment.