IPRG brokers three sales totaling $6.2 million

Brooklyn, NY Investment Property Realty Group (IPRG) would like to announce the closing of the following transactions:

• 1193 Nostrand Ave. in Prospect-Lefferts-Gardens sold for $1.3 million. This property is located between Hawthorne and Fenimore Sts. These mixed-use buildings consist of two apartments and one store and total 3,300 s/f priced at $394 per s/f and $433,333 per unit. The property was delivered vacant. Nostrand Ave. is a wide street, zoned R6 with an FAR of 3 allowing for an additional 2,700 s/f to redevelop. This building was sold by Dorothy Hutchinson and the buyer was Joseph Lichtman. Derek Bestreich, Steve Reynolds, Tom Reynolds, and Brian Davila facilitated both the buy and sell side of this transaction.
• 267 Kosciuszko St. in Bed-Stuy sold for $3.35 million. This property is located between Throop & Tompkins Ave. This multifamily building consists of four apartments and totals 7,550 s/f priced at $646 per s/f and $837,500 per unit. This building is delivered vacant and will be redeveloped as co-living. This building was sold by Robert Phillip and the buyer was James Grasso-Cohabs. Bestreich, Steve Reynolds, Tom Reynolds, and Davila facilitated both the buy and sell side of this transaction.
• 363 South 4^th St. in Williamsburg sold for $1.55 million. This property is located between Hooper and Keap Sts. This multifamily building consists of nine apartments and totals 6,000 s/f, priced at $258 per s/f and $172,222 per unit. The building is mostly rent stabilized. This building was sold by the DSA management, and the buyer was Abel Park. Bestreich, with Luke Sproviero, Donal Flaherty, Justin Zeitchik, & Corey Haynes facilitated both the buy and sell side of this transaction.