Investment Property Realty Group closes $2.175 million sale of 247 Leonard St.

Brooklyn, NY Investment Property Realty Group (IPRG) closed the sale of 247 Leonard St., a multi-family building located in the Williamsburg section of the city, for $2.175 million.

The transaction was negotiated by Luke Sproviero, Donal Flaherty, Corey Haynes and James Maliszewski who represented both the seller, Rich Palma, Ralph Palma, Michael Di Giorgio, and the buyer, Daniel Pineda and Hailey Maher.

IPRG brought the property to market at an asking price of $2 million. During the marketing process, a FOIL search revealed that the property, which had operated as a three-family building for more than 50 years, was legally classified as a two-family dwelling.

Following the discovery, IPRG repositioned the property and generated multiple offers through targeted outreach to its buyer network. The property ultimately sold for $175,000 above the original asking price.