Lipa Lerner Purchases Development Site At 1200 Franklin Avenue From Luis Zambrano For $1.2M

The asset involved in this transaction is a development site located at 1200 Franklin Avenue in Morrisania, Bronx. The sale was finalized for a price of $1,200,000, with a building square footage of 13,992 and a lot size of 6,630 square feet. The price per building square foot amounts to $85.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $1,200,000
• Building Square Footage: 13,992
• Lot Size: 6,630 SF
• Price per Building Square Foot: $85
• Buyer: Lipa Lerner
• Seller: Luis Zambrano
• Brokers: Derek Bestreich, Steve Reynolds, Brian Davila & John Loch - Investment Property Realty Group (IPRG)
• Date of Transaction: 8/5/2025

This transaction involved key individuals including buyer Lipa Lerner and seller Luis Zambrano. The brokerage team from Investment Property Realty Group consisted of Derek Bestreich, Steve Reynolds, Brian Davila, and John Loch, who played a vital role in facilitating the deal.