Investment Property Realty Group Acquires Development Site In Williamsburg, Brooklyn

A development site located at 272 South 1st Street in Williamsburg, Brooklyn, has been sold for $4,200,000. The property, spanning 10,800 square feet, offers significant potential for development. With a price per square foot (PPSF) of $389, the transaction represents an opportunity for future growth and investment.

Summary of transaction details

• Property Type: Development Site
• Transaction Amount: $4,200,000
• Brokers: Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde - Investment Property Realty Group (IPRG)
• Date: 09/15/2023
• Market: Williamsburg, Brooklyn
• Building Square Footage (BSF): 10,800
• PPSF: $389

Leading the transaction were Derek Bestreich, Luke Sproviero, Donal Flaherty, Corey Haynes, Thomas Ventura, and Sal Monteverde from Investment Property Realty Group (IPRG). Their expertise and industry knowledge played a significant role in facilitating the successful sale of the development site.