Investment Property Realty Group Acquires 22-Unit Multifamily In Crown Heights For $9.6M

Located in the vibrant neighborhood of Crown Heights, the multifamily property at 1627, 1629 & 1631 Pacific St has been sold. The transaction was facilitated by the team at Investment Property Realty Group (IPRG), represented by brokers Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring. The property spans a total square footage of 14,670 and consists of 22 units. With a sale price of $9,600,000, the price per unit (PPU) stands at $436,364, while the price per square foot (PPSF) is $654.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $9,600,000
• Units: 22
• Price per Unit (PPU): $436,364
• Total Square Footage: 14,670
• Price per Square Foot (PPSF): $654
• Address: 1627, 1629 & 1631 Pacific St
• Market: Crown Heights

This successful transaction was spearheaded by the Investment Property Realty Group (IPRG) team, comprising of Derek Bestreich, Luke Sproviero, Adam Lobel, and Toby Waring. Their expertise and negotiation skills proved instrumental in securing the sale. With this deal, they continue to solidify their reputation as reputable brokers in the Crown Heights market.