Back to all insights IPRG ANNOUNCES $1,750,000 SALE OF 1094 HANCOCK STREET IN BROOKLYN
NEW YORK, NY – Oct. 15, 2026 – Investment Property Realty Group (IPRG), a leading New York-based commercial investment firm, has successfully closed the sale of 1094 Hancock Street, a mixed-use building in the Bushwick section of Brooklyn, for $1,750,000.
The transaction was negotiated by Derek Bestreich, Steve Reynolds, Brian Davila and Tom Reynolds, who represented both the seller, Felix Serrano, and the buyer, Felix Serrano.
IPRG was initially retained to exclusively market the property in 2021, but challenging market conditions during the COVID-19 pandemic and issues with nonpaying tenants prevented a sale. Over the following years, ownership attempted to secure a buyer independently but was unable to complete a transaction.
In 2026, ownership reengaged IPRG to market the property. The brokerage worked closely with the owner and legal counsel to position the building for sale with vacant possession. Once the property was vacated, IPRG implemented a targeted marketing strategy focused on buyers seeking vacant investment properties, generating more than 20 written offers.
The competitive bidding process ultimately resulted in the property’s first sale in 38 years. This deal not only displays IPRG’s ability to add value, getting owners more money than they can without representation, but also the durability to stick with any client regardless of the challenge.
Founded in 2016, IPRG (Investment Property Realty Group) is a broker-owned commercial real estate brokerage specializing in investment sales, retail leasing, and property management across New York City and New Jersey. The firm focuses on the sale of multifamily properties, mixed-use buildings, development sites, retail assets, and other commercial investment properties. Since its founding, IPRG has completed more than $4 billion in commercial real estate transactions, making it one of the most active investment sales firms in the New York metropolitan area. Through its market expertise, data driven approach, and collaborative platform, IPRG helps investors, developers, property owners, and institutions maximize the value of their commercial real estate assets. For more information, visit www.iprg.com.