Back to all insights IPRG ANNOUNCES $5,800,000 SALE OF 212 PRESIDENT STREET IN CARROLL GARDENS, BROOKLYN
NEW YORK, N.Y. – July 10, 2026 – Investment Property Realty Group (IPRG), a leading New York-based commercial investment firm, has successfully closed the sale of 212 President Street, a multi-family building located in the Carroll Gardens section of Brooklyn, for $5,800,000.
The transaction was negotiated by Derek Bestreich, Luke Sproviero, Adam Lobel and Toby Waring, who represented both the seller, The Ilardi Family, and the buyer, Ruben Damaghi.
The 25-foot-wide, 5,720 square-foot building was delivered completely vacant, creating a rare value-add opportunity in one of Brooklyn’s most sought-after neighborhoods. Strong demand from condo developers generated significant competitive interest, reflecting continued investor appetite for vacant multi-family assets in prime locations where development opportunities remain limited.
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.