Back to all insights IPRG ANNOUNCES $3,735,000 SALE OF 216, 218, 220 EAST 179TH STREET IN MOUNT HOPE, BRONX
NEW YORK, N.Y. – July 31, 2026 – Investment Property Realty Group (IPRG), a leading New York-based commercial investment firm, has successfully closed the sale of 216, 218, 220 East 179th Street, a development site located in the Mount Hope section of the Bronx, for $3,735,000.
The transaction was negotiated by Steve Reynolds, Brian Davila and John Loch who represented both the sellers, Moortee Budhai, Mohaned Shameer, and Vincent Lee, and the buyer, Aron Stark and Yitzchok Salamon.
The assemblage consisted of three adjacent development sites owned by four separate ownership groups, including two families who were no longer on speaking terms. Each ownership group had different priorities, attorneys, closing timelines, and life estate considerations. Despite additional title challenges after one owner passed away in intestate, IPRG aligned all parties, identified the right buyer and closed the transaction at $106 per buildable square foot, above prevailing market value.
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.