Back to all insights IPRG ANNOUNCES $4,950,000 SALE OF 2302 ANDREWS AVENUE IN UNIVERSITY HEIGHTS, BRONX
NEW YORK, NY – November 10th, 2026 –Investment Property Realty Group (IPRG), a leading New York-based commercial investment firm, has successfully closed the sale of 2302, 2308, 2310 & 2312 Andrews Avenue North, a development site located in the University Heights section of the Bronx, for $4,950,000.
The transaction was negotiated by Brian Davila, Steve Reynolds and John Loch, who represented both the seller and the buyer.
IPRG was exclusively retained to discreetly market the development site, which the seller had strategically assembled over several years at a low-cost basis. As Bronx land values continued to appreciate, the seller sought to capitalize on the investment while achieving an above-market sale price within a strict closing deadline.
Through a targeted marketing strategy, IPRG leveraged its network of active developers to identify qualified buyers capable of executing within the required timeframe. By generating competitive interest among a select group of developers, the team secured an offer with a time-of-the-essence closing commitment.
The property sold for $127 per buildable square foot, establishing a new price record for the area and achieving a price 27% above the Bronx average for land. The transaction maximized the seller’s return while providing the certainty of execution and expedited closing needed to facilitate the seller’s next investment.
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.