Back to all insights IPRG ANNOUNCES $2,810,000 SALE OF 341 5TH AVENUE IN PARK SLOPE, BROOKLYN
NEW YORK, NY – October 5th, 2026 – Investment Property Realty Group (IPRG), a leading New York-based commercial investment firm, has successfully closed the sale of 341 5th Avenue, a mixed-use building located in the Park Slope section of Brooklyn, for $2,810,000.
The transaction was negotiated by Derek Bestreich, Luke Sproviero, Adam Lobel and Toby Waring, who represented both the seller, Victor Santos Jr., and the buyer, Samuel Arans.
The 26-foot-wide property consists of six apartments and two commercial spaces along a prime stretch of 5th Avenue in Park Slope. The transaction presented several challenges, including nonconformity issues, potential rent-overcharge exposure and tenants with outstanding rent arrears.
Despite these complexities, IPRG identified a buyer who recognized the property’s long-term potential and future upside. The transaction closed quickly in an all-cash deal with no contingencies.
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.