Back to all insights IPRG ANNOUNCES $1,970,000 SALE OF 343A TOMPKINS AVENUE IN BED-STUY, BROOKLYN
NEW YORK, NY – October 13th, 2026 –Investment Property Realty Group (IPRG), a leading New York-based commercial investment firm, has successfully closed the sale of 343A Tompkins Avenue, a mixed-use building located in the Bed-Stuy section of Brooklyn, for $1,970,000.
The transaction was negotiated by Derek Bestreich, Steve Reynolds, Tom Reynolds, Brian Davila, and Donal Flaherty, who represented both the seller and the buyer.
The property consists of two residential apartments and a ground-floor retail space previously occupied by the seller’s wine and bookstore business. After operating the business for several years, the seller decided to close the store and sell the property. However, the vacant retail space presented a challenge, potentially limiting financing options for prospective buyers and impacting the property’s market value.
IPRG was exclusively engaged to both lease the retail space and market the property for sale. The firm’s retail leasing team generated four competing offers and secured a new retail tenant, establishing an income stream and strengthening the property’s appeal to prospective buyers.
With a new retail lease in place, IPRG identified a local buyer who recognized the property’s investment potential. The retail lease and property sale were negotiated simultaneously, with the new lease commencing shortly before closing.
By securing a retail tenant ahead of the sale, IPRG addressed a key financing challenge, improved the property’s marketability and successfully completed the $1.97 million transaction.
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.