Back to all insights IPRG ANNOUNCES $2,900,000 SALE OF 42 RICHARDSON STREET IN WILLIAMSBURG, BROOKLYN
NEW YORK, NY – July 28, 2026 – Investment Property Realty Group (IPRG), a leading New York-based commercial investment firm, has successfully closed the sale of 42 Richardson Street, a development site located in the Williamsburg section of Brooklyn, for $2,900,000 to The Potrapeluk Family.
After a decade-long relationship with IPRG and seeing oufollowing the team’s successful sale of several similar properties on the same block, the firm was exclusively retained to market the two-story townhouse just steps away from McCarren Park. Zoned M1-2/R6B/MX8, the property offers approximately 5,000 buildable square feet for development potential. Strong buyer demand generated multiple competitive offers, driving the sale price to approximately 3% above expectations, a price record in the area of approximately $580 per buildable square foot.
The transaction was negotiated by Derek Bestreich, Luke Sproviero, Adam Lobel, Donal Flaherty, Corey Haynes, Thomas Ventura and Sal Monteverde who represented both the seller and the buyer.
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.