Back to all insights IPRG ANNOUNCES $850,000 SALE OF 520A WALES AVENUE IN MOTT HAVEN, BRONX
NEW YORK, NY – September 25th, 2026 – Investment Property Realty Group (IPRG), a leading New York-based commercial investment firm, has successfully closed the sale of 520A Wales Avenue, a development site located in the Mott Haven section of the Bronx, for $850,00.
The transaction was negotiated by Jared Friedman who represented both the seller Baker Capital, and the buyer, Arben Mitaj.
The property consisted of a 50-foot-wide lot, with an apartment building occupying 25 feet of the lot and approximately 2,500 SF of vacant land. Recognizing the value of the additional land, the seller subdivided the lot and retained IPRG to identify a developer to take on the project and close on the opportunity.
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.