Founded by Mark Irgang in 1981, Irgang Group was initially focused on the acquisition, renovation, re-tenanting, redevelopment, and ongoing management of commercial and multi-story residential sites in the Bronx and Manhattan.
The company’s journey began with the 1981 acquisition of a dilapidated, 4,500-square-foot, former printing plant on White Plains Road in the Bronx that was transformed into a retail building with six stores. The single-story building continues to be operated by the firm.
Over the next 40 years, Irgang Group went on to buy nearly 30 other commercial, multi-family, mixed-use and other sites in the two New York City boroughs. Under the company’s direction, most properties were gut-renovated, re-tenanted and, in some cases, fully redeveloped and expanded.
Among the many early examples of Irgang Group’s ability to reimagine blighted and under-utilized properties was its acquisition of the empty shell of a three-story former school building at 819 East 178th Street in the Bronx that was converted into a residential building with 35 apartments. (Several of these projects are presented on the “Completed Urban Redevelopment Projects” page.)
While some properties were subsequently sold, Irgang Group today owns and manages a portfolio of over 20 New York City properties, including seven where major redevelopments involving vertical and/or horizontal expansions are in various stages of planning or development. (Several of these upcoming projects are featured on the “Planned Urban Redevelopment Projects” page.)
In 2021, Irgang Group expanded both its geographic and property type footprint by diversifying into the shopping center arena. During the second half of the year, the company acquired a 129,000-square-foot neighborhood shopping center in Atlanta and a 393,000-square-foot power center in southern New Jersey. This was followed in the first half of 2022 by the acquisition of a 196,000-square-foot power center in the metro Charlotte, North Carolina area. The company is actively looking for additional acquisition opportunities nationwide, focusing on open-air properties with 100,000 to 500,000 square feet of gross leasable area.
