Davean Holdings pays $10.4M for mixed-use building in East Village

Davean Holdings through the entity 164 First Avenue Owner LLC paid $10.4 million to Joseph S. Giardina and Louise Pfister through the entity Casabel LLC for six-unit mixed-use building (S9) at 164 First Avenue in East Village, Manhattan.
The deal closed on October 1, 2021 and was recorded on October 15, 2021.
The property has 9,577 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $1,085 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Joseph S. Giardina and Louise Pfister was Joseph S. Giardina and Louise Pfister. The signatory for Davean Holdings was David Lloyd.

The owner according to the Department of Housing Preservation and Development was Louise Pfister, head officer. The business entity was Casabel, LLC.

Within a 400-foot radius of 164 First Avenue, PincusCo identified 12 commercial real estate items of interests occurred over the past 24 months.
Of those 12 items, one was for major renovation including a certificate of occupancy change. It was an initial temporary certificate of occupancy issued on February 13, 2020 for the $1.5 million renovation of 9,384-square-foot R-2 building with seven residential units at 174 First Avenue.
Of those 12 items, two were sales above $5 million totaling $23 million. The most recent of the two was Madison Realty Capital which bought the 9,445-square-foot, 20-unit rental (C4) on 253 East 10th Street for $9.0 million from GC Realty Advisors and Raphael Toledano bankrupt entities on May 12, 2021.
Of those 12 items, nine were loans above $5 million totaling $221.7 million. The most recent of the nine was Madison Realty Capital which borrowed $70 million from Signature Bank secured by the 10,090-square-foot, 20-unit rental (C4) on 253 East 10th Street and 14 other properties on May 12, 2021.

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