Davean Holdings pays $4.5M for 6-unit mixed-use building in South Slope

Davean Holdings through the entity 428 7th Avenue Owner LLC paid $4.5 million to Nicholas Valentino through the entity 428 7th Avenue, LLC for six-unit mixed-use building (S5) at 428 7th Avenue in South Slope, Brooklyn.
The deal closed on November 30, 2021 and was recorded on December 10, 2021.
The property has 4,800 square feet of built space for a total buildable of 4,800 square feet according to PincusCo analysis of city data. The sale price per built square foot is $937 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 Nicholas Valentino was Nicholas Valentino. The signatory for Davean Holdings was David Lloyd.
(320446914)The DOB issued a major alteration (A1) initial temporary certificate of occupancy for the building with 6 residential units on March 18, 2013.
David Lloyd is co-founder of Davean Holdings.
The former owners according to the Department of Housing Preservation and Development included Nick Valentino, head officer and Nicholas Valentino, site manager. The business entity was 428 7 Ave Llc.

Within a 400-foot radius of 428 7th Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months.

One of those two items was a loan which James P. Wiseman borrowed $9.7 million from Signature Bank secured by the 4,650-square-foot, three-unit three-family building (C0) on 370 14th Street and five other properties on March 8, 2021.

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