Davean Holdings pays $9M for rentals in East Village, Carroll Gardens

Davean Holdings pays $9 million in two separate transactions with separate sellers for a rental building in the East Village and another in Carroll Gardens. Prior to this, Davean has paid $73.4 million in nine transactions for rental buildings with a total of 136 units since February 2020, according to PincusCo records.

In the larger of the new sales, Davean Holdings through the entity 47 St. Marks Place Owner LLC paid $6.1 million to Angela Sobrino, Juan Carlos Sobrino, and Jose Sobrino through the entity Angela Sobrino, Trustee for 10-unit rental (C4) at 47 St Marks Place in East Village, Manhattan.
The deal closed on November 12, 2021 and was recorded on December 3, 2021.
The property has 7,990 square feet of built space and 1,408 square feet of additional air rights for a total buildable of 9,392 square feet according to PincusCo analysis of city data. The sale price per built square foot is $768 and the price per buildable square foot is $653 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 Angela Sobrino, Juan Carlos Sobrino, and Jose Sobrino was Angela Sobrino and Juan Carlos Sobrino. The signatory for Davean Holdings was Sean Lefkovits.

Sean Lefkovits is co-founder of Davean Holdings.
The former owners according to the Department of Housing Preservation and Development includes Angela Sobrino, individual owner and Juan-Carlos Sobrino, agent.

Within a 400-foot radius of 47 St Marks Place, PincusCo identified nine commercial real estate items of interests occurred over the past 24 months.
Of those nine items, three were sales above $5 million totaling $22.4 million. The most recent of the three was Madison Realty Capital which bought the 9,532-square-foot, 22-unit rental (C7) on 334 East 9th Street for $8.4 million from GC Realty Advisors and Raphael Toledano bankrupt entities on May 12, 2021.
Of those nine items, six were loans above $5 million totaling $154.2 million. The most recent of the six was Sabet Group which borrowed $5.9 million from Greystone Servicing Company secured by the 5,728-square-foot, eight-unit rental (C4) on 226 East 10th Street on November 24, 2021.

Direct link to Acris document. link

In the second sale, Davean Holdings through the entity 368 Court Street Owner LLC paid $2.9 million to Guiseppi Rotondo through the entity 274-275 President Street Corp. for three-unit mixed-use building (S9) at 368 Court Street in Carroll Gardens, Brooklyn.

The deal closed on October 28, 2021 and was recorded on December 3, 2021.
The property has 4,300 square feet of built space according to PincusCo analysis of city data. The sale price per built square foot is $674 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 Guiseppi Rotondo was Guiseppi Rotondo. The signatory for Davean Holdings was Sean Lefkovits.

The former owners according to the Department of Housing Preservation and Development included Louisa Rotondo, head officer and Louise Rotundo, officer. The business entity was 274-275 President St Corporation.

Within a 400-foot radius of 368 Court Street, PincusCo identified one commercial real estate item of interests occurred over the past 24 months.
It was a loan which ELH Management borrowed $11.1 million from New York City Housing Development Corporation secured by the 11,186-square-foot, 16-unit rental (C7) on 361 Court Street and two other properties on October 28, 2020.

Direct link to Acris document. link