Paritosh Patyal pays $2.2M to Davean Holdings for retail building in Fort Greene

Paritosh Patyal through the entity Pacific Alliance LLC paid $2.2 million to Davean Holdings through the entity 660 Fulton Street LLC for retail building at 660 Fulton Street in Fort Greene, Brooklyn.
The deal closed on February 17, 2022 and was recorded on February 24, 2022.
The property has 3,078 square feet of built space and 1,965 square feet of additional air rights for a total buildable of 5,040 square feet according to PincusCo analysis of city data. The sale price per built square foot is $730 and the price per buildable square foot is $446 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 seller bought the property on October 1, 2020, for $1.7 million.
The signatory for Davean Holdings was David Lloyd. The signatory for Paritosh Patyal was Paritosh Patyal.
Prior to this transaction, the buyer Paritosh Patyal had not purchased any other properties and had not sold any properties over the past 24 months.
The seller Davean Holdings purchased 16 properties in 14 transactions for a total of $90.1 million and had not sold any properties over the same time period.

The buyer is in care of PD Properties.  David Lloyd is managing principal of Davean Holdings.
In Fort Greene, the bulk, or 28 percent of the 17.9 million square feet of built space are residential elevator buildings, with 1-4 family buildings next occupying 22 percent of the space. In sales, Fort Greene has had very little sales volume relative to other neighborhoods with $221.3 million in sales volume in the last two years. For development, Fort Greene has 2.3 times the average amount of major developments relative to other neighborhoods and is the 9th highest in Brooklyn. It had 2.1 million square feet of commercial and multi-family construction under development in the last two years, which represents 12 percent of the neighborhood’s built space.
On the tax block, the majority, or 80 percent of the 404,082 square feet of built space are office buildings, with 1-4 family buildings next occupying 13 percent of the space.
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