164 1st Avenue
This is a 10-year modified gross lease in the East Village at $200/SF for 1,300 SF, resulting in approximately $260,000 in annual base rent and a total lease value near $2.98M — solid terms for the landlord given the submarket. The asking rent of $200/SF is at the upper end of the East Village mixed-use comp range, which shows recent comparable deals clustering between $120–$200/SF, suggesting this is an aggressive but achievable rent in a recovering retail corridor. The tenant, Zaab Zaab, is an independent restaurant operator, which carries inherent credit risk given the historically high failure rate of F&B tenants, particularly post-COVID in NYC, though a 10-year term signals confidence from both parties. Landlord Davean Holdings appears to be a credible private holder with East Village exposure, and representation by Momentum Realty Group and Silverline Realty Group adds professional transaction integrity. Overall, the deal reflects a healthy lease execution in a recovering submarket, but the F&B tenant profile and modified gross structure introduce moderate risk that warrants scrutiny on tenant financials and personal guarantees.
Deal Stats
Parties
Seller / Landlord
Davean Holdings is a private NYC-based real estate holding company with a portfolio of mixed-use properties in lower Manhattan and surrounding neighborhoods. They appear to be an established landlord with a stable track record in the East Village submarket.
Buyer / Tenant
Zaab Zaab is a Thai restaurant operator with locations in New York City, known for authentic Northeastern Thai cuisine. As a food and beverage tenant in a competitive NYC market, they represent moderate credit risk typical of independent restaurant operators.
Score Analysis
How to improve
The following actions could meaningfully improve this deal's Homage score. Each suggestion is based on the deal's profile, asset type, and current rating — addressing them before approaching a lender can increase approval likelihood and lower borrowing costs.
Resolve outstanding violations or liens
Active violations significantly depress the score; clearing them has high impact.
Provide sponsor financial statements
Documented liquidity and net worth reduce lender risk perception.
Submit a detailed business plan
A clear repositioning or hold strategy demonstrates deal viability.
Identify institutional co-lenders or equity partners
Reputable co-investors signal deal quality to underwriters.
Raw Deal Textclick to expand
Submit Growing Financial Partnerships For Over 30 Years. Get Started Deals New York Mixed Use Lease 164 1st Avenue Zaab Zaab Leases Mixed-Use Space At 164 1st Avenue East Village For 10 Years LEASED $200 Mixed-use 1,300 SF Leased 3 weeks ago the deal players comps contact related Summary NEW YORK Asset Type: Price Per Square Foot: Total Square Footage: Transaction Type: The mixed-use property located at 164 1st Avenue in the East Village has been leased at a rate of $200 per square foot for a space measuring 1,300 square feet. This transaction is structured as a modified gross lease with a term of 10 years. Summary of transaction details: Property Type: Mixed-use Transaction Amount: $200/ft Square Footage: 1,300 Lease Term: 10 Years Lease Type: Modified Gross Lease Landlord: Davean Holdings Tenant: Zaab Zaab Landlord's Rep: Isaac Abed & Avi Akiva - Momentum Realty Group Tenant's Rep: Solomon Sason - Silverline Realty Group Key individuals involved in this lease transaction include Isaac Abed and Avi Akiva representing the landlord, Davean Holdings, through Momentum Realty Group, while Solomon Sason serves as the representative for the tenant, Zaab Zaab, under Silverline Realty Group. See More Players All Brokers Landlords | Tenants Avi Akiva 40 deals $18M volume (212) 314-4684 BROKER Silverline Realty Group BROKERAGE Davean Holdings LANDLORD Details Deal Summary IMAGE: Isaac Abed, Avi Akiva & Solomon Sason DATE: 5/10/2026 ADDRESS: 164 1st Avenue MARKET: East Village ASSET TYPE: Mixed-use LANDLORD: Davean Holdings TENANT: Zaab Zaab LANDLORD'S REP: Isaac Abed (@Isaac_Abed) & Avi Akiva - Momentum Realty Group (@Momentum_Realty_Group) TENANT'S REP: Solomon Sason - Silverline Realty Group (@SilverlineRealtyGroup) ASKING RENT: $200/ft ~ SF: 1,300 LEASE TERM: 10 Years LEASE TYPE: Modified Gross Lease Email New York | @tradedny Comps 10 These are similar deals based on proximity and similarity to the subject deal. Village Cafe & Grill Leases Mixed-use Space At 128 East 4th Street In East Village New York | Mixed-use 09/24/2020 Cloud N Leases Mixed-Use Space At 9 Avenue B With Landlord Steven Croman For 10 Years New York | Mixed-use | PPSF: $120 12/18/2025 Next Step Realty Leases Mixed-Use Space At 4 East 8th Street In Greenwich Village 11/01/2023 SMA Equities Leases Mixed-Use Space To Derschutze At 22 Spring Street In Nolita New York | Mixed-use | PPSF: $200 03/28/2025 Abington Properties Leases Mixed-Use Space To Someday's Bakery At 297 Park Avenue South New York | Mixed-use | PPSF: $190 06/10/2025 Justin Freiberg Leases Retail Space To Loup At 354 Broome Street In Nolita, Manhattan New York | Mixed-use | PPSF: $175 + 1 08/01/2024 Thatsodnyc Leases Mixed-Use Space At 153 Prince St. In Soho For $180/ft New York | Mixed-use | PPSF: $180 02/09/2024 Hey Tea Leases Mixed-use Space At 101 Thompson Street In Soho Manhattan With Abraham Smouha's Representation New York | Mixed-use | PPSF: $186 06/01/2024 Ramen Danbo Signs Ten-Year Lease At 48 Carmine Street In West Village SM 09/06/2019 Gastronomia Toscana Leases Mixed-Use Space At 310 Bleecker Street In West Village 09/13/2021 Contact Get in touch with the broker you want Select Brokers Isaac Abed, Avi Akiva Name Phone (optional) Message I'm an agent Similar Tenants These are similar tenants of Mixed-use properties in this price range based on t Unlock All Profiles Unlimited deal views Access investor profiles & contacts Exclusive comps & market data These are similar brokers based on this deal Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map. NEW! Search No recent news available for this market No active listings available for this market Suggestions Analyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results. Deal Type SALE LOAN LEASE Property Size (sq ft) Rent per Square Foot (Annual) Lease Term (Years) Annual Escalation (%) Lease Type NNN (Triple Net) Free Rent Period (Months) Reset Effective Rent (Annual) $298,060.86 Total Lease Value $2,980,608.62 Net Landlord Cash Flow Is there something missing? Send suggestions We are telling CRE's story Traded is the #1 source for cutting edge CRE transactions & insights. States National Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming News Agents Agencies About About Us FAQ Testimonials Help Help Center Return Policy © 2026 Traded Media LLC . All rights reserved. Terms & Conditions Privacy Disclaimer Cookie Policy Do Not Sell My Info Acceptable Use