BSPVL Holdings buys Providence industrial building for $530,000

PROVIDENCE – A 6,068-square-foot industrial building at 536 Smith St. was recently purchased for $530,000 by BSPVL Holdings LLC, according to Sweeney Real Estate & Appraisal, which represented the seller.

The property, located in the Oakland Avenue Historic District of the Smith Hill neighborhood, has been vacant for at least 16 years.

Sweeney Real Estate agent Jay Kern represented the former owners of the property in the sale.

According to a quitclaim deed, a public record of the sale, the property was sold by Partial Research Consolidated LLC, a Providence-based limited liability company that described itself in corporate filings as a group of sculptors and designers creating a space to foster their professional endeavors. Partial Research Consolidated originally purchased the property for $335,000 from Alfred Elman, of South Kingstown, in 2008.

Sweeney said the one-story property underwent an interior renovation in 2018, and now has an open floor plan, with large open spaces and concrete floors. The building was constructed in 1950, according to the city’s online property tax evaluation database.

The 0.17-acre property, which is located in a C-1 commercial zone, includes frontage on both Smith and Frederick streets, with a 1,200-square-foot paved, fenced-in area, according to Sweeney. The property also features a drive-in door, the firm said.

The property was most recently valued by Providence assessors in fiscal year 2023 as being worth $309,100, according to the city’s online property tax evaluation database.

BSPVL Holdings describes itself in corporate documents filed with the state as a real estate renting company.

BSPVL Holdings submitted its articles of organization to the state in early 2022, with Sivakumar Batthala listed as the group’s resident agent, according to the R.I. Secretary of State website. Batthala is founder of Arogya Technologies LLC, which is currently working on data analytics and business intelligence projects with various clients, according to his LinkedIn page.