David Sweeny’s PDS Development borrows $19M from BNB Bank for office property in Gowanus

David Sweeny’s PDS Development Corp. through the entity PDS Carroll Street, LLC as borrower signed a loan agreement with lender BNB Bank valued at $19.0 million for 1 parcel, including the tax class office building with two to six stories (O2) at 530 President Street in Gowanus. The deal closed on October 28, 2019 and was recorded on December 13, 2019.
The property contains a total of 101,395 square feet of built space.
The average loan per buildable square foot is $187.
The last time the property sold was March 14, 2014, for $18,602,216.

Over the past five years, there have been 9 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 9 renovation/alteration projects (A2) applied for with a total estimated value of $731,775.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link