Kevin Maloney of PMG borrows $7M from First Republic for commercial property in Gowanus

Kevin Maloney of Property Markets Group through the entity Nevins Street Holdings LLC as borrower signed a loan agreement with lender First Republic Bank valued at $7 million for 1 parcel at 300 Nevins Street in Gowanus. The deal closed on April 8, 2020 and was recorded on April 9, 2020.
The property contains a total of 25,430 square feet of built space. The property has 204,053 square feet of available development rights.
The average loan per buildable square foot is $34.
There was no debt on the property for two years prior to this loan. The last time the property sold was December 4, 2012, when Maloney bought it for $14,000,000.

Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link