Anthony Colao borrows $6M from Alma Bank for property in Long Island City

Anthony Colao through the entity AEC Realty Holdings, LLC as borrower signed a loan agreement with lender Alma Bank valued at $6.3 million for 1 parcel, including the tax class miscellaneous manufacturing building (F9) at 10-40 Borden Avenue in Long Island City. The deal closed on August 13, 2020 and was recorded on September 29, 2020.
The property contains a total of 15,000 square feet of built space. The property has 33,334 square feet of available development rights.
The average loan per buildable square foot is $189.
The last time the property sold was August 15, 2013, for $2,500,000.

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