Armando Gabrielli borrows $16M from HSBC Bank for property next to JFK

Armando Gabrielli through the entity Gabrielli Brookville LLC as borrower signed a loan agreement with lender HSBC Bank USA valued at $15.5 million for 1 parcel, including the tax class miscellaneous garage (G9) at 181-25 Eastern Road in Jamaica adjacent to John F. Kennedy International Airport. The deal closed on July 12, 2019 and was recorded on September 20, 2019.
The property contains a total of 75,410 square feet of built space. The property has 147,198 square feet of available development rights.
The average loan per buildable square foot is $70.
The last time the property sold was January 14, 2016, for $7,800,000.

Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 3 renovation/alteration projects (A2) applied for with a total estimated value of $639,000.There has been one new building permit application totaling 75,410 square feet.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link