Gina Argento borrows $26M from Santander Bank for property in Elmhurst

Gina Argento through the entity 45-10 94th Street, LLC as borrower signed a loan agreement with lender Santander Bank, N.A. valued at $26.0 million for 1 parcel, including the tax class public elementary junior and senior high schools (W1) at 45-10 94th Street in Elmhurst. The deal closed on July 28, 2020 and was recorded on August 19, 2020.
The property contains a total of 238,000 square feet of built space. The property has 333,705 square feet of available development rights.
The average loan per buildable square foot is $78.

Over the past five years, there have been 5 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 5 renovation/alteration projects (A2) applied for with a total estimated value of $967,515.
Direct link to Acris document. link
Direct link to the city’s interactive property map, ZOLA. link