Edward J. Minskoff Equities Refinances One Aviation Plaza In Queens With $72M Citibank Loan
159 02 Rockaway Boulevard
$72,000,000
$300/SF
Building Size
240,000 SF
Asset Type
Office
Closing
Jan 20, 2026
About this deal
AI
The property asset involved is an office located at 159-02 Rockaway Boulevard in the Queens market, encompassing a total square footage of 240,000. This property was recently refinanced with a loan amount of $72,000,000 from Citibank.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $72,000,000
- Lender: Citibank
- Landlord: Edward J. Minskoff
- Landlord's Company: Edward J. Minskoff Equities
- Previous Loan Amount: $52,000,000
- Previous Loan Year: 2020
The deal involved Edward J. Minskoff representing his own company, Edward J. Minskoff Equities, as the landlord in the refinancing transaction, succeeding the prior note that originated two years prior.
On the Map
$72,000,000
$300/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.22%
Cash-on-Cash
-0.06%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93