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Edward J. Minskoff Equities Refinances One Aviation Plaza In Queens With $72M Citibank Loan
FINANCED
$72,000,000
New York
See Similar DealsOffice240,000 SF
Financed 01/20/2026
FINANCED
Edward J. Minskoff Equities Refinances One Aviation Plaza In Queens With $72M Citibank Loan
159 02 Rockaway Boulevard
See Similar DealsOffice240,000 SF
Financed 01/20/2026
Summary
NEW YORK
Asset Type:Office
Price Per Square Foot:$300
Total Square Footage:240,000 SF
Transaction Type:Loan
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.
Players
LENDER
Details
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$72,000,000.00
Monthly NOI$480,000.00
Monthly Debt Service$455,088.98
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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