Citigroup Provides $52M Loan For Office Building At 159-02 Rockaway Blvd In Queens
159-02 Rockaway Blvd, Queens, New York, NY, USA
$52,000,000
$248/SF
Building Size
208,952 SF
Asset Type
Office
Closing
Dec 16, 2020
About this deal
AI
An office property located at 159-02 Rockaway Blvd in Queens has been involved in a recent transaction. The property spans a total of 208,952 square feet and is owned by Edward J. Minskoff Equities. The loan for this transaction was provided by Citigroup and amounted to $52,000,000.
Summary of transaction details
- Property Type: Office
- Transaction Date: 12/17/2020
- Address: 159-02 Rockaway Blvd
- Market: Queens
- Square Footage: 208,952
- Lender: Citigroup
- Landlord: Edward J. Minskoff Equities
- Loan Amount: $52,000,000
The office property located at 159-02 Rockaway Blvd in Queens was involved in a transaction on 12/17/2020. Edward J. Minskoff Equities acted as the landlord in this deal, while the loan was provided by Citigroup for a total amount of $52,000,000.
New York Office Market Snapshot
Boundary boundary · Office · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.31%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93