Edward J. Minskoff Equities Secures $160.9 Million Construction Loan For Office In Jamaica Queens
159-02 Rockaway Boulevard
$160,900,000
$770/SF
Building Size
208,952 SF
Asset Type
Office
Closing
Oct 16, 2026
About this deal
AI
An office asset located at 159-02 Rockaway Boulevard in Jamaica, Queens encompasses a total square footage of 208,952. The property is associated with Edward J. Minskoff Equities, which has secured a construction loan amounting to $160.9 million from Apollo Global Management’s Athene Annuity and Life Company.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $160,900,000
- Address: 159-02 Rockaway Boulevard
- Market: Jamaica, Queens
- Lender: Apollo Global Management
- Landlord: Edward J. Minskoff - Edward J. Minskoff Equities
- Loan Type: Construction
Key personnel involved include Edward J. Minskoff, representing the landlord in this transaction, and Apollo Global Management as the lender, facilitating the financing for the renovation of the mentioned office building near JFK Airport.
On the Map
$160,900,000
$770/SF
Office
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.10%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93