Edward J. Minskoff Equities ups debt to $52M from Citigroup for property at JFK

Edward J. Minskoff Equities through the entity EJM Airport LLC as borrower signed a loan agreement with lender Citigroup valued at $52 million for 1 parcel, including the tax class office building with two to six stories (O2) at 159-02 Rockaway Boulevard adjacent to John F. Kennedy International Airport in Queens. The deal closed on December 17, 2020 and was recorded on December 22, 2020.
The property contains a total of 208,952 square feet of built space.
The average loan per buildable square foot is $144.
This financing adds a $22 million supplemental loan on top of the existing $30 million provided in 2017.
Over the past five years, there have been 4 NYC Department of Buildings permit applications filed for this parcel valued at more than $20,000. There were 4 renovation/alteration projects (A2) applied for with a total estimated value of $138,050.

Direct link to Acris document. link
The signatory for the buyer or lender was Scott DeTraglia

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