Minskoff Grant Realty signs $15.3M refi for three properties in Rego Park
Minskoff Grant Realty & Management through the entity Quest 95 LLC as borrower signed a refi loan with lender Flushing Bank valued at $15.3 million for three properties including the mixed-use building (K2) at 95-12 63rd Road in Rego Park, Queens, retail building (K1) at 97-24 63rd Road in Rego Park, Queens, and retail building (K1) at 97-48 63rd Road in Rego Park, Queens.
The deal closed on June 9, 2025 and was recorded on June 20, 2025. The prior lender was Dime Community Bank.
The three properties have 53,950 square feet of built space and 94,608 square feet of additional air rights for a total buildable of 148,490 square feet according to a PincusCo analysis of city data. The loan price per built square foot is $283 and the price per buildable square foot is $103 per the PincusCo analysis. (The price per square foot analysis is the transaction price divided by square feet as reported in public records and assumes no air rights have been sold.)
The signatory for Minskoff Grant Realty & Management was Jean Minskoff Grant . The signatory for Flushing Bank was H. Michael Lynch .
Prior sales and revenue
Out of the three properties, two with a total of 53,950 square feet of built space generated revenue of $2.2 million per year.
Violations and lawsuits
There were no lawsuits or bankruptcies filed against the properties for the past 24 months. In addition, according to city public data, the properties have received $12,470 in OATH penalties in the last year.
Development
For the tax lot buildings, one out of the three buildings received a initial certificate of occupancy in the last ten years. There are no active new building construction projects or major alteration projects with initial costs more than $1 million on this tax lot.
The neighborhood
In Rego Park, The majority, or 65 percent of the 10.6 million square feet of commercial built space are elevator buildings, with mixed-use buildings next occupying 13 percent of the space. In sales, Rego Park has had very little sales volume relative to other neighborhoods with $175.3 million in sales volume in the last two years. For development, Rego Park has had very little major development activity relative to other neighborhoods.It had 207,150 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.
The block
There are no active new building construction projects on this tax block.
The majority, or 79 percent of the 46,588 square feet of built space are mixed-use buildings, with retail buildings next occupying 19 percent of the space.
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