National Resources And Great Point Media Secure $42.2M Loan For Development Site In Yonkers

A joint venture between National Resources and Great Point Media has secured financing from First Citizens Bank's Real Estate Finance division, a part of CIT, for the development of 1050 North Broadway in Yonkers, New York. The $42.2 million loan will support the construction of an entertainment production facility at the site.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $42,200,000
• Address: 1050 North Broadway, Yonkers, New York
• Market: Yonkers
• Asset Type: Development Site
• Building Square Footage: 112,400

The joint venture between National Resources and Great Point Media, led by Joseph Cotter, will oversee the development of the entertainment production facility at 1050 North Broadway. The project promises to bring new amenities and opportunities to the Yonkers market, catering to the growing demand for entertainment and production facilities in the area. Real Estate Finance, represented by Chris Niederpruem and Juan Vives, provided the financing for the venture, supporting the joint venture's vision and plans for the site.