First Citizens Bank Provides $19.5M Construction Loan For Holbrook Logistics Center In Long Island

4955 Veterans Memorial Hwy Holbrook, NY 11741, USA

$19,500,000

$180/SF

Building Size

108,023 SF

Asset Type

Development Site

Closing

Jun 22, 2023

AI

A $19.5 million construction loan has been provided by First Citizens Bank for the development of Holbrook Logistics Center in Long Island, New York. The development site, located at 4955 Veterans Memorial Highway, spans 108,023 square feet and is owned by an affiliate of Eagle Cliff Real Estate Partners, represented by Paul Teti as the landlord.

Summary of transaction details:

Property Type: Development Site
Transaction Amount: $19,500,000
Address: 4955 Veterans Memorial Highway
Market: Long Island
Broker: Jon Mikula & Michael Lachs - JLL
Lender: First Citizens Bank

Holbrook Logistics Center benefits from its strategic location near Long Island's MacArthur Airport and convenient access to major highways, making it an attractive distribution center.

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