First Citizens Bank Provides $66.1 Million Construction Financing For ZD Jasper Realty Development Site

The development site located at 64-11 Queens Boulevard in the Woodside market comprises a Building Square Footage of 175,000. The construction loan provided by First Citizens Bank is valued at $66,100,000.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $66,100,000
• Lender: First Citizens Bank
• Landlord: ZD Jasper Realty
• Sales Brokers: Stephen R. Preuss Sr. & Andreas Efthymiou - Ripco
• Financial Brokers: Adam Hakim, James Murad, Michael Winter, Evan Brudnicki & Alexander Korolik - Ripco

RIPCO's Investment Sales team facilitated an $18.6 million sale of the site, representing both the buyer and seller, while the firm's Debt & Structured Finance team secured the construction financing for the project.