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NexBank Provides $27 Million Construction Loan For Public Storage Development In Rockville Centre

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FINANCED
$27,000,000
Anthony Scavo
TC

New York

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Self Storage121,500 SF
Financed
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Property Image
FINANCED

NexBank Provides $27 Million Construction Loan For Public Storage Development In Rockville Centre

117 North Long Beach Road

See Similar Deals
Self Storage121,500 SF
Financed
Anthony Scavo
TC
the dealplayerscompscontact
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Summary

NEW YORK
Asset Type:Self Storage
Price Per Square Foot:$222
Total Square Footage:121500 SF
Transaction Type:Loan

The asset involved is a self-storage facility located at 117 North Long Beach Road in Rockville Centre. The property encompasses a total square footage of 121,500 and is situated within the Long Island market. The loan amount for this construction project is $27,000,000.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $27,000,000
  • Lender: Mike Mendelow - NexBank
  • Lender's Attorney: Mike Mendelow (NexBank) & Taylor Colbert (NexPoint)
  • Landlord: Anthony Scavo - Basis Industrial
  • Loan Type: Construction
  • Construction Start: Immediately
  • Anticipated Completion: Early 2027

This transaction marks the second construction loan closing between Basis Industrial and NexBank/NexPoint, solidifying a strong lending partnership. The Rockville Centre project will be branded as Public Storage and is part of a larger development platform that includes plans for four to five additional self-storage projects over the upcoming year.

Players

TC
Taylor Colbert
2 deals$57M volume
LENDER
Anthony Scavo
Basis Industrial
Anthony Scavo
41 deals$1B volume
LANDLORD
Basis Industrial
Basis Industrial
LANDLORD

Details

FINANCED
IMAGE: Taylor Colbert & Anthony Scavo DATE: 10/24/2025 ADDRESS: 117 North Long Beach Road - Rockville Centre MARKET: Long Island ASSET TYPE: Self Storage ~ SF: 121,500 LENDER: LENDER: Mike Mendelow - NexBank (@NexBank) / Taylor Colbert - (@NexPoint) LANDLORD: Anthony Scavo (@AnthonyScavoJr) - Basis Industrial (@BasisIndustrial) LENDER'S ATTORNEY: Mike Mendelow (NexBank) & Taylor Colbert (NexPoint) LOAN AMOUNT: $27,000,000 LOAN TYPE: Construction NOTE FROM LANDLORD: This marks the second construction loan closing between Basis Industrial and NexBank/NexPoint, continuing a strong lending partnership in the firm’s growing self-storage division. The Rockville Centre project, branded as Public Storage, is part of a multi-deal development platform that will encompass four to five additional self-storage projects over the next 12 months. Construction begins immediately with anticipated completion in early 2027.

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$27,000,000.00

Monthly NOI$180,000.00
Monthly Debt Service$170,658.37
Change in Cash Flow$0.00
Refinance Proceeds$0.00