First Citizens Bank’s Real Estate Finance business, a division of CIT, provided $42.2 million in financing to a joint venture between National Resources and Great Point Media for the development of 1050 North Broadway – an entertainment production facility pre-leased to MediaPro Studios located in Yonkers. The new studios will consist of 112,400 square feet with studio, office, warehouse and mill space available for lease by Spanish-language production company MediaPro US.
The project complements two other CIT-financed projects from National Resources and Great Point Media at nearby iPark Hudson Studios campus – just 30 miles north of Grand Central Terminal providing easy access to commuters from New York City region. Joseph Cotter (President at National Resources) said “These new studios add to our growing Yonkers property portfolio that empowers us stay ahead with increasing demand for film production real estate.”
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