First Citizens Bank’s Real Estate Finance business, a division of CIT, recently 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 project consists of 112,400 square feet of studio, office, warehouse and mill space that will be leased to MediaPro US – a leading Spanish-language production company.
The new studios complement two other CIT-financed projects with National Resources and Great Point Media at the nearby iPark Hudson Studios campus which is just 30 miles north from Grand Central Terminal making it easily accessible for commuters from New York City region.
Joseph Cotter – president of National Resources commented “These new studios add to our growing Yonkers property portfolio enabling us stay ahead with increasing demand for film production real estate”
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