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| Rendering of planned 3400 New Hyde Park Road Office Building, North Hills Neighborhood, Long Island, NY |
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| Michael Gigliotti |
NEW YORK, NY –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has secured a construction loan and
preferred equity for the development of 3400 New Hyde Park Road, a to-be-built,
232,917-square-foot, Class A office building in Long Island’s North Hills, New
York.
HFF worked on behalf of
the borrower, a partnership between TRITEC Real Estate Company (TRITEC) and
Castagna Realty Co., Inc. (Castagna), to secure the construction loan through
U.S. Bank. In addition, HFF secured
additional capital for the borrower from iStar, Inc. in the form of partnership
preferred equity.
The four-story building
will be the headquarters for Dealertrack, a provider of integrated web-based
tools, services and technologies for automotive retailers and lenders.
Spector Group and Combined
Resources Consulting and Design, Inc. are designing the building with many
sustainable design elements.
Set for
completion in 2017, 3400 New Hyde Park Road will be situated on 9.73 acres at
the border of Queens and Nassau County near New York City. The property will have surface parking spaces
with a parking lot accessible via exit ramps from both the Long Island
Expressway (LIE) and the Northern State Parkway.
The HFF team was led by
managing director Michael Gigliotti
and senior managing director Andrew
Scandalios.
“The location in Nassau
County must be considered among the best office locations on all of Long
Island,” Gigliotti said. “Direct access
to both the LIE and the Northern State Parkway is unprecedented and was one of
the main factors that drove the tenant and, ultimately, the lender to TRITEC
and Castagna’s property.”
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
TRITEC on Twitter at @TRITEC_RE
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