16B — June 28 - July 11, 2013 — Owners, Developers & Managers — Mid Atlantic Real Estate Journal
www.marejournal.com O WNERS , D EVELOPERS & M ANAGERS For last development site on City Island Procida’s 100 Mile Fund provides construction loan E N G L E W O O D CLIFFS, NJ — The 100 Mi l e Fund , a
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real estate investment pri- vate equity fund managed by Procida Funding, LLC , announced that it provided a construction loan to City Island Reserve, LLC , an affiliate of Greystone Prop- erty Development . The borrower is using the loan proceeds to develop 43 luxury waterfront homes on 5 acres on City Island in the Bronx with a sellout value of $30 million. The homes will be a mix of 2 to 4 bedrooms with
Publication July 26, 2013 Deadline July 12, 2012
Contact: Steve Kelley for more information 800-584-1062 x205 skelley@marejournal.com
Aerial City Island rendering
spectacular views of the Long Island Sound. Procida’s relationship with Greystone was formed back in 2002 when Procida and Greystone completed the first luxury highrise condominium development in downtown Madison, WI. Procida is also no stranger to the Bronx, having complet- ed the first luxury waterfront development in the Throgs Neck section back in 1985. According to Douglas Ben- ach , president of Greystone Property Development, this will be the most significant residential development on City Island in over a decade. “Combine a great site with an experienced developer and you get a great investment,” said Billy Procida, president of Procida Funding. ■ NEW BRUNSWICK, NJ — Matrix Development Group has broken ground on a new 550-car parking deck at its mixed-use Plaza Centre complex in downtown New Brunswick. The parking garage, which will be directly connected to the complex, will further enhance the amenity base for Plaza Centre, with parking for tenants of the complex’s two office buildings, located at 303 and 317 George St., as well as spaces for future development at the property. The Plaza Centre complex consists of 210,000 s/f of office space known as Plaza I and II, the land being developed into the parking garage, and an ad- ditional two-plus acres of land for future development. ■ Matrix Dev. Group breaks groundon550- car parking garage
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