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213 Glen Street
FINANCED

Ripco Secures $6.25M Loan To Refinance Retail Property At 213 Glen Street, Glen Cove

213 Glen Street

Retail
35,596 SF
clock iconFinanced 1 year ago
Steven Sperandio
Jake Weiss
Michael Fasano
+ 2
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Summary

Loan
NEW YORK
Retail
35,596 sqft

The retail property located at 213 Glen Street in Glen Cove has been refinanced with a loan amount of $6,250,000. The property spans a total area of 35,596 square feet and is owned by Miller Realty Associates. The prime location of this retail center in Nassau County, a wealthy suburban submarket of New York City, contributes to its desirability in the market. Key tenants of the property include CVS, Dollar Tree, and T-Mobile, who collectively occupy 75.9% of the total leasable area.

Summary of transaction details:

RIPCO's Head of Debt & Structured Finance, Steven Sperandio, and his team at Ripco successfully secured the $6,250,000 loan for Miller Realty Associates to refinance the retail center at 213 Glen Street. This transaction highlights the expertise of the Ripco team in negotiating favorable loan terms in the market.

Players

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    5

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  • Agencies

    1

Steven Sperandio's profile picture
Steven Sperandio
Ripco-image
Executive Managing Director, Debt & Structured Finance
$1.3M Sold
Michael Fasano's profile picture

Details

Deal Summary
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FINANCED
IMAGE: Steven Sperandio, Michael Fasano, Jake Weiss & Brice Shafer DATE: 04/01/2023 ADDRESS: 213 Glen Street MARKET: Glen Cove ASSET TYPE: Retail ~ SF: 35,596 LENDER: Suffolk Federal Credit Union LANDLORD: Miller Realty Associates BROKERS: Steven Sperandio (@StevenSperandio), Michael Fasano, Jake Weiss (@JakeWeiss6) & Brice Shafer - Ripco (@RipcoRealEstate) LOAN AMOUNT: $6,250,000 LOAN TYPE: Refinance LOAN TERMS: 5 Years, 4.13% Rate, 30-Year Amortization NOTE FROM BROKER: RIPCO’s Head of Debt & Structured Finance Steven Sperandio and his team, secured a $6,250,000 loan for Miller Realty Associates to refinance 167-219 Glen Street. The stabilized retail center has a prime location in a wealthy NYC suburban submarket of Nassau County. The Property’s current tenant roster includes credit tenants CVS, Dollar Tree and T-Mobile, who collectively sum to 75.9% of the Property’s total leasable area.

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Address213 Glen Street

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