facebook


Go Pro
+ Submit+ Submit a Deal
Home

/

Deals

/

New York

/

Retail

/

Loan

/

213 Glen St Glen Cove, NY 1...

Updated Oct 29, 2024

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

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

213 Glen St Glen Cove, NY 11542, USA

$6,250,000

$175/SF

Building Size

35,596 SF

Asset Type

Retail

Closing

Apr 1, 2023

About this deal

AI

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.

On the Map

Open live map

$6,250,000

$175/SF

Retail

View full map

Players

Steven Sperandio

Cushman & Wakefield

Broker

$773.9M

vol

21 deals

Broker
Suffolk Federal Credit Union
Suffolk Federal Credit UnionLender
Bilt advertisement

New York Retail Market Snapshot

Boundary boundary · Retail · Loan transactions

Loading comparables…

Deal FAQ

About $175 per square foot on a published $6.3M for 35,596 square feet (2023).

Visit Steven Sperandio to view all their deals.

Browse New York retail loans on Traded.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.54%

Cash-on-Cash

-0.73%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

More Deals

Nearby Markets