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

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:

• Property Type: Retail
• Transaction Amount: $6,250,000
• Address: 213 Glen Street, Glen Cove
• Market: Glen Cove
• Asset Type: Retail
• Square Footage: 35,596
• Lender: Suffolk Federal Credit Union
• Landlord: Miller Realty Associates
• Brokers: Steven Sperandio, Michael Fasano, Jake Weiss, and Brice Shafer (Ripco)
• Loan Type: Refinance
• Loan Terms: 5 Years, 4.13% Rate, 30-Year Amortization

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.