Barone Family Acquires Retail Asset In Glen Cove For $3.55M With Ripco Brokers
45 Herb Hill Road
$3,550,000
$459/SF
Building Size
7,721 SF
Asset Type
Retail
Closing
Sep 2, 2025
AI
The property asset involved in this transaction is a retail asset located at 45 Herb Hill Road in Glen Cove. The sale price was $3,550,000, and the size of the property is 7,721 square feet, resulting in a price per square foot of $459.
Summary of transation details:
- Property Type: Retail
- Transaction Amount: $3,550,000
- Address: 45 Herb Hill Road
- Market: Glen Cove
- Square Footage: 7,721
- Price Per Square Foot: $459
- Buyer: Barone Family
- Brokers: Stephen R. Preuss Sr., Kevin Louie, Andreas Efthymiou, Kevin Schmitz & Eric Delafraz - Ripco
Key individuals involved in the transaction include the Barone Family as the buyer, while the brokers representing the sale are Stephen R. Preuss Sr., Kevin Louie, Andreas Efthymiou, Kevin Schmitz, and Eric Delafraz from Ripco. Their combined expertise facilitated the successful closing of this retail asset transaction.
Players
Glen Cove Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.47%
Cash-on-Cash
-1.28%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93