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45 Herb Hill Road

Barone Family Acquires Retail Asset In Glen Cove For $3.55M With Ripco Brokers
SOLDRetail

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:

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

Kevin Louie

Ripco

Broker

$1B

vol

126 deals

Broker
Ripco
RipcoBrokerage

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