Kevin Schmitz Kevin Louie Stephen R. Preuss Sr. & Andreas Efthymiou Of Ripco Sell Retail Property In Whitestone For $56M
153-15 Cross Island Parkway
$56,000,000
$465/SF
Building Size
120,252 SF
Asset Type
Retail
Closing
Jul 24, 2026
AI
The property asset involved in the transaction is a retail space located at 153-15 Cross Island Parkway in Whitestone. The sale price for the property was $56,000,000, with a total square footage of 120,252, resulting in a price per square foot of $465. The lot size is 9.26 acres.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $56,000,000
- Address: 153-15 Cross Island Parkway
- Market: Whitestone
- Total Square Footage: 120,252
- Price per Square Foot: $465
- Lot Acreage: 9.26
The deal involved several key individuals from Ripco, namely Kevin Schmitz, Kevin Louie, Stephen R. Preuss Sr., and Andreas Efthymiou, who were instrumental in facilitating the transaction.
Players
Whitestone Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93