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
About this deal
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.
On the Map
$56,000,000
$465/SF
Retail
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Players
Whitestone 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93