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869 33rd Court Southwest

Ben Genet, Juda Hersh, And Corey Schwartz Purchase Industrial Property In Vero Beach For $6M
SOLDIndustrial

Ben Genet, Juda Hersh, And Corey Schwartz Purchase Industrial Property In Vero Beach For $6M

869 33rd Court Southwest

$6,000,000

$122/SF

Building Size

49,200 SF

Asset Type

Industrial

Closing

Apr 30, 2024

AI

The industrial property located at 869 33rd Court Southwest in Vero Beach was successfully sold. The transaction involved the sale of the property by William Hensick to buyers Ben Genet of Genet Property Group, Juda Hersh, and Corey Schwartz of Hersh Equity Group. The deal was facilitated by buyer's representatives Adam Steinlauf and Michael Lewin from Katalyst Real Estate & Development, along with seller's representative David Stephens from Lambert Commercial Real Estate. The property spans 49,200 square feet and was sold for $6,000,000, translating to a price per square foot of $122.

Summary of transaction details:

The successful property transaction was a collaboration between various key individuals and companies. Ben Genet of Genet Property Group, Juda Hersh, and Corey Schwartz of Hersh Equity Group acted as the buyers in the deal. Representing the buyers were Adam Steinlauf and Michael Lewin from Katalyst Real Estate & Development, while the seller, William Hensick, was represented by David Stephens from Lambert Commercial Real Estate. This transaction exemplified strong partnerships in the real estate industry, leading to a successful sale of the industrial property in Vero Beach.

Players

Michael Lewin

Katalyst Real Estate & Development

Broker

$326.3M

vol

24 deals

Broker

Vero Beach Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.64%

Cash-on-Cash

-0.76%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93