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

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SOLD
$6,000,000

Florida

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Industrial49,200 SF
Sold 04/30/2024
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Property Image
SOLD

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

869 33rd Court Southwest

See Similar Deals
Industrial49,200 SF
Sold 04/30/2024
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$122
Total Square Footage:49,200 SF
Transaction Type:Sale

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
24 deals$326.3M volume
BROKER

Adam Steinlauf
Katalyst Real Estate & Development
12 deals$138.8M volume(954) 830-1389
BROKER

David Stephens
Lambert Commercial Real Estate
1 deal$6M volume(772) 205-9744
BROKER

Details

SOLD
IMAGE: David Stephens, Michael Lewin, Juda Hersh, Adam Steinlauf, Corey Schwartz & Ben Genet DATE: 04/30/2024 ADDRESS: 869 33rd Court Southwest MARKET: Vero Beach ASSET TYPE: Industrial BUYER: Ben Genet - Genet Property Group (@genetpropertygroup); Juda Hersh (@Flwarehouseguy) & Corey Schwartz (@C3po_6) - Hersh Equity Group (@HershEquity) SELLER: William Hensick BUYER'S REP: Adam Steinlauf (@AdamSteinlauf) & Michael Lewin (@Mikey_Lew) - Katalyst Real Estate & Development (@KatalystRealEstate) SELLER'S REP: David Stephens - Lambert Commercial Real Estate SALE PRICE: $6,000,000 SF: 49,200 ~ PPSF: $122

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$319,999.99

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$21,316.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$28,443.06
Annual Debt Service$341,316.73