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:
- Property Type: Industrial
- Transaction Amount: $6,000,000
- Buyer: Ben Genet - Genet Property Group
- Buyer: Juda Hersh & Corey Schwartz - Hersh Equity Group
- Seller: William Hensick
- Buyer's Rep: Adam Steinlauf & Michael Lewin - Katalyst Real Estate & Development
- Seller's Rep: David Stephens - Lambert Commercial Real Estate
- Address: 869 33rd Court Southwest
- Market: Vero Beach
- Square Footage: 49,200
- Price Per Square Foot: $122
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
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