Ben Genet Of Genet Property Group And Juda Hersh & Corey Schwartz Acquire Industrial Asset In Palm Bay For $6.3M
2510 Kirby Avenue Northeast
$6,300,000
$108/SF
Building Size
57,840 SF
Asset Type
Industrial
Closing
Oct 1, 2024
AI
The industrial asset located at 2510 Kirby Avenue Northeast in the Palm Bay market has a total area of 57,840 square feet. The property was sold for $6,300,000, resulting in a price per square foot of $108.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $6,300,000
- Address: 2510 Kirby Avenue Northeast
- Market: Palm Bay
- Square Footage: 57,840
- Price per Square Foot: $108
- Buyer: Ben Genet - Genet Property Group; Juda Hersh & Corey Schwartz - Hersh Equity Group
- Seller: Frederic Stein
- Broker Representatives: Adam Steinlauf & Michael Lewin - Katalyst Real Estate & Development
In this transaction, Ben Genet represented Genet Property Group as the buyer, while Juda Hersh and Corey Schwartz represented Hersh Equity Group. The seller, Frederic Stein, completed the sale with the assistance of Adam Steinlauf and Michael Lewin, who acted as broker representatives for Katalyst Real Estate & Development.
Players
Palm Bay 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
2.52%
Cash-on-Cash
-0.72%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93