Judah Hertz has become a major real estate mogul in the city of New Orleans. Years ago, the city and its investors had never heard of Hertz or the Hertz Investment Group. The company became well known in a few months time as Judah Hertz invested in surrounding office buildings that gave him a substantial portion of the control of twenty five percent of commercial property in New Orleans.
Hertz’s real estate history began in the 1970’s when he invested in an old, dilapidated building where he saw potential in a profit and community interest. He turned rundown, old condos in New York into high fashion, trendy lofts that became a hot spot to live. When the real estate value increased tremendously from the extensive renovations, Judah Hertz quickly resold the property to turn a profit funding his future real estate ventures.
After his success in New York, Judah Hertz began setting his sights to the east coast city of Miami, Florida. He stayed firm with his ideals and again bought condos to renovate into stylish apartments. Hertz’s foundation with an ability to pick out real estate with potential led him towards a successful empire where he bought space in Los Angeles, California to base his Hertz Investment Group for its headquarters.
After basing his company in Los Angeles, the real estate in California started to sky rocket in price. This led the real estate mogul to find property inland, and he found a great infrastructural potential in New Orleans. He went on a New Orleans real estate shopping splurge for thirty six months, and when he finally finished he owned twenty five percent of the commercial market share. This brought his company plenty of popularity, especially after the Hurricane Katrina disaster.
After Hurricane Katrina, the New Orleans area was a disaster. Judah Hertz had setup permanent residency in the Louisiana city, and it had become the major headquarters for the growing real estate investment corporation. The hurricane had damaged many of his properties throughout New Orleans. Some of his damaged property worth millions of dollars included land down the popular road of Poydras Street. After the hurricane hit New Orleans, Hertz hired an assessment team to find all the damage done to the city and the Hertz Investment Group’s office space and buildings.
Not only was the city underwater, but the Hertz buildings with extensive damaged included four downtown office towers totaling 2.1 million square feet, a 500,000-square-foot urban mall and a 110,000-square-foot suburban office park.
The loss of property did not hold down Hertz or his firm. He quickly recuperated, and fixed the downtown buildings and brought back a better community spirit from his restorations. Hertz continues to maintain his investments in New Orleans, and he continues to find potential real estate to bring community spirit and style in office buildings, shopping centers, and historical areas. As his investments grow, the cities and communities continue to gain a greater presence in nice, renovated, trendy units. The success of Judah Hertz has continued to advance even through tough times, and his innovation brings each city more value.
