Real Estate Journal — New Jersey — November 9 - 22, 2018 — 3B
www.marejournal.com
M id A tlantic
N ew J ersey
IVINGSTON, NJ — At a time when multi-fam- ily rent gains continue Gebroe-Hammer Associates Market Specialist: Bergen-Passaic/North Jersey Multi-Family Investment Demand is Persistent L
and has been named among the sector’s Women of Influence. Since 1975, Gebroe-Hammer’s brokerage activities have con- centrated on all multi-family types including class A, B and C high-rise and garden-apartment properties. The firm’s client base includes private family offices and owners, REITs, pri- vate equity funds and other institutional investors. While initially focusing on NJ, the firm has evolved during the past 43 years to also dominate the northeastern PA and New York State submarkets as well as represent client interests nationally.
Bureau, for all rental housing median-gross-rent increases are up in Bergen County by 8.3% over the past four years while Passaic County has net- ted a 5.3% increase. Among the North Jersey Metro counties realizing me- dian rent growth of +10% is Es- sex County, where Pomerantz was involved in two transac- tions encompassing 217 units. She was part of the brokerage teams exclusively represent- ing the seller of 25 Van Velsor Pl. and 103 Chancellor Ave., both in Newark, as well as the sale of 742 Park Ave., in East Orange. In each of the trades,
proaches,” added Pomerantz. Since joining Gebroe-Hammer in 2011, Pomerantz has been instrumental in dramatically ex- panding Gebroe-Hammer’s pres- ence within Passaic and Bergen Counties while representing client interests in the greater Northern NJ metro. Widely acknowledged for her consis- tent sales performance, she has risen through the firm ranks from area sales representative and assistant vice president, to being named vice president in 2014 and senior vice president in 2016. She was recently featured as an Executive Woman in Real Estate for her accomplishments
Pomerantz procured the buy- ers and contributed toward establishing a new $257,692 per-unit-price benchmark for East Orange, at the time. Rounding out Pomerantz’s recent transaction activity are two other sales. These were in Bayonne – 56 units along Ken- nedy Boulevard sold for $8.4 million – and on Perth Amboy’s New Brunswick Ave., where 38 units sold for $5.625 million. “There is a high velocity of deals in the pipeline that have come under contract in the past 60 days, so expect to see a flurry of closings within the next 60 as 2019 rapidly ap-
their advance in North Jer- sey, invest- ment demand is persistent in virtually every county me t ro -wi de as year-end 2018 draws
Debbie Pomerantz
closer, according to Gebroe- Hammer Associates senior vice president Debbie Pomer- antz . The North Jersey market specialist, whose submarket focus is Passaic County and Bergen County, has arranged sales involving over 400 units that sold for $53.1 million on behalf of clients spanning these two counties as well as Essex, Hudson andMiddlesex counties during the past 10 months. In Passaic and Bergen alone, Pomerantz has recorded a total of five transactions. The prop- erties spanned the strong-hold municipalities of Fairview, Ro- chelle Park and Ridgefield Park in Bergen County and the City of Passaic in the county that bears the same name. “Apartment buildings domi- nate the ‘genetic makeup’ of the overall housing stock in Bergen and Passaic counties, due in large part to the post- war middle-class housing boom that occurred on the edges of American cities,” said Pomer- antz. “On average, apartment units account for 71% of the housing stock, with some mu- nicipalities like Passaic ringing in at a resounding 84%.” According to the U.S. Census a section of the MARE Real Estate Journal 350 Lincoln Street, Suite 1105 Hingham, MA 02043 P: 781-740-2900 Fax: 781-740-2929 www.marejournal.com New Jersey
Account Executive Kim Brunet kbrunet@marejournal.com Section Editor Karen Vachon editor@marejournal.com
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