4B — February 14 - 27, 2020 — New Jersey — M id A tlantic Real Estate Journal
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N ew J ersey
ivingston, NJ — To achieve success in the multi-family investment Transaction marked first of four on behalf of same seller NicolaouNamedDeal of the Year recipient for $75M sale of 487-unit, 18-building multi-family portfolio L sale of a 487-unit, 18-building portfolio spanning Union City, Bergenfield and Lodi, NJ.
apartment community sold for $12.85 million – Buyer: a private investor • Chatham Village Apart- ments, 500, 525 and 555 Main St., Chatham Township, a 118 apartment-home property sold for $35.25 million – Buyer: Stolar Capital in partnership with Vertical Realty and Ever- West Real Estate Investors, LLC Based in New Jersey, Ge- broe-Hammer is a nationally ranked multi-family-focused investment brokerage firm with a reported 127 apartment- property sales transactions to- taling $1.9B and 12,155 units recorded last year – a 72% increase over 2018. The firm is widely recognized for its consistent sales performance and is a 15-time CoStar Power Broker. Notable achievements also include arranging the largest New Jersey Portfolio sale (2019) and Mid-Atlantic regionmulti-family sale (2018) as well as being named a na- tionally ranked Multi-Family Influencer (2018); one of the nation’s top-25 single multi- family asset sales (2017); and among the nation’s top-25 multi-family brokers (2017). Vision&Rubenstein announces Sax LLP relocates to 39,810 s/f office at LATITUDE Parsippany, NJ — A joint venture partnership be- tween affiliates of Vision Real Estate Partners and Ruben- stein Partners, L.P. (together with affiliates, Rubenstein) announced that Sax LLP, a top 100 multi-disciplinary account- ing, tax and advisory firm, will be relocating this August from Clifton, to a 39,810 s/f office at LATITUDE in Parsippany. The 35-acre, two-building campus is a unique, hospitality-inspired workplace designed to foster a productive and dynamic work- life experience. “LATITUDE is designed to transcend the traditional work routine,” said Sam Morreale, founder and managing partner of Vision Real Estate Partners. “At LATITUDE, you don’t just come to the office to work – you come here to share experiences across disciplines and compa- nies to become the most suc- cessful version of yourself. We look forward to being a part of this exciting new chapter in the future of Sax LLP.”
moving parts, so it required a highly experienced market specialist backed by a firm like Gebroe-Hammer Associates, which could deploy resources quickly by jumping in feet first,” said Nicolaou. “This portfolio sale represents what Gebroe-Hammer does best for all of its clients, from single properties to portfolios across various geographies.” In addition to the Hudson/ Bergen Portfolio package, Nicolaou spearheaded and managed the property mar- keting and entire contract- to-closing process for three other properties in the Short
Hills Region. Collectively, the four packages included an extremely rare and diverse architectural, building class and tenant demographic mix throughout Hudson, Bergen, Morris and Union counties. The following details the three other trades arranged on behalf of the same seller: • New Providence Gardens, 43 Gales Dr., New Providence, a 232-unit garden-apartment community sold for $58.5 mil- lion – Buyer: Pacific Urban Residential LLC • Beech Spring Apartments, 7 & 10 Beech Spring Dr., Sum- mit, a 53-unit garden-style
Recognized at Gebroe-Ham- mer’s annual anniversary reception, the Hudson County/ New Jersey market special- ist represented the seller, Madison Hill Properties, in the disposition. The transaction was completed in a four-month timeframe and marked the first of four on behalf of the same seller where Nicolaou procured each of the buyers as the sole broker or as the lead Gebroe-Hammer broker. “A portfolio sale of this mag- nitude naturally had a lot of
b r o k e r a g e pro f ess i on, one must be ‘all in’ each a n d e v e r y day. Gebroe- Hammer As- sociates’ ex- ecutive vice p r e s i d e n t
Niko Nicolaou
Niko Nicolaou is just that and, as a result, has added another award to his long list of accomplishments – the firm’s coveted Deal of the Year honor for arranging the $75M
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