Real Estate Journal — New Jersey — April 12 - 25, 2019 — 3B
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M id A tlantic
N ew J ersey For $112.5 million in the Garden State during Q1 2019 Gebroe-Hammer’s Zweibel logs 812multi-family units sold
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ington, Camden and Gloucester counties, which have numerous pockets of well-established and emerging commuter-hub municipalities. Known for its historic sites, Southwest NJ also has abundant neighbor- hood lifestyle amenities, quaint downtown shopping districts and major retail malls. Top employers include Campbell’s SoupWorld HQ, LockheedMar- tin, Rowan University, Cooper University Health Care and Virtua Health System. In Central Jersey’s Long Branch and Highland Park, Zweibel arranged three prop- erty sales of 126 total units
valued in excess of $16.7M. Further north, three properties featuring 225 units spanned Bellville (Essex County), Gar- field (Bergen County) and New- ton (Sussex). In combination, the Highland Park, Belleville and Garfield properties were part of a three- county portfolio. “This portfolio encompassed a total of 109 apartment homes featuring a mix of one- and two-bedroom layouts, the latter of which ac- counts for the highest concen- tration of units in the property package and is the most in- demand layout for each metro,” noted Zweibel.
IVINGSTON, NJ — G e b r o e - Hamme r Associates ’ Adam
Zweibel , se- nior VP, has closed a total of 10 separate multi-family i nv e s tmen t transactions in Q1’19 en- c ompas s i ng 812 units sold
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Adam Zweibel
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for a combined $112.5M. Each of the garden-style properties were located in the Southwest Jersey Region as well as the Central and Northern metros. Zweibel represented the seller in each of the trades where Gebroe-Hammer also procured the buyers. “Multi-family product within out-commuter suburban com- munities are in greatest de- mand among investors and tenants, both of whom are seeking investment properties and rentals, respectively, that extend beyond the city limits of New York and Philadelphia,” said Zweibel, who is the firm’s Central Jersey market special- ist. He also represents client interests throughout the entire state and beyond. “Every single one of these properties is on a high-ridership commuter or light-rail line and/or along one or more bus routes that directly connect to the region’s far-reaching local, regional and interstate highway system,” he added. “This makes it possible to enjoy all the em- ployment and lifestyle options associated with major urban hubs at a much more affordable cost of living on the periphery.” The greatest concentration of units totaling 355 one- and two- bedroom layouts spanned Burl- 2019 Real estate industry forecast & trends for. . . business, managing its tax structure and allowing for an easier process to obtain development approval. Dur- ing this time, Real Estate professionals such as I will continue to forecast the effects of change within our industry and focus on new opportuni- ties to capture the competitive advantage. Stuart Berger is a part- ner at Sax LLP, and lead- ing accounting, tax and advisory firm, and he is the founder of the firm’s Real Estate Practice. continued from page 2B
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