2A — January 15 - 28, 2016 — M id A tlantic
Real Estate Journal
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MAREJ A dvertising D irectory ARD Appraisal Co.. ................................................. 23A Barley Snyder.......................................................... 16A Brach Eichler LLC................................................... 21A Bussel Realty Corp................................................. IC-B Columbia Bank........................................................ 11A Cooper-Horowitz, Inc............................................... 14A CREW LV............................................................ 12-13C CREW NJ................................................................. 13B Cushman & Wakefield. ......................................... BC-B Deerwood Real Estate Capital................................ 10A Earth Engineering, Inc.. ......................................... 11C Evolution Energy Partners................................... BC-A Fowler. ..................................................................... 25A Gebroe-Hammer Associates.................................... 15B Harvey Hanna & Associates......................................7A Heller Industrial Parks..............................................2B HFF.......................................................................... 19A Hillcrest Paving and Excavating............................ 25A Hinerfeld Commercial Real Estate...................25A, 6C Hutchinson Mechanical Services............................ 11B Investors Real Estate Agency................................. 25A Kaplin|Stewart..........................................................3A Kearny Bank............................................................ 12A Keast & Hood..............................................................2C Kettler Management..................................................9C Legend Properties.......................................................7C MaGrann Associates. .............................................. 18A Marcus & Millichap PA........................................... 17A Marcus & Millichap PA........................................... 20A M&T Realty Capital Corp....................................... 13A Mericle Commercial. ............................................. BC-C Meridian Capital Group.............................................5B NAI Summit................................................................4C Poskanzer Skott Architects........................................6B Premier Compaction Systems..............................IBC-B R&J Control................................................................4A Rittenhouse Realty Advisors. ....................................3C SEBCO Laundry Systems....................................... 15B SELA Realty Investments..........................................4B SNJ Appraisal Institute......................................... 8-9B Subway..................................................................... 25A The Berger Organization. ..........................................1B The Kislak Co.. ...........................................................3B Whitesell.................................................................. 12B
Mid Atlantic R eal E state J ournal Publisher ............................................................................ Linda Christman Publisher ............................................................................... Joe Christman Associate Publisher ................................................................ Steve Kelley Associate Publisher .............................................................Alissa Aronson Associate Publisher ..........................................................Barbara Holyoke Senior Editor/Graphic Artist .................................................Karen Vachon Production Assistant ....................................................................Julie King Office Manager .................................................................... Joanne Gavaza Guest Columnist ..................... ............................................. Ken Uranowitz Mid Atlantic R eal E state J ournal — Published Semi-Monthly Periodicals postage paid at Rockland, Massachusetts and additional mailing offices Postmaster send address change to: Mid Atlantic Real Estate Journal, 312 Market St. Rockland, MA 02370 USPS #22-358 | Vol. 28 Issue 1 Subscription rates: $99 - one year, $148 - two years, $4 - single copy REPORT AN ERROR IMMEDIATELY MARE Journal will not be responsible for more than one incorrect insertion Toll-Free: (800) 584-1062 | MA: (781) 871-5298 | Fax: (781) 871-5299 www.marejournal.com The views expressed by contributing columnists are not necessarily representative of the Mid Atlantic Real Estate Journal
Mid Atlantic Real Estate Journal
The Fed’s Interest Rate Hike Optimal Multi-Family Investing Pace &Performance to Continue Ken Uranowitz I n light of the Federal Re- serve’s official announce- ment of an interest rate hike yesterday, KenUranowitz, president of Gebroe-Hammer Associates, offers the following commentary regarding how this move is expected to impact multi-family investments. This is the first time in over nine years the Fed is lifting rates thanks to a steadily growing economy. Since December, 2008, rates have hovered be- tween zero and 0.25 percent. “The interest rate increase has been anticipated for quite some time and has been essen- tially ‘built into’ rates already. This is particularly applicable to the past few months when the 10-year treasury ramped up almost 20-25 basis points, up to and including today, post announcement. “At this time it is more of a milestone in the nation’s economic resilience, from one of the worst recessions in our history, rather than having any real impact on the multi-family ELMWOOD PARK, NJ — The New Jersey Division of Lee & Associates donated hundreds of pieces of business attire to Suits for Success, a non-profit organization based in Jersey City. Suits for Suc- cess provides a myriad of ser- vices, such as interview suits, workshops, resume writing, career training and develop- ment to low-income and disad- vantaged men women. Lee & Associates, NJ, one of the largest commercial real estate firms in the state, is passionate and committed to helping the community. For the past several months, the company launched its 2nd Annual Clothing Drive among their employees and extended families and offices in their corporate building complex to benefit the local Bergen and Hudson chapter of the non- profit. “I am very pleased with the employees at Lee & Associ- ates who worked tirelessly to collect clothes and it was a team effort all around. Even our clients and families do-
industry, as a whole. While the cost of debt may increase ever so slightly with increased spreads, it will not dramati- cally affect apartment-building values or cap rates to any great extent. This is because record overwhelming demand for multi-family investments continues to outpace supply of for-sale product – and the gap is only widening. Market-rate rents throughout the New York/New Jersey metro area continue to escalate and will more than compensate for any increases in debt-service costs. “Homeownership will be- come even more unattainable, not just from an economic impact but also, and perhaps more importantly, from a
psychological vantage point. Simply put, the cost of home ownership just became more expensive yesterday along with continued strict lending standards for potential home buyers. This bodes well for multi-family since it strength- ens an already strong tenant pool and creates conditions for it to magnify. “Throughout the course of history – from recessionary to booming economies – apart- ment buildings have dem- onstrated their ‘investment stability and unwavering asset strength’ by consistently per- forming on the plus side of the balance sheet, rendering them the most favored commercial real estate investment.” n
Lee&Associates, NJ2 nd annual clothes drive helps benefit Suits For Success
Shown from left to right: Marilyn Morales, Development Officer/Suits for Success, Nilsa Rohaidy, Executive Director/Suits for Success, Rick Marchisio, President/Lee & Associates, NJ, Jason Lynch, Executive Vice President/Principal, Lee & Associates, NJ, and Jessica Vasil/As- sistant Vice President, Lee & Associates, NJ. photo credit: Ian Wilson
nated clothes. It is all about first impressions in a job in- terview and we were happy to donate suits and other business outfits that will help do this. In this time of year, it is important to give back and help those who are not as fortunate,” remarks Richard Marchisio , president of Lee & Associates, NJ. According to Nilsa Rohaidy, executive director of Suits for
Success, the clothes drive far exceeded her expectations. “To see racks and racks of business suits and shoes and ties and miscellaneous fashion items nearly fill an entire con- ference room nearly took my breath away,” she explains. We are so grateful that Lee & Associates, NJ is behind this organization 100 percent and our collaboration will really help those in need.” n
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