Real Estate Journal — NJAA CONFERENCE & EXPO — May 16 - 29, 2014 — 11D
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M id A tlantic
NJAA C onference & E xpo
OBOKEN, NJ — Marcus & Millic- hap Real Estate Location within Hoboken attracts local and out-of-area buyers immediately Gambuzza and Taub of Marcus &Millichap broker $4 million 18-unit property H
of the seller, a private inves- tor. Gambuzza and Taub also represented the buyer in this transaction. “The prop-
The property, located at 834 Hudson St., is a brick, four-story, walk-up building consisting of 18 one-bedroom apartments. The property was well maintained and had recently undergone capital improvements that include new windows, a new hot wa- ter heater, new fire pump and equipment, and new laundry equipment. The building is close to the main business street – Wash- ington Street – as well as the PATH station and Hoboken Terminal and Stevens Insti- tute of Technology. n
Investment Se r v i c e s , one o f the nation’s larg- est real es- tate invest- ment servic- es firms, has announced the sale of an 18-unit apartment property located in Hoboken. The building sold for $4 million, according to Brian Hosey , sales manager of the firm’s New Jersey office. Nat Gambuzza , a vice president of investments, and Kevin Taub , an associate in Marcus & Millichap’s New Jersey office, had the listing to market the property on behalf Nat Gambuzza Real estate firm performs operations withYardi Voyager SANTA BARBARA, CA — TriBridge Residential man- ages 16,000 residential units in seven U.S. states. Since 1990, TriB- ridge part- n e r s h a v e o v e r s e e n mo r e than $2.75 billion in acquisi - tions and de- velopment of more than 33,000 multifamily units. TriBridge selected Yardi Voyager® as its new Software as a Service core property management and accounting system, along with the Yardi Marketing Suite and Yardi Multifamily Suite. TriBridge will execute many of its marketing and leas- ing operations—from online marketing and reputation management, to mobile lease execution and online resident services—with the Yardi Mar- keting Suite. “TriBridge will enjoy the benefits of a holistic system that facilitates decision-mak- ing about acquisitions, sales, and other business actions. This single-stack technol- ogy approach also allows easy implementation of additional ancillary products as new business needs emerge,” said Terri Dowen , senior vice president of sales for Yardi. n Terri Dowen
erty’s loca- tion within H o b o k e n a t t r a c t e d several local and out-of- area buyers immediately.
Kevin Taub
Within 30 days, our office generated several competi- tive offers with favorable terms for the seller,” said Gambuzza.
Expertise Locally, Trusted Nationally Visit us at Booth 413 at the NJAA Conference and Expo May 19-20 to speak with an investment market specialist. Marcus & Millichap New Jersey investment professionals combine in-depth local market knowledge and unrivaled transaction expertise to devise optimal positioning, pricing and marketing strategies for every property. By leveraging the industry’s largest investment sales force and relationships with the broadest pool of qualified investors, we generate an expanded marketplace and maximum value for properties nationwide.
Below is a Sampling of Our Recent Closings
LoCATioN
# of UNiTs
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# of UNiTs
Bayonne, NJ
12 Units 10 Units 56 Units 12 Units 62 Units 12 Units 18 Units 24 Units 12 Units 17 Units 13 Units 340 Units 28 Units 17 Units Mixed Use
Ocean, NJ
96 Units 15 Units
Bernardsville, NJ
Passaic, NJ
Clifton, NJ
Pequannock, NJ Pequannock, NJ Perth Amboy, NJ
Mixed Use Mixed Use
East Orange, NJ
Elizabeth, NJ
12 Units 24 Units
Garfield, NJ
Plainfield, NJ
Hoboken, NJ Irvington, NJ Jersey City, NJ Jersey City, NJ
Pompton Lakes, NJ
Mixed Use
Rahway, NJ Roselle, NJ
6 Units
24 Units 10 Units 12 Units 30 Units 11 Units 22 Units 12 Units 12 Units 30 Units 45 Units 7 Units 7 Units
Schenectady, NY Schenectady, NY South Orange, NJ
Linden, NJ
Liverpool, NY
Marshalls Creek, PA
Troy, NY Troy, NY
Maywood, NJ
Midland Park, NJ
West New York, NJ West New York, NJ West New York, NJ West New York, NJ West New York, NJ
Montclair, NJ
52 Units 20 Units 6 Units 8 Units 12 Units
New Brunswick, NJ New Brunswick, NJ New Brunswick, NJ
Newark, NJ
Woodbridge, NJ
Brian Hosey, Regional Manager brian.hosey@marcusmillichap.com New Jersey 611 River Drive, 4th Floor, Elmwood Park, NJ 07407 (201) 582-1000 To access the investment market, contact the market leader.
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