Mid Atlantic Real Estate Journal — April 13 - April 26, 2012 — 15A
www.marejournal.com
M ID A TLANTIC R EAL E STATE J OURNAL Tragash & Follman handle $3.2 million sale Gebroe-Hammer’s Uranowitz transacts $55.15 million
They wrote the policy.
We make sure they write the check.
E
ESSEX COUNTY, NJ — Ken Uranowi t z , managing director of
Gebroe-Ham- mer Associ- ates, and the commercial real estate b r o k e r a g e firm’s multi- family invest- ment sal es s p e c i a l i s t s
M. MILLER & SON Public Adjusters Since 1960
1211 Liberty Ave., Hillside, NJ 07205 ● Tel: 908-355-4800 adjuster@mmillerson.com ● www.mmillerson.com
Ken Uranowitz
have transacted approximately $55.15 million in trades, involv- ing a total of 874 units, during March. Key transactions were re- corded in Essex County, where three separate sales netted a combined total of $24.32 mil- lion for 460 units in Orange, East Orange and Newark and a $1.9 million note sale was closed on 73 units in Newark; a Bergen County, apartment building garnered a $125,000 per-unit price in the $1.625 million trade of 344 Gorge Rd. in Cliffside Park; and 150 units in Lock Haven, PA, sold for $7 million at Lock Haven Gardens in Clinton County. “In an economy where rental living has become the ‘new normal,’ the ever-strengthen-
Seasons at Sparta
ing tenant pool has clearly impacted the value of, and in- vestor interest in, multi-family properties. One need not look any further than the trading velocity in this sector, compared to other commercial real estate sectors where vacancies sky- rocketed during the economic downturn. With strong tenant retention, multi-family values have increased, cap rates have fallen and capital is competing vigorously for the investment opportunities that do come to market,” said Uranowitz. SPARTA, NJ — According to Gebroe-Hammer Associates, brokerage professionals are
known for their tenacity and agility, both of which were recently exhibited by Stephen Tragash and Steven Follman, sales associates, in the $3.2 mil- lion sale of Seasons at Sparta. The brokerage team of Tragash represented the seller, 84 Spar- ta Avenue LLC, and Follman identified the buyer, Seasons at Sparta Associates, LLC. “Since the housing inventory for seniors has not kept pace with demographics, especially in the Northern NJ region, well-maintained communities like Seasons at Sparta are now commanding greater investor attention,” said Tragash. ■
Recent Financings Arranged By Meridian Capital Group
Hunters Glen 1,124 Units $49,000,000 Delran, NJ
Steward’s Crossing 241 Units $27,200,000 Princeton, NJ
The Metro New Jersey Chapter of the Appraisal Institute 76th Annual Princeton Conference April 26, 2012-Marriott Hotel & Conference Center 100 College Rd. East, Princeton, NJ
West Creek Village 306 Units $16,000,000 Elkton, MD
Woods at Narraticon 150 Units $16,950,000 Deptford, NJ
)RXQGHGLQ 0HULGLDQ&DSLWDO*URXS//&LVRQHRIWKHQDWLRQâV ODUJHVWFRPPHUFLDOUHDOHVWDWHðQDQFHDQGDGYLVRU\ðUPV:RUNLQJZLWK DEURDGDUUD\RIFDSLWDOSURYLGHUV0HULGLDQDUUDQJHVðQDQFLQJIRU WUDQVDFWLRQVRIDOOVL]HVDQGSURSHUW\W\SHVLQFOXGLQJ ÷0XOWLIDPLO\ ÷&R2S ÷2IILFH ÷+RVSLWDOLW\ ÷+HDOWKFDUH ÷6WXGHQW+RXVLQJ ÷6HQLRU+RXVLQJ ÷6HOI6WRUDJH ÷&RQVWUXFWLRQ ÷5HWDLO ÷0L[HG8VH ÷,QGXVWULDO 3OHDVHFRQWDFW,VUDHO6FKXEHUWDW WROHDUQPRUHDERXW 0HULGLDQâVXQLTXHDSSURDFKDQGWRGLVFXVV\RXUðQDQFLQJQHHGV
View brochure and Register online at www.ai-newjersey.org
9V\[L:V\[O)\PSKPUN--PYZ[-SVVY0ZLSPU51 c^^^TLYPKPHUJHWP[HSJVT
Made with FlippingBook flipbook maker