Real Estate Journal — February 27 - March 12, 2015 — 5A
www.marejournal.com
M id A tlantic
M id A tlantic R eal E state J ournal Two recent trades involving a total of 168 units Gebroe-Hammer inks $36m sale of a two building complex R AHWAY, NJ — The newly revitalized City of Rahway, NJ, con-
Our Capital Connections Deliver the Right Results
ANOTHER SUCCESSFUL TRANSACTION $21,000,000 University Plaza SIZE: 240,000 SF CITY: WILMINGTON, DE LENDER: CMBS
tinues its multi-family invest- ment renaissance with two recent trades involving a total of 168 luxury and duplex-style apartment-rental units. The brokerage professionals at Gebroe-Hammer Associ- ates represented both sellers and buyers in the sales of River Place at Rahway and Alden Apartments. The team of managing di- rector Joseph Brecher and sales representative Gehane Triarsi represented the own- er, while president Ken Ura- nowitz procured the buyer in the $36 million sale of River Place, a two-building complex located at 190 Lewis St., on the Rahway River. Built in 2005, the commu- nity’s 60 one-bedroom and 76 two-bedroom units include ce- ramic tile kitchens and baths; nine-foot ceiling heights; full- sized washers and dryers; fully equipped kitchens; and private balconies. An on-site fitness center, media room, outdoor courtyard, parking and attached garages are among the amenities. Brecher last sold the luxury apartment
35 Offices Coast-to-Coast
New Jersey | Philadelphia | Baltimore | Richmond | Washington DC
River Place at Rahway
community in 2011 in one of central New Jersey’s largest multi-family transactions that year. “The buyer recognized sig- nificant upside potential as the city’s downtown district continues to mature and tran- sition to one of the state’s pre- mier cultural and entertain- ment hubs,” said Uranowitz. “Almost 75 percent of the units have been renovated during the past three years and the new owner plans to re-
hab the remaining units upon turnover in order to render them more competitive.” Nearby, the sale of the 32- unit Alden Apartments was arranged for an undisclosed price by the Gebroe-Hammer brokerage team of executive vice presidents Greg Pine and David Jarvis and Tri- arsi. Gebroe-Hammer rep- resented the seller, Alden Apartments Company, LLC, and procured the buyer, a private investor. n
STRUCTURAL ENGINEERS
www.keasthood.com Philadelphia | Washington
Serving building owners, developers, real estate professionals, and architects since 1953.
We turn your ideas into reality.
Renovations & Additions
New Construction
Condition Assessments
Due Diligence
Poskanzer Skott Architects has been helping commercial real estate owners and brokers close the deal for more than four decades. Whether it’s a workspace, reception area or conference room, the firm’s multi-generational team draws on the full range of traditional tools and advanced technologies to help corporate decision- makers instantly see how a particular space can be transformed to meet their needs.
PoskanzerSkott.com Barry@psaia.com (201) 445-2322
400 Market Street, Suite 1250 Philadelphia, PA 19106 215.625.0099 1350 Connecticut Avenue NW, Suite 412 Washington, DC 20036 202.223.1941
Made with FlippingBook HTML5