2B — October 14 - 27, 2016 — New Jersey — M id A tlantic
Real Estate Journal
www.marejournal.com
N ew J ersey Specializing in Multi-family & comm’l investment sales Frank Somma establishes Somma Associates LLC
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Somma, is now a broker/sales- person at Somma Associates. “Vito is well known in the in- dustry and has an exceptional client base,” said Somma. “We have launched a new website, www.sommarealestate.com and we are actively looking for new talent to build our team.” Somma and DeGennaro have decades of industry ex- pertise. Both have brokered numerous apartment building and commercial property sales throughout the state, with a special focus on Hudson, Ber- gen and Essex and Monmouth counties. Somma says the demand
for multi-family apartment investments is strong and the market is one of the most ro- bust he has ever seen. “Inves- tors come to us everyday,” he said. “Multi-family apartment buildings are considered to be one of the safest real estate investments. “In today’s market, most multi-unit residential con- struction is for rental proper- ties rather than condos,” said Somma. “This trend makes older multi-unit rental proper- ties more valuable than ever because the rents are more affordable than new construc- tion rents.” The landscape for obtaining exclusive multi-family apart- ment assignments is highly competitive. “Market knowl- edge and long-term industry relationships are vital in our business,” said Somma. “Both Vito DeGennaro and myself have proven track records of negotiating and structuring op- timum deals for our clients.” n The Bridge, Inc. signs long-term 3,300 s/f lease IRVINGTON, NJ — The Bridge, Inc. a longstanding 501(c)(3) non-profit organiza- tion and a leading provider of substance abuse, family crises, and mental health counseling services to residents of Essex and Union county, has signed a long-term lease at the 40 & 50 Union Ave. Medical/Profes- sional Campus, in Irvington. The new 3,300 s/f satellite of- fice houses the organization’s Family Preservation and Out- patient Counseling Services, which were relocated from two former locations on Grove St. and Clinton Ave. Said Robert Masella, presi- dent of the board of trustees: “In addition to the physical structure, the medical campus’ new amenities and first-rate tenant services were a major draw and we are happy to now call it our new home.” Since being acquired in 2014 and renovated by owner/prop- erty manager Novus Equities, LLC , the two-building, 72,000 s/f office campus has emerged as a gateway for area hospitals and not-for-profit health services organizations. Located within minutes of Newark Beth Israel Medical Center and Children’s Hospital of New Jersey, the cam- pus has undergone an extensive property repositioning. n
ACKENSACK, NJ — Frank Somma , co- founder of real estate
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brokerage firm Gerber/Som- ma Associates of Hacken- sack, New Jersey, announced the founding of Somma As- sociates LLC , a new firm specializing in multi- family apartment sales and commer- cial real estate brokerage. “The new company brings positive change and opportunities to emphasize our strong tradition of expertise in multi-family investment properties,” said Somma. Vito DeGennaro, former director of sales at Gerber/
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leaders in investment real estate sales, specializing in multifamily housing throughout New Jersey
Our long-term Clients – Investment Real Estate Buyers and Sellers – value the exclusive brokerage relationship we have with them as well as our hands-on approach to every deal, from listing through closing. These factors have garnered us praise and tremendous client loyalty through the years. We’ll help you to meet your goals and work with you to create a plan of action that provides a comprehensive approach for your needs.
For more information about our services contact Somma Associates LLC (201) 646-1234 SOMMAREALESTATE.COM Retail/Shopping Centers | Office Buildings | Warehouses Vito DeGennaro Broker, Salesperson Frank Somma Broker
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