4B — September 11 - 24, 2020 — New Jersey — M id A tlantic Real Estate Journal


N ew J ersey

Gebroe-Hammer market specialist keeps deals on track in COVID-19 economy Nicolaou records $75.49M / 218 multifamily units sold alongNYMetro’s HudsonWaterfront during June &July


at McGinley Square, which sold for $23.75M, features 58 newly constructed class Amul- tifamily units atop 3,200 s/f of prime commercial space, and the $19.5M St. George Har- rison Apartments is a newly developed 60-unit midrise in Harrison’s most in-demand section. Nicolaou represented the seller (KABR Group) and procured the buyer (Tenth Avenue Holdings Proper- ties) in the former and rep- resented the seller (Madison Hill Properties) while serv- ing as a member of the broker- age team that procured the buyer (SELA Realty Invest- ments) in the latter. The sale of St. George Har- rison Apartments also con- cluded the disposition of a 950-unit multifamily portfolio that spanned several Northern New Jersey municipalities. During the past 18 months, Nicolaou arranged $201.1M in sales on behalf of Madison Hill Properties and identified each of the buyers, based on their unique investment needs. Trades included the $75M sale of 487 units and 18 build- ings in Union City, Bergen- field and Lodi; $58.5M sale of 232 units at New Providence Gardens in New Providence; $35.25M sale of 118 apart- ment-home units at Chatham Village in Chatham Twp.; and the $12.85M sale of Beech Spring Apartments, a 53-unit garden-style apartment com- munity in Summit’s Spring- field Avenue section. Since the start of the year, Nicolaou also has orchestrated the $87M trade of a prominent high-rise near the Hudson Waterfront; $25.5M sale of the class AMetropark Portfolio in- volving 87 luxury apartment- home and townhome rental units inWoodbridge Twp.; and the $9.75M sale in August of a two-property multifamily portfolio in Journal Square / Jersey City. “Continual engagement and facetime – not necessarily the iPhone kind – with property owners, prospective buyers and every individual or group involved in the exclusive-to- closing process is the founda- tion for my client-centered approach to every deal,” said Nicolaou. “These past two months are proof my approach is effective in one of the most historic economic cycles char- acterized by the shockwaves of a pandemic.” MAREJ

County/North Jersey market specialist kept every under- contract building on track for June and July closings while also winning new business. It was during this two- month period that Nicolaou represented four separate sell- ers and spearheaded Gebroe- Hammer’s brokerage teams in procuring the individual buyers of 218 units. Total sales across Hudson County dur- ing this timeframe exceeded $75.49M. “Niko is a strategic thinker who has built his reputa- tion on possessing the sharp- est understanding of market

conditions, above that of his competitors, and overcoming impossible odds with tenacity and intelligence. Most impor- tantly, he embodies the high- est form of integrity even in the most challenging of times and beyond – such as a once- in-a-century pandemic,” said Ken Uranowitz , president of Gebroe-Hammer, who col- laborated with Nicolaou on the $25.6M trade of 99 units at Hamilton House in Wee- hawken in early June. “Long considered a rising star in the multifamily broker- age business, he has made the leap to ‘multifamily influencer’

status,” he said. “By earning this distinction, he is now one of the most trusted and re- spected names and advisors in not only Hudson County and North Jersey, but the entire investment brokerage indus- try at large.” In addition to the Wee- hawken trade, Nicolaou also recorded a number of note- worthy transactions finalized between early June and mid- July. These include two Class A residential anchors in the up-and-coming Hudson Coun- ty neighborhoods of McGinley Square in Jersey City and East Newark. The Fairmount

UDSON COUNTY, NJ — Since March, it seems wherever

t he r e i s a multifamily investment opportunity i n Huds on County, NJ, G e b r o e - H a m m e r Associate s’ e x e c u t i v e

Niko Nicolaou

vice president Niko Nicolaou is at the helm. During this time – which coincides with the complete economic halt and gradual reboot associated with COVID-19 – the firm’s Hudson

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