O wners , D evelopers & M anagers
Mid Atlantic Real Estate Journal — Section B
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October and November activity reflects strong demand, established teams Gebroe-Hammer completes 27 multi-family sales totaling $135.95 million in just two months
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IVINGSTON, NJ — Gebroe-Hammer Associates , one of
how attractive multi-family investment properties are,with demand currently at a peak,” said Ken Uranowitz , presi- dent. “It also highlights our expertise and relationships serving owners, investors and financial institutions as well as the growth and deep mar- ket knowledge of our sales teams.” Gebroe-Hammer represented sellers and procured buyers in
the activity, often bringing both sides of the table together ac- cording toUranowitz. “We have many repeat clients which reflect the long-term relation- ships we share,” he said. High- lights during the two-months included the following New Jersey transactions and sales people: • East Orange/Orange: $24 million, 399 units, six-building portfolio – David Oropeza
• Mercer County: $10 mil- lion,175-unit property – Jo- seph Brecher • Union City: $5.2 million, 57 units in multiple buildings – Niko Nicolaou • Caldwell: $4.3 million, 27- unit property – Ken Uranowitz and David Jarvis • Montclair: $3.7 million, 22-unit asset – Ken Uranowitz and David Jarvis . Gebroe-Hammer Associates
specializes in suburban and urban high-rise, mid-rise and garden-apartment properties throughout New Jersey, New York and Pennsylvania, in- cluding Philadelphia. The firm also markets mixed-use and free-standing office and retail properties on behalf of a wide range of long-term clients, in- cluding private owners, REITS, private equity firms and other institutional investors. n
New Jersey’s busiestmulti- family invest- ment sales companies, completed 27 property clos- ings in just two months this fall. The
Ken Uranowitz
record results in October and November totaled $135.95 mil- lion in transactions and 1,515 residential units. “The volume is indicative of HI-LIGHTS Jan. 31 - Feb. 13, 2014 SELA Properties acquires two buildings for $4.4m
Milam, Merrey, Chadwick & Drane close transactions totaling 189 units Marcus & Millichap’s DC office arranges $8.975 million in multifamily sales
Washington, DC — Mar- cus &Millichap Real Estate Investment Services has announced the sale of Martin’s View Apartments, a 156-unit apartment property located in Washington, DC, according to Bryn Merrey , regional man- ager of the firm’s Washington, DC office. The asset sold for $7.1 million. Stacey Milam , an invest- ment specialist in Marcus & Millichap’s Washington, DC office, had the listing to mar- ket the property on behalf of the seller, a limited liability company. The buyer, a limited liability company, was secured and represented by Milam. Merrey, assisted in closing this transaction. Martin’s View Apartments is located at 205 Elmira St. SW in Washington, DC. Situated on a 4.91-acre lot, Martin’s View is an eighteen-building complex that has over 148,000 s/f of space allowing for large spacious units for the residents. The property has a favorable unit mix consisting of 100 one-
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Martin’s View Apartments
Pretty Lake Landing Apartments
Binswanger brokers sale for Main Line Realty Corp.
Investment Services has an- nounced the sale of Pretty Lake LandingApartments, a 33-unit apartment property located in Norfolk. The asset sold for $1.875 million. Christopher Chadwick and Matthew Drane , invest- ment specialists in Marcus & Millichap’s Washington, DC office, had the listing to market the property on behalf of the
bedroom, one-bath units and 56 two-bedroom, two-bath units. In addition to being situated on a cul-de-sac, offering the residents a quiet and secluded place to live and park their cars, the property also contains an off-street parking lot pro- viding the tenants with ample choices for parking. NORFOLK, VA — Marcus & Millichap Real Estate
seller, a limited liability com- pany. The buyer, a partnership, was secured and represented by Drane and Chadwick. Pretty Lake Landing Apart- ments is located at 2111 Pretty Lake Ave. in the East Ocean View neighborhood of Nor- folk. The property consists of 33 market rate units in two buildings built in 1989 and is situated on two acres. n
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SADDLE BROOK, NJ — CBRE Group, Inc. has brokered the sale of an incom- plete condominium project, Riverwalk at Rahway, on be- half of the seller and buyer. CBRE NY Outer Bor- oughs’ Elli Klapper and Matt Giordano and New CBRE Group Inc. completes $2.125m sale of condo project Jersey Private Capital Group’s Charles Berger completed the $2.125 million transac- tion. The sale consisted of a por- tion of the project’s 86 town- homes in Rahway’s Essex St. Redevelopment area, along the Rahway River. The com- “The market for multi-fam- ily properties in desirable loca- tions is very strong in North- ern New Jersey,” said Berger. “This property represented an opportunity for an investor to acquire a distressed asset with significant upside in a highly sought after location.” n munity lies in a Transit Village within walking distance to New Jersey Transit’s Rahway Train Station. Coupled with a NJ Transit bus stop, residents have quick and direct access to New York and Trenton, as well as Central New Jersey and Shore Points.
ALSO INSIDE Green Buildings........13-17B USGBC NJ........................17B NJAA................................19B IREM........................ 20-IBC-B
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