8A — November 23 - December 6, 2012 — Owners, Developers & Managers — Mid Atlantic Real Estate Journal
www.marejournal.com O WNERS , D EVELOPERS & M ANAGERS Multi-family investing hits its stride with brisk pace Gebroe-Hammer records 30 deals, $100+m in Q3 sales
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demonstrates that market fun- damentals have dramatically improved and demand contin- ues to surge,’’ said Uranowitz, a 37-year Gebroe-Hammer in- vestment brokerage veteran. Northern New Jersey re- mains quite fertile due to its high concentration of existing multi-family properties. The region’s tenant base also is primarily comprised of young professionals whose lifestyle needs are driven by proxim- ity to transportation hubs and direct access to New York City. With a high density of existing apartment buildings through- out Essex, Bergen and Hudson counties, the Northern/Central New Jersey corridor continues to lure investors who are seek- ing stability and an opportunity to enhance their investment portfolios. In Hudson County, Gebroe- Hammer’s market specialists orchestrated four separate transactions totaling $5.925 million involving 77 apartment- rental units and four ground- floor retail units in Jersey City and Union City. In Newark and East Orange, the firm exclu- sively represented long-term A certified Project Manage- ment Professional (PMP), she has served as president and board member of the NYC chap- ter of the Project Management Institute (PMINYC); founding member of the Transportation Diversity Council, vice-president and board member of the Council of Minority Transportation Of- ficials (COMTO-NYC); and as a member of the Security Advisory Committee ofASIS International.
clients in two Essex County sales netting $10.225 million for 183 units. Rounding out Gebroe-Hammer’s impressive trading pace were two sales in Bergen County, which included 84 units sold for $12.35 million in East Rutherford and 24 units in Dumont that netted $2.75 million. In addition to focus- ing on northern, central and southern New Jersey, Gebroe- Hammer’s market specialists report high levels of activity in Pennsylvania as well. The most recent transaction involved the $23.25 million sale of 352 units in Bensalem, PA. “Affordability, a highly un- stable single-family housing market and the appeal of living in transit-oriented locations are all major factors that are drawing more people than ever before to an apartment-living lifestyle,” added Uranowitz. “Across the board, vacancies are declining, rental rates are steadily rising and there is little-to-no new development drawing young professionals and working-class families away from the current in- ventory of class A, B and C buildings.” ■ Dawson is also a retired military ordnance and logistics officer, bri- gade commander, and a veteran of Operation Iraqi Freedom. PWC president Lenore Janis says, “We are thrilled to be able to honor a woman whose blend of courage and professionalism have led her to a position of true leadership in the industry.” She notes too that this is one of PWC’s most popular events, “a rare op- portunity to network in a festive atmosphere with some of the industry’s leaders and decision makers; it’s a time to see and be seen.” ■
IVINGSTON, NJ — New Jersey’s multi-fam- ily market hit its stride
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dur ing Q3 , returning to pre-recession f un d ame n - tals and an imp r e s s i v e transaction pace, accord- ing to Ken Uranowitz ,
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Ken Uranowitz
managing director of Gebroe- HammerAssociates . The firm arranged 30 multi-family deals totaling 1,400 units valued at more than $100 million. In one four-week timeframe alone, Gebroe-Hammer closed 13 deals representing 724 units, which sold for in excess of $54 million. “Over the course of the last two years, the multi-family market has emerged as the strongest commercial property type, in terms of overall de- mand and asset appreciation. The last few months represent a milestone for the market- place and our firm, both in the historic number of closed deals and the cumulative value of these transactions. It clearly
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NEW YORK, NY — On Fri- day, December 14, Profession- al Women in Construction PWC to honor PANYNJ’s Dawson at Holiday Gala Rail; as well as all operations, services and public safety depart- ments. She was most recently the Authority’s chief of staff.
(PWC) wi l l honor Stepha- nie Dawson , acting COO of the Port Authority of New York & New Jersey at its annual holiday black tie dinner dance gala.
Stephanie Dawson
Dawson is responsible for aviation; tunnels, bridges, and terminals; Port Commerce; PATH
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