M id A tlantic Real Estate Journal — Owners, Developers & Managers — July 24 - August 13, 2020 — 3C
www.marej.com
O wners , D evelopers & M anagers
3,009 units trade in 33 deals across North, Central & South Jersey/Greater Phila. Metro Gebroe-Hammer Associates reports $458.79M in multifamily sales at midyear 2020 L
and persisting through many cyclical shockwaves gives us a unique advantage in our capabilities and experience in closing deals – even in this unprecedented and challenging period we are currently going through,” said Uranowitz. “As businesses and the industry gradually reopen, Gebroe-Ham - mer Associates is already an- ticipating next-phase property owner and investor needs and shifting our business practices accordingly to market proper- ties and continue closing deals.” Since 1975, Gebroe-Hammer’s brokerage activities have con -
centrated on all multifamily types including class A, C and C high-rise and garden-apartment properties. While initially focus- ing on New Jersey, the Livings- ton, NJ-based firm has evolved during the past 45 years to also dominate the northeasternPenn- sylvania and New York State submarkets as well as represent client interests nationally. Wide- ly recognized for its consistent sales performance, the firm is a 16-time CoStar Power Broker and is credited with arranging the largest portfolio sale in 2019 for the MidAtlantic Region and in New Jersey. MAREJ
IVINGSTON, NJ — A strong Q1 for Gebroe- Hammer Associates and an agile approach to final - izing multifamily sales trans - actions during COVID-19’s Q2 have yielded an impressive total of 33 deals sold for $458,791,000 and 3,009 units at the midyear mark for the Livingston, NJ- based investment brokerage firm. Nationally ranked as a leader in the apartment-prop- erty sales category, Gebroe- Hammer is active throughout New Jersey, Pennsylvania and New York State as well as the entire Northeast. “We swiftly adjusted our sails in February, followed by addi - tional modifications in March, April, May and even June, to support our market specialists and their response to never- before-encountered situations during COVID-19’s most severe period,” said president Ken Uranowitz . “These bench - marks speak to our company’s ability to go into the unknown with eyes wide open and draw on the vast experiences of our team – a majority of whom aver - age over 20 years with our com- pany – in order to address new scenarios. These unprecedented times called for creativity and tenacity – and Gebroe-Hammer is delivering.” In addition to shifting to virtual meetings and endless phone calls, Gebroe-Hammer Associates’ brokerage profes - sionals tapped into their re- sourcefulness for getting deals done. One example of this in - novative mindset includes one- on-one outdoor socially distant meetings – an idea that took hold long before the warmer weather set in. Deal FlowRemains Steady inQ2 From April through June, during the height of stay- at-home orders across the Northeast, Gebroe-Hammer’s market specialists arranged North and Central Jersey sales totaling 290 units sold for $57,541,600. The proper - ties were located throughout East Orange, Woodbridge Township, Hackensack and North Hudson County. Fea- tured sales included Ham- ilton House in Weehawken ($25.6M), 24 units in Hack - ensack ($3.81M) and a five- property, 72-unit class A port- folio in the Avenel and Colonia neighborhoods of Woodbridge Twp. ($21.3M). Rounding out Gebroe-Hammer’s Q2 bench - marks are Philadelphia/South
475 Avenel Ave., Woodbridge, NJ
Jersey sales of 1,075 total units sold for $61.1M.
"The benefit of being in busi - ness for the past 45 years
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