8C — July 28 - August 10, 2017 — Brokerage Directory — M id A tlantic Real Estate Journal


B rokerage D irectory

ivingston, NJ — Multi-family invest- ments are bringing the Averaging a record four sales per week Gebroe-Hammer Associates hits its stride in June with 16 sales totaling 1,290+ units / $181.42M for the month L

total of 16 sales encompassing a combined 1,290+ units sold for more than $181.42 million. “Multi-family transactions are certainly not showing any signs of deceleration,” said Ken Uranowitz , president and a 42-year industry vet- eran with Gebroe-Hammer. “The month of June turned out to be a chartbuster for us, averaging a record four sales per week. And of the 16 deals we closed, three were portfolio sales representing a total of 967 units.” The properties spanned New Jersey’s Bergen, Essex,

Hudson, Monmouth, Morris, Ocean and Passaic counties as well as Pennsylvania’s Le- high Valley and Philadelphia submarkets. Asset classes ranged from a two-property 532-unit value-add South Jer- sey/Pennsylvania package to pre-war-era midrises poised for repositioning in bustling city-center neighborhoods. “Today’s multi-family in- vestment environment re- mains quite robust. Demand is still way off the charts, especially for properties in high-barrier locations primed for value-add op- portunities, most commonly associated with long-term owners who find themselves at a crossroads,” explained Uranowitz. “These owners recognize that in order to vie for ten- ants in the region’s high-end/ transit-accessible neighbor- hoods, they must consider implementing their own capi- tal improvement programs or take some ‘chips’ off the table in this highly competitive market,” he said. “Under- standably, original owners and developers are opting for the latter at a time when new development remains active, borrowing costs are low and tenant demand is keeping up.” Gebroe-Hammer’s midyear benchmarks follow a strong Q1 and Q2 overall, with the firm recording the North Jersey Metro’s two largest sales during the past 12 months, according to REIS. In January, the firm’s mar- ket specialists arranged the $130 million sale of Nob Hill in Roseland for $361,111 per unit and the $100 million sale of Cedar Wright Gardens in Lodi for $155,763 per unit. Gebroe-Hammer is the leading and most trusted multi-family investment sales brokerage firm in the New Jersey/Eastern Penn- sylvania/New York State region. In 2016, the firm closed more than 132 deals involving 12,117 total units sold for $1.83+ billion while concentrating on suburban and urban high-rise and garden-apartment properties throughout the Northeast and nationally. Gebroe-Hammer also markets mixed-use and free-standing office and retail properties. Widely recognized for its consistent sales perfor- mance, the firm is a 14-time CoStar Power Broker. n

hea t , f r om the region’s i n - d ema n d urban down- t o w n d i s - tricts to the picturesque highland and c oas t a l r e - gions, accord-

Ken Uranowitz

ing to the investment brokerage professionals at Gebroe-Ham- mer Associates of Livings- ton. In June alone, the firm’s market specialists recorded a

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