M ID A TLANTIC Real Estate Journal — New Jersey — September 23 - October 20, 2022 — 3B N EW J ERSEY
www.marej.com
57-unit portfolio offers management ef fi ciencies Gebroe-Hammer arranges $9.4M sale of two- property multifamily package in Southwest NJ C
appeals to an overwhelmingly dominant white-collar work- force comprised of commuters and telecommuters alike.” Collingswood, like many of its Southwest New Jersey counterparts, is extremely well connected via highways and mass transit. U.S. Rte. 30 and U.S. Rte. 130 are the main thoroughfares offering access to I-76/676, I-95/NJ Tpke. and I-295. The borough also is served by three NJ Transit bus routes and the Collingswood PATCO Speedline Park & Ride station with elevated rail service to Philadelphia and
neighboring municipalities. Since 1975, Gebroe-Ham- mer’s brokerage activities have concentrated on all mul- tifamily types from high-rise to garden-apartment proper- ties. While initially focusing on New Jersey, the Livingston based firm has evolved during the past 47 years to also domi- nate Eastern Pennsylvania and New York state submar- kets as well as represent client interests nationally. Widely recognized for its consistent sales performance, Gebroe- Hammer is a 17-time CoStar power Broker. MAREJ
OLLINGSWOOD, NJ — In one of South- west New Jersey’s most in-demand municipalities, Gebroe-Hammer Associ- ates has arranged the $9.4M sale of 57 total units at 136- 198 White Horse Pike & 256 Richey Ave., in the borough of Collingswood. Sales represen- tative and market specialist Eli Herskowitz represented 198 Whitehorse Pike LP, the seller, and procured the buyer, a private investor, in the transaction. Situated just five miles from Center City in the West Collin- gswood/Oaklyn neighborhood, these historically well-occu- pied apartment properties are comprised of 34 one-bedroom units and 22 two-bedroom units. There also is one com- mercial unit. According to Herskowitz, each property has undergone a series of interior updates to select units during the past few years. “Thanks to its commuter- friendly location, prominent positioning as one of a limited number of neighborhood multi- family assets and connectivity to an array of lifestyle offer- ings, the Collingswood Portfo- lio presented new ownership with a rare close-in-proximity multifamily asset acquisition opportunity,” said Herskowitz, who noted the 136-198 White Horse Pike parcel is uniquely contiguous. “As a whole, the portfolio offers immediate- neighborhood building density and shared operational/prop- erty management efficiencies.” Nestled between New Jer- sey’s Camden and Burlington counties as well as Philadel- phia, Collingswood is a historic township where a modern and vibrant lifestyle is rooted in its Downtown District. Situated along a retail-dense section of CR-561, extending from Camden to Haddonfield, the borough is known for its eclec- tic dining and retail options. Home to 13,884 people and five constituent neighbor- hoods, Collingswood also has distinguished itself as the top small-town food scene in America, according to a USA Today ranking. “Long considered a desirable suburban-bedroom commu- nity of Philadelphia, Collin- gswood’s renewed popularity has attracted a new wave of former city dwellers in the post-pandemic recovery,” said
136-198 White Horse Pike
256 Richey Ave.
Herskowitz. “From its charm- ing character to abundant
lifestyle offerings and transit connectivity, Collingswood
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