Mid Atlantic Real Estate Journal — November 8 - 21, 2013 — A
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M id A tlantic R eal E state J ournal H 20 Garden Apartment-Style Units in Bergen County Gebroe-Hammer Associates announces $2.5m trade A S B R O U C K HEIGHTS, NJ — Demonstrating its
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continued expertise in Bergen County’s multi-family market- place, Gebroe-Hammer As- sociates recently arranged the $2.5 million sale of Grandview Apartments, a 20-unit garden- style community in Hasbrouck Heights. The Gebroe-Hammer brokerage team, including president Ken Uranowitz , se- nior vice president Greg Pine and assistant vice president Debbie Pomerantz , exclu- sively represented the seller and identified the buyer. Situated eight miles from the George Washington Bridge, Grandview Apartments is located near both NJ Transit train and bus stations. “The combination of low interest rates and aggressive real es- tate pricing is driving demand for multi-family investments. Bergen County continues to be one of the strongest and most desirable markets for these properties, and high occu- pancy rates and well-financed investors are the norm,” said Pomerantz. Grandview Apartments is a three-story brick building fea- turing a mix of spacious studio, one- and two-bedroom apart- ments. The complex includes 12 garages and 12 off-site parking spaces as well as on- site laundry facilities. Tenants enjoy easy access to Routes 80, 17, 46 and the Garden State Parkway. The building is within walking distance of local shopping. “Because of Debbie’s in- depth market knowledge and client-focused approach to each transaction, she was able to educate this buyer about the benefits of suburban apartment-rental investments, which only complement the buyer’s existing urban portfo- lio,” said Uranowitz. Legal counsel for the trade was provided by Joseph Bas- ralian, Esq ., of Winne, Ban- ta, Hetherington, Basralian & Kahn, P.C . of Hackensack N.J., on behalf of the seller, and Robert M. Tzall, Esq ., of The Law Offices of Robert M. Tzall of Passaic , for the buyer. The Grandview Apartments sale comes on the heels of the recent $7.65 million sale of 32 multi-family units in Rochelle Park, N.J. Market specialist Pomerantz identified the buyer in this trade as well. n
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