LIVINGSTON, NJ-Brokerage firm Gebroe-Hammer Associates reports it completed 27 multifamily property closings this past October and November. The transactions totaled $135.95 million in transactions and 1,515 residential units.
“The volume is indicative of how attractive multi-family investment properties are, with demand currently at a peak,” states Ken Uranowitz, president of Gebroe-Hammer Associates. “It also highlights our expertise and relationships serving owners, investors and financial institutions as well as the growth and deep market knowledge of our sales teams.”
Gebroe-Hammer represented sellers and procured buyers in the activity. Among the major transactions included: a $24-million sale involving 399 units in the East Orange-Orange area brokered by the firm's David Oropeza; a $10-million deal involving a 175-unit property in Mercer County brokered by Joseph Brecher; a $5.2-million sale of a 57-unit development in Union City brokered by Niko Nicolaou; and two deals brokered by Uranowitz and David Jarvis involving a $4.3-million sale of a 27-unit in Caldwell and a $3.7-million deal of a 22-unit property in Montclair.
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