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Gebroe-Hammer arranges 3 multifamily sales totaling $22.6M in Bergen/Passaic, NJ apartment submarket



Hackensack/Fairview/Passaic, NJ — In Bergen and Passaic counties, where effective rents are projected to advance modestly through 2019, Gebroe-Hammer Associates has arranged three separate transactions totaling 145 units sold for a combined $22.6 million. The brokerage team of executive managing director David Oropeza and senior vice president Nicholas Nicolaou, along with executive vice president Greg Pine, arranged the sale of a three-property package in Hackensack for $18 million while senior vice president Debbie Pomerantz orchestrated two sales involving a low-rise building in Fairview as well as a garden community in Passaic.In the Hackensack trade, Gebroe-Hammer represented the seller and procured the buyer of 115 total units at Regency Apartments, 50 Anderson St.; 46 Anderson St.; and Park Lane Apartments, 430 Union Ave. Each is situated adjacent to Anderson Park and within steps of NJ Transit’s Anderson Street/Union Avenue bus stop on the corner. Collectively, the mid-rise buildings have elevators and feature a mix of layouts ranging from one- to four-bedrooms.

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