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  • Record-low vacancy rates and modest construction

Gebroe-Hammer Associates arranges $20.32 million in Central Jersey multi-family sales

MIDDLESEX/MONMOUTH COUNTY, NJ — Central New Jersey’s record-low multi-family vacancy rates and modest construction boom continue to bode well for apartment-building investments, according to the brokerage professionals at Gebroe-Hammer Associates based in Livingston, N.J. The region has been the focus of recent multi-family sales totaling $20.32 million and 118 units throughout Perth Amboy, Bradley Beach, Eatontown and Neptune where Gebroe-Hammer exclusively represented each of the sellers and/or procured the buyers. “With over 177,000 apartment units, Central New Jersey is an extremely attractive metro thanks to its historically stabilized occupancy-rate track record – which is projected to exceed 97% through 2022 – and continued run of moderately rising rents,” said Adam Zweibel, vice president and the firm’s area market specialist.

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