40 Under 40: Stephen Tragash
How do you contribute to your company and/or the industry?
Since joining Gebroe-Hammer in 2006, my focus has been the full spectrum of New Jersey’s multi-family housing stock – from suburban out-commuter and rural bedroom-community apartment complexes in Morris and Sussex counties to urban high-rises in Union County. In total, I’ve spearheaded over $800M in transactions involving 5,000+ units within these submarkets throughout my career and have contributed significantly toward establishing new benchmarks for Gebroe-Hammer. What are some of your most notable recent transactions? At a time when the North Jersey Metro’s multi-family housing stock continues to perform solidly, Union and Morris counties – home to several small-to-mid-sized transit-centric cities – remain among the state’s enduring hotbeds of investment. Within these strongholds Gebroe-Hammer has propelled itself to the multi-family investment forefront with recent sales totaling $22.7M in which I exclusively represented each of the sellers and our brokerage team procured the buyers. These included the $15.45 million trade of Cornell Arms and Pingry Arms and 27 units at 315 W. 8th St., all in Plainfield. Additionally, we closed the sale of 48 units in Elizabeth – a city on the rise – and finalized the sale of an all two-bedroom/two-bath garden-style community in Morristown, which garnered a $233,333 per unit price.