Gebroe-Hammer Associates arranges $11.6M sale of 76 units in East Orange, NJ
EAST ORANGE, NJ — Within New Jersey’s East Essex cluster of urban municipalities primed for smart-growth and revitalization, Gebroe-Hammer Associates has arranged two separate apartment-property sales spanning the cities of East Orange and Irvington. Executive managing director David Oropeza was involved in both transactions while the latter also included executive vice president Niko Nicolaou as a member of the brokerage team. In East Orange, known as the “Crossroads of New Jersey,” Oropeza represented the seller, Milrose 243 Harrison LLC, and procured the buyer, a private investor, in the $11.6M trade of 76 units at 243 South Harrison St. The single 10-story building features all one-bedroom/one-bath layouts with vaulted ceilings. Built in 1962, the hi-rise underwent extensive renovations prior to sale that included new hardwood flooring throughout, updated kitchens with granite countertops and baths, and renovated community spaces, elevators and building systems.