• Apartments play integral role in the ‘new normal’

Gebroe-Hammer Associates reports $316.4m in multifamily sales for Q1 2020

Livingston, NJ — Gebroe-Hammer Associates, a nationally ranked multifamily-focused investment brokerage firm, has reported $316.4M in sales for a total of 1,574 units at the close of Q1 2020. The firm, which is marking its 45th anniversary this year, orchestrated the 18 transactions on behalf of private owners, family offices, private equity funds and institutional investors with local, regional, national and global interests.“The first quarter of the year marked a ‘carry-over’ of the same historic multifamily investment confidence that fueled one of the longest and most aggressive apartment-property investment cycles in history,” said Ken Uranowitz, president, a 45-year industry veteran who joined the firm at its inception. During the first quarter, Gebroe-Hammer arranged sales across New Jersey, the Greater Philadelphia metro and New York State. Examples of the transaction-type spectrum include a new-construction class A apartment building in Woodbridge, NJ, where the price per unit was $280,000; three unnamed single-property sales (one new construction/two value-add) in North, Central and South Jersey collectively encompassing 485 units sold for a combined $127M; and a portfolio trade on behalf of an unnamed seller and buyer totaling over 300 units in southeast New York State.Multifamily’s New Normal“Now, as a society and as an industry, we find ourselves in unchartered waters due to the sudden and abrupt measures imposed to slow the spread of COVID-19,” said Uranowitz. “While there are challenges that can only be fully addressed with the passage of time, health and well-being remain paramount. READ MORE

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