Gebroe-Hammer Associates records $114.55M in two-county sales since start of year
Monmouth/Burlington County, NJ — Known as one of New Jersey’s fastest growing and rapidly developing transit gateways, the I-195/I-295 Monmouth-Burlington County corridor is buzzing with multifamily investment interest and an ever-expanding tenant pipeline, according to the market specialists at Gebroe-Hammer Associates. Since the start of the year, the firm has arranged five deals across these two counties consisting of 668 units valued in excess of $114.55M. Key recent sales highlights include trades involving 66 units at Palmyra Arms, 50 W. Broad St., in Palmyra and 42 units at Holly House Apartments, 100 Drury Ln., in Asbury Park. These transactions, which total $11.8M and extend from the banks of the Delaware River to the Atlantic Coast, were arranged by the brokerage team of Eli Herskowitz, sales representative, and Joseph Brecher, executive managing director, (Palmyra Arms) as well as senior vice president Adam Zweibel (Holly House). In each, the firm exclusively represented the separate sellers and procured the respective buyers. Since April, both Herskowitz and Zweibel have been engaged by property owners and investors alike throughout this Central-Southwest New Jersey span. Both counties also have gained renewed popularity among city-dwellers seeking alternative rental-living options.