Icon Real Estate Advisors debuts in the Mid-Atlantic with $35.1 Million sale of The Grove At Piscataway

Multifamily investment sales firm completes 110-unit class A trade in Piscataway, NJ

WEST ORANGE, NJ — ICON Real Estate Advisors, a newly formed multifamily investment sales firm focused on the Mid-Atlantic region, announced the launch of its platform and the completion of its inaugural transaction: the $35.1 million sale of The Grove at Piscataway, a class A 110-unit apartment community in Piscataway.

ICON represented the seller, a privately held real estate development and investment firm, in the transaction. Delivered in 2020 and currently 100% occupied, The Grove at Piscataway is located at 67 Old New Brunswick Road, centrally positioned in Middlesex County with immediate access to major highways and key employment hubs in New Brunswick and Edison. Quietly marketed at the seller’s request, ICON generated multiple offers and guided the seller in selecting a buyer completing a 1031 exchange. Twenty-two COAH affordable housing units are fully integrated, and residences feature high-end finishes, in-unit laundry, and select private balconies or patios. The community also offers resort-style amenities, including a pool, fitness center, coworking and social lounges, and secure parking with EV charging.

Headquartered in West Orange, New Jersey, ICON was co-founded by managing partners David Oropeza and David Jarvis. The firm’s senior team also includes senior managing director Justin Lupo, director David Betesh, and associate Ben Susskind — collectively bringing nearly 100 years of experience and over $20 billion in combined career transaction volume. ICON leverages decades of client relationships that provide deep insight into local owners, investors, and market dynamics, with a focus on multifamily investment sales across New Jersey, New York, Pennsylvania, and the greater Mid-Atlantic.

“Our objective in launching ICON was to build a partner-led platform where experience, relationships, and execution define the business,” said David Oropeza. “The Grove at Piscataway reflects our ability to run a competitive process, highlight an asset’s fundamentals, and deliver results aligned with the seller’s objectives.”

David Jarvis added, “Many of the owners we advise are making decisions involving decades of work and generational assets. They deserve senior-level attention and a process designed to create competition, deliver certainty, and keep the client’s priorities front and center.”

With more the $500 million in collective asset value deals in the works, ICON Real Estate Advisors is poised to shake up the multifamily sales across the Mid-Atlantic region.

About the Team

Shown from left: ICON associate Ben Susskind; managing partners David Jarvis and David Oropeza; senior managing director Justin Lupo; and director David Betesh.

David Oropeza built his career over 38 years at Gebroe-Hammer Associates, consistently ranking among the firm’s top producers and playing a central role in expanding its presence across New Jersey through long-standing owner relationships and repeat institutional business. He later joined Cushman & Wakefield as an executive managing director of Multifamily Brokerage, adding broader institutional platform exposure while continuing to advise clients on complex, competitive dispositions.

David Jarvis spent more than 25 years at Gebroe-Hammer Associates, advising private owners, family offices, and institutional investors on the acquisition and disposition of multifamily assets throughout New Jersey and the surrounding region. Known for hands-on execution and disciplined sale processes, Jarvis later joined Cushman & Wakefield as an executive managing director, where he continued to lead multifamily investment sales assignments for a wide range of clients.

Justin Lupo helps drive ICON’s client coverage and transaction execution across the firm’s footprint. Lupo spent more than nine years at The Kislak Company as a senior vice president, where he built long-term relationships with owners and repeat buyers and executed multifamily investment sales assignments across the region. He later joined Cushman & Wakefield for nearly two years as an executive managing director, expanding his institutional advisory experience and capital relationships across the Northeast.

David Betesh brings an execution-first background across both institutional and private client assignments. Betesh previously served at Cushman & Wakefield and began his career at Gebroe-Hammer Associates, where he developed a strong foundation in New Jersey multifamily brokerage. At ICON, Betesh is focused on running high-conviction sale processes, buyer engagement, and driving certainty from marketing through closing.

Ben Susskind joins ICON from Hudson Atlantic, where he was involved in multifamily investment sales assignments and client advisory work across the region. At ICON, Susskind plays a key role in the firm’s growth as a broker, leveraging deep-rooted relationships with multifamily owners across New Jersey while originating new opportunities and advising owners and investors on acquisitions and dispositions throughout the firm’s footprint.

ICON Real Estate Advisors is headquartered at 1 Boland Drive, Floor 2, West Orange, NJ 07052.