HUDSON COUNTY, NJ — Gebroe-Hammer Associates’ senior vice president Nicholas Nicolaou has finalized the disposition of a 118-building, 2,137-unit Hudson County multi-family portfolio on behalf of a single seller, a private unnamed investor. In total, the Gateway portfolio was broken out into six separate packages sold for a combined total of $327,846,200. The properties are located throughout Jersey City, West New York, North Bergen, Guttenberg and Union City.
“The Gateway Portfolio in its entirety and as separate packages presented an extremely rare multi-family investment opportunity,” said Nicolaou. “It marked the highest concentration of for-sale stabilized assets in Hudson County ever to come to market at a time when asking rents for this apartment submarket are expected to advance upward of 6% over the next couple of years.”