LIVINGSTON, NJ — With continued headwinds in the single-family homes market and an uncertain economic and political environment keeping renters at bay, robust demand for apartment investment assets in 2018 have paved the path for 2019, according to Gebroe-Hammer Associates. The New Jersey-based firm, which is the top multi-family brokerage firm throughout the New Jersey, New York State and Greater Philadelphia Metro corridor, closed out 2018 with over $1.1 billion in total transactions – a positive indicator of favorable conditions in the next 12 months.
“Since Gebroe-Hammer’s primary focus is multi-family property sales, these totals are solely attributed to apartment buildings that run the full spectrum of asset classes – from Class A trophy buildings to value-add Class B/C midrise properties and garden communities poised for capital improvements, unit renovations and repositioning,” said Ken Uranowitz, Gebroe-Hammer president, who joined the firm at its inception in 1975. “No other firm – regional or national – within our submarkets can even come close to these benchmarks, which exclude office, industrial, retail properties and leasing activity.