Gebroe-Hammer Associates Reports Central NJ Multi-Family Market Continues to Attract Investors

April 5, 2012 - PRLog -- Strategic location continues to be the draw for multi-family investors in Middlesex County and central New Jersey, according to Joseph Brecher, executive vice president of Gebroe-Hammer Associates, based in Livingston, N.J. The market specialist recently arranged the sale of four Jamesburg apartment buildings comprised of 39 total units, located just one mile off the New Jersey Turnpike Exit 8A exchange.

"Jamesburg has the advantage of being nestled between Fortune 500 companies, suburban residential neighborhoods and major transportation networks, all of which strengthen the tenant pool and positively influence long-term property performance," said Brecher. "The borough also has a lower unemployment rate thanks to its proximity to major employment centers, including Rutgers University, Middlesex County College and Princeton University."

Situated in southern Middlesex County, Jamesburg is anchored by a downtown shopping district, Thompson Park and Lake Manalapan. This thriving live/work/play municipality is served by the John F. Kennedy School and Grace M. Breck Wedel Middle School, which is a short walk from the properties.

Brecher represented the seller, Jamesburg Apartments LLC, and identified the buyer, Jamesburg Realty Partners LLC, in the trade of 6-8 Vine Street, 16 Lake Street, 8 Cherry Street and 123 Stevens Avenue, which sold for $2.66 million. Each of the two-story complexes is within a one-mile radius and has one-bedroom units as well as on-site parking. According to Gebroe-Hammer, average rents for the area are approximately $825 for one-bedroom units.

Legal representation was provided for the seller by Morris Silberberg, Esq., of Silberberg & Klein in Howell, and the buyer by Scott Herzog, Esq., in Fort Lee.

Gebroe-Hammer Associates specializes in multi-family, retail and office property investment sales throughout New Jersey, New York, and Pennsylvania, including Philadelphia. Established in 1975 by industry icons Mel Gebroe and Morris Hammer, the award-winning firm is widely recognized for its consistent sales performance and is an eight-time CoStar Power Broker.

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About Gebroe-Hammer Associates: An industry leader for 35 years, Gebroe-Hammer is among the tri-state region's most influential brokerage firms, specializing in the sale of multi-family, retail and commercial investment properties. The company provides innovative brokerage services to a wide range of private owners, REITS, private equity firms and other institutional investors. Gebroe-Hammer's proven track record on behalf of its clients has resulted in consistent growth every year since its inception, with a large percentage of repeat business from owners and investors. The firm's brokerage activity encompasses diverse property categories, ranging from suburban high-rise, mid-rise and garden-apartments to retail and office properties including real estate in urban areas undergoing revitalization and redevelopment initiatives.