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Follow on Google News | Gebroe-Hammer Associates Finalizes Sale of 23 Units in Asbury Park, N.J.Two-Building Complex Trades for $1.525 Million
By: Amy Rohrbeck "This type of property is a unique investment opportunity, with tremendous value-add potential, because of its residential neighborhood location and Sunset Lake views. The beach, local attractions, shopping and dining also are just a few blocks away," said Follman. "Given the current market, the ability to match an investment property such as this with an appropriate buyer is paramount." The two-building complex includes six studio, 15 one-bedroom and two two-bedroom units. Each of the two-and-a-half- "Asbury Park continues to rebound as a live/work/play destination, resulting in heightened investment interest in existing multi-family properties citywide and throughout the surrounding communities," Established in 1975, Gebroe-Hammer Associates specializes in multi-family, retail and office property investment sales. With a concentration on suburban and urban high-rise, mid-rise and garden-apartment properties, the firm also markets mixed-use and free-standing office and retail properties throughout New Jersey, New York and Pennsylvania. # # # 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. End
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