LIVINGSTON, NJ-Northern New Jersey’s semi-urban and suburban commuter hubs throughout Hudson and Essex counties continue to attract multifamily investors as demand intensifies for well-maintained walk-up buildings, according to locally based Gebroe-Hammer Associates. The investment real estate brokerage firm recently closed three separate transactions involving a total of 44 units in Hoboken and South Orange, which traded for a combined $6.35 million.

“Mid-rise walkups, in close proximity to major transportation outlets, are at the forefront of investment demand because they generally have excellent occupancy rates and rental-income performance, despite fluctuating economic cycles,” Joel Schwartz, executive vice president of Gebroe-Hammer, tells GlobeSt.com.

Schwartz, along with Nicholas Nicolaou, area market specialist and sales associate, represented the seller, 323 Bloomfield LP, in the $3.1-million sale of 323-325 Bloomfield St. in Hoboken, NJ. Gebroe-Hammer’s David Schwarz, sales associate, procured the buyer, 323 Bloomfield LLC. The 16 two-bedroom apartments sold for $193,750 per-unit, which is “extraordinary for an early 20th-Century-era walk-up building,” says Nicolaou.