LIVINGSTON, NJ-The quick closing of 10 recent trades orchestrated by Gebroe-Hammer Associates for $27.66 million is a sign, the company tells GlobeSt.com exclusively.

The deals, closed over a 22-day period, comprise 429 units in Bergen, Essex, Hudson, Union and Middlesex counties, including 108 units at 1 Woodbine Avenue in Avenel; 22 apartments and three office spaces at 34 Wisse Street in Lodi; 16 residential and two commercial units at 519 Central Avenue in Jersey City; nine units at 10 Berton Place in Nutley; six units at 446-448 Nye Avenue in Irvington, and a note sale on 13 units at 1348 West Front Street in Plainfield.

“We are entering a new era of residential living,” Ken Uranowitz, managing director, tells GlobeSt.com. “The American dream of owning a home no longer exists, and it will be that way well into the foreseeable future.”

The consumer has been spooked by a jittery economy, negative television commentary and a turbulent stock market, he says. But people still need a place to live, and rental units are the answer – and worth their weight in gold for investors at a time when the 10-year Treasuries are yielding less than 2%.

“It’s extremely stable right now,” Uranowitz says. “There are boatloads of funds and private investment firms with hundreds of millions of dollars looking for a home.”

Even Class B and Class C properties are attracting interest, as owners comptemplate renovations to serve an ever-growing market. Northern New Jersey is particularly attractive, the company says because of its mass transit and strong population.

“There’s not enough to meet demand,” Uranowitz says. “It’s creating an upsurge in value.”

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