Uranowitz says that the location of Teaneck and Paterson properties - both offering easy commutes to Manhattan and other job centers – put them “high on any investor’s wish list.”

The Bergen County sale of 63 Washington Place was brokered by Greg Pine. That three-story brick building with mostly one-bedroom units was built in 1940. Both the buyer and seller are long-time Gebroe-Hammer clients, says Pine.

“This property, which was in bankruptcy court, was an all-cash transaction,’’ he says. “The new owner plans to implement a renovation program in order to turn the property around and position it more competitively in this robust rental market.”

According to Gebroe-Hammer, average rents for a one-bedroom unit in Bergen County start at approximately $1,100.

In Paterson, the brokerage team of Uranowitz and Debbie Pomerantz arranged the portfolio note sale for an unidentified New York Bank. This is the twelfth sale Gebroe-Hammer has orchestrated for the bank in the past 18 months.

The properties, located on Jackson Street, Oak Street, Washington Avenue, Broadway, Godwin Avenue and Sussex Street, were sold to a private investor.

Paterson is a favorite of commuters, Uranowitz says. The city has direct access to I-80 and Routes 4, 19 and 20. Routes 46, 3, 17, 21, 208 and the Garden State Parkway are nearby.