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Gebroe-Hammer Arranges $3.77 Million Essex County MF Asset Sale

LIVINGSTON, NJ—Transaction activity in Essex County, N.J.'s multifamily investment market continues to accelerate, with the recent sale of a $3.77 million asset in Belleville arranged by Gebroe-Hammer Associates.

By Steve Lubetkin | Updated on November 20, 2014

BELLEVILLE, NJ—Transaction activity in Essex County, N.J.’s multi-family investment market continues to accelerate, with the recent sale of a $3.77-million asset in Belleville arranged by Gebroe-Hammer Associates. The firm’s market specialist team of vice presidents Nicholas Nicolaou and Stephen Tragash exclusively represented the seller and identified the buyer.

The well-maintained 242 Washington Ave. complex is a five-story, elevator building, consisting of 36 studios, 9 one-bedroom units and 6 two-bedroom units. With a brick, Tudor-style façade, the building recently underwent extensive renovations, including updating kitchens, bathrooms and windows. It features 27 garages and laundry facilities and is within walking distance to shops, restaurant and the public library. The property’s location also offers easy access to major highways as well as bridges and tunnels to New York City.

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