LIVINGSTON, NJ–The multifamily market in New Jersey remains on an upward trajectory through the third quarter and into the final months of the year, with market fundamentals favoring apartment rentals, says Ken Uranowitz, president of Gebroe-Hammer Associates.

“Just when you think multi-family investments and apartment rentals may have reached their peak, you look at the numbers – which speak for themselves – and are struck by asking rents, occupancies, and per-unit pricing that continues to trend upward,” says Uranowitz. “Within multifamily investing, there is one constant theme – people will always need a place to live. Apartment-rental properties have – and will continue – to fill this basic need for every population demographic, from the working-class to affluent professionals.”

The Livingston, NJ-based firm, which specializes in multi-family properties, has closed 108 deals this year so far, totaling 9,664 units and more than $1.4 billion in sales. During Q3, Gebroe-Hammer achieved $402.29 million in sales, which include highest-price-per-unit milestones in submarkets like Hudson County, NJ's West New York and Union City. In total, the firm closed 10 separate transactions countywide during the latest quarter.