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Gebroe-Hammer Averaged Two NJ MF Sales Per Week in Last 90 Days

LIVINGSTON, NJ–In a market where almost half of the inventory was built before 1970, supply of for-sale product remains tight, as asking rents recently hit a 17-quarter streak of gains, according to Ken Uranowitz, president of Gebroe-Hammer Associates.

By Steve Lubetkin | stevelubetkin | Updated on December 08, 2016

7 Chestnut St., East Orange, NJ 7 Chestnut St., East Orange, NJ, one of the properties recently brokered by Gebroe-Hammer Associates.

LIVINGSTON, NJ–Multifamily properties seem to be selling like hotcakes in Northern New Jersey.

In a market where almost half of the inventory was built before 1970, supply of for-sale product remains tight, as asking rents recently hit a 17-quarter streak of gains, according to Gebroe-Hammer Associates. Throughout the metro’s seven distinct geographic submarkets, the Livingston, NJ-based firm has averaged two North Jersey sales per week in the last 90 days.

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