EAST ORANGE AND ORANGE, NJ—In East Orange/Orange, where transit-fueled multifamily investment is facilitating a regional renaissance, Gebroe-Hammer Associates managing director David Oropeza spearheaded two separate portfolio sales yesterday totaling $29.29 million and 308 units.
These latest transactions follow four sales involving 170 apartment-rental units that sold for a combined $12.82 million earlier this month.
“East Orange is well on its way to becoming the next major North Jersey-metro hub associated with multi-family investment,” says Oropeza. “During the past three to four years in particular, apartment buildings in close proximity to transit have attracted heightened private investment to the city and, in turn, has fed neighborhood revitalization.”
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Steve Lubetkin
Steve Lubetkin is the New Jersey and Philadelphia editor for GlobeSt.com. He is currently filling in covering Chicago and Midwest markets until a new permanent editor is named. He previously filled in covering Atlanta. Steve’s journalism background includes print and broadcast reporting for NJ news organizations. His audio and video work for GlobeSt.com has been honored by the Garden State Journalists Association, and he has also been recognized for video by the New Jersey Chapter of the Society of Professional Journalists. He has produced audio podcasts on CRE topics for the NAR Commercial Division and the CCIM Institute. Steve has also served (from August 2017 to March 2018) as national broadcast news correspondent for CEOReport.com, a news website focused on practical advice for senior executives in small- and medium-sized companies. Steve also reports on-camera and covers conferences for NJSpotlight.com, a public policy news coverage website focused on New Jersey government and industry; and for clients of StateBroadcastNews.com, a division of The Lubetkin Media Companies LLC. Steve has been the computer columnist for the Jewish Community Voice of Southern New Jersey, since 1996. Steve is co-author, with Toronto-based podcasting pioneer Donna Papacosta, of the book, The Business of Podcasting: How to Take Your Podcasting Passion from the Personal to the Professional. You can email Steve at [email protected].
