CLIFFSIDE PARK AND PATERSON, NJ—With multi-family development peaking this year and next in the Northern New Jersey metro area, and vacancy rates remaining low, prolonged investment interest in as-is and value-add properties in the high-barrier-to-entry counties of Bergen and Passaic will prevail well into the foreseeable future, according to Gebroe-Hammer Associates.
The firm recently arranged two separate sales involving three buildings and 53 units located throughout the borough of Cliffside Park and City of Paterson.
Senior vice president Debbie Pomerantz exclusively represented the sellers in both transactions while senior vice president Nicholas Nicolaou procured the buyer in the Cliffside Park deal. Pomerantz also arranged the buyer of the Paterson buildings.
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