Gebroe-Hammer Wrapped 2017 with $231M in December Sales

Ken Uranowitz, president, Gebroe-Hammer Associates

LIVINGSTON, NJ—Gebroe-Hammer Associates has set a new benchmark for year-end sales, closing more than $231 million in transactions in December in 14 sales involving 1,315 apartment-rental units that spanned seven New Jersey and three Northeastern Pennsylvania counties.

“Multifamily properties continue to be in extreme demand and deal velocity remains accelerative, setting the stage for a robust 2018,” says Ken Uranowitz, Gebroe-Hammer’s president, and a multifamily brokerage veteran who has been with the firm, now marking its 43^rd year, since its inception. “Demand will be even greater in 2018 thanks to the new tax law, which lowers the deductibility of residential property taxes and mortgage interest. Current renters who were considering home purchases will remain in place and keep occupancy rates AND rents at very healthy levels in the foreseeable future. Unfortunately, however, this will create an even greater imbalance of the supply/demand dynamic in an already undersupplied marketplace.”