ELIZABETH, NJ—Gebroe-Hammer Associates recently closed five transactions totaling 157 units. Combined, the trades totaled $6.964 million.
The largest note sale involved the $2.625 million trade of 60 garden-apartment units arranged by the brokerage team of Managing Director Ken Uranowitz; Executive Vice President Joel Schwartz; and Sales Associate Stephen Tragash.
Uranowitz and Tragash also partnered with Executive Vice President Joseph Brecher to complete the $1.25 million note sale of a 41-unit, five-story elevator building nearby. Recently upgraded and situated near shopping and transportation, the property includes 40 one-bedroom units and one three-bedroom unit.
The third note sale, orchestrated by Tragash and Uranowitz, involved 21 mid-rise units that sold for $900,000. Tragash also arranged the two market-rate sales. These include the $1.336 million sale of nearby 415 Westminster Ave., a 24-unit, four-story building near downtown Elizabeth, and the $852,500 sale of 11 units at 342-346 Chilton St.