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Multifamily sale closes at $12m.

Throughout New Jersey's gateway counties of Essex and Union, Gebroe-Hammer Associates reports that multifamily housing investments soared in the first quarter as demonstrated by the sale of 164 total units for more than $12.075 million. The six separate transactions were orchestrated or·ches·trate  
tr.v. or·ches·trat·ed, or·ches·trat·ing, or·ches·trates
1. To compose or arrange (music) for performance by an orchestra.

2.
 by the Livingston, N.J.-based multi-family investment property brokerage firm on behalf of new investors as well as long-term Long-term

Three or more years. In the context of accounting, more than 1 year.


long-term

1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term.
 clients.

The largest transaction involved the sale of 43 units, comprised of 26 one-, 6 two- and 4 three-bedroom layouts plus seven retail stores, for $3.385 million at 1607-1615 Maple Ave. in Hillside Hillside may refer to: Places
Australia
  • Hillside, New South Wales
  • Hillside, Victoria, a suburb of Melbourne
United Kingdom
  • Hillside, Merseyside, a suburb of Southport
  • Hillside, Angus, Scotland
. Gebroe-Hammer's David Jarvis, senior vice president, and Avi Oren, vice president, represented the seller. Hillside Equities LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
, and procured the buyer, a long term Gebroe-Hammer client.
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Title Annotation:NEW JERSEY
Publication:Real Estate Weekly
Date:Jul 9, 2008
Words:122
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