GEBROE-HAMMER ARRANGES $7.9M OF APARTMENT SALES IN NEW JERSEY
CALDWELL AND MONTCLAIR, N.J. — Gebroe-Hammer Associates has arranged the sale of two northern New Jersey apartment properties for $7.9 million. The two separate transactions total 49 units in Caldwell and Montclair, and long-term owners sold both properties. In the Caldwell transaction, the 27-unit, two-story apartment building at 40 Roseland Ave. traded for $4.3 million. Ken Uranowitz, president, and David Jarvis, executive vice president at Gebroe-Hammer Associates, represented the seller, a second-generation private owner, and identified the buyer. In Montclair, the four-story, 22-unit building at 9-11 Seymour St. sold for $3.6 million, which equates to more than $166,000 per unit.