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Gebroe-Hammer arranges sale of 3-building Bergen County portfolio

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Gebroe-Hammer Associates announced Monday it has arranged the $6.6 million sale of a three-building portfolio in Bergenfield.

The portfolio, located at 1 Murray Hill Terrace and 117 and 111 S. Washington Ave., consists of 36 multifamily units, three commercial units and an adjacent single-family home.

Greg Pine, executive vice president, and Nicholas Nicolaou, senior vice president, represented the seller, Lisalene Properties LLC, and procured the buyer, a private investor.

“Tucked into central Bergen County, Bergenfield has an enviable combination when it comes to multi-family investments: a college-educated population where about one-third are renters and the apartment housing stock is the equivalent, in terms of percentage,” Nicolaou said. “Rounding out its attraction are good schools, a thriving commercial district with quaint shops and outstanding dining and very walkable neighborhoods.”

The largest of the properties is 1 Murray Hill Terrace, which is a single, three-story building with a mix of 27 studio, one- and two-bedroom units.

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Emily Bader

Emily Bader

Emily Bader is the Web Editor and Social Media Coordinator at NJBIZ. She is a Brielle, N.J. native and a Rutgers University alum. You can contact her at emilyb@njbiz.com.

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