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Gebroe-Hammer arranges sales of Union County multifamily properties

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Cornell Arms, 735 Park Ave., Plainfield.
Cornell Arms, 735 Park Ave., Plainfield. - ()

Gebroe-Hammer Associates has arranged $22.7 million in transactions involving four apartment properties in Elizabeth and Plainfield.

The brokerage team of Senior Vice President Stephen Tragash and Vice President Gehane Triarsi completed the deals.

“Like its surrounding neighbors, Union County multifamily continues to perform solidly with stabilized occupancy rates, favorable absorption of new product and asking and effective rents that are on the upswing,” Tragash said. “All are projected to remain favorable, which in turn feeds the appetite of multifamily investors.”

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Elana Knopp

Elana Knopp

Elana Knopp covers all things real estate for NJBIZ. You can contact her at eknopp@njbiz.com.

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