Gebroe-Hammer to serve as broker for E. Orange multifamily portfolio

By
ROI-NJ Staff
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Gebroe-Hammer Associates has been chosen as the exclusive broker for a portfolio of multifamily properties in East Orange, it announced Wednesday.

The South Harrison-Clinton Portfolio includes three buildings totaling 129 units in the Brick Church neighborhood:

  • 49 and 55 S. Clinton St., 53 units;
  • 94 S. Harrison St., 46 units;
  • 362 and 370 S. Harrison St., 30 units.

David Oropeza, executive managing director with the Livingston-based firm, is leading the assignment on behalf of the owner, Rockledge.

“Collectively and individually, the South Harrison-Clinton Portfolio properties possess historically stabilized occupancy rates for multifamily product that hails from their early- to mid-20th century vintage,” he said in a prepared statement. “In conjunction with its already-completed renovations undertaken by current ownership, including kitchen, bath, flooring and community space capital improvements, each of the properties is primed for upside associated with East Orange’s accelerating redevelopment initiatives.”

The midrise properties offer layouts ranging from studios to three-bedroom apartments.