{"id":16447,"date":"2020-03-18T07:15:23","date_gmt":"2020-03-18T14:15:23","guid":{"rendered":"https:\/\/yieldpro.com\/?p=16447"},"modified":"2020-03-18T15:02:40","modified_gmt":"2020-03-18T22:02:40","slug":"gebroe-hammer-associates-arranges-65-million-multifamily-portfolio-sale-of-400-units-across-three-north-hudson-municipalities","status":"publish","type":"post","link":"https:\/\/yieldpro.com\/2020\/03\/gebroe-hammer-associates-arranges-65-million-multifamily-portfolio-sale-of-400-units-across-three-north-hudson-municipalities\/","title":{"rendered":"Gebroe-Hammer Associates arranges $65 million multifamily portfolio sale of 400 units across three North Hudson municipalities"},"content":{"rendered":"

Gebroe-Hammer Associates<\/a>\u2019 Niko Nicolaou, executive vice president, has arranged the $65M sale of the Golden Peak Portfolio, a 400-unit multifamily package spanning the Hudson Palisades region. Situated directly across from Midtown Manhattan and the Upper West Side of New York City, the portfolio\u2019s 13 buildings are located throughout the North Hudson municipalities of West New York, Union City and North Bergen.<\/p>\n

Nicolaou, who is Gebroe-Hammer\u2019s Hudson County market specialist, exclusively represented the seller, Urban American Management and Dixon Advisory, and procured the buyer, Tuli Realty, LLC. Financing was arranged by Elliot Treitel of Meridian Capital Group. The transaction marks the eighth portfolio sale arranged by Nicolaou involving three buildings or more during the past three years.<\/p>\n

\u201cNorth Hudson\u2019s municipalities are among the most densely populated in the United States because of their proximity to Hoboken and Jersey City to the south and Manhattan just across the Hudson River,\u201d said Nicolaou. \u201cAnd like their South Hudson counterparts, these towns and cities are undergoing a renaissance of their own that presented new ownership an extremely rare acquisition opportunity with an untapped critical-mass value-add component.\u201d<\/p>\n

In total, the Golden Peak Portfolio is comprised of seven properties in West New York, five in Union City and one in North Bergen. Each is located at the following addresses:<\/p>\n