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Gebroe-Hammer Associates Download Word Doc: Click Here Release Date: Thursday, June 28, 2007 GEBROE-HAMMER CLOSES FOUR ESSEX COUNTY DEALS FOR $7.9 MILLION LIVINGSTON, N.J., June 28, 2007 – Gebroe-Hammer, one of New Jersey's most active real estate brokerage firms specializing in the sale of multi-family, retail and commercial investment properties, recently completed four major transactions totaling nearly $7.9 million in Essex County. The activity involved deals in East Orange and Newark. David Oropeza, executive vice president, spearheaded the $4.45 million two-property package deal in East Orange working with Dustin Steiner, area sales associate of Gebroe-Hammer. The sale involved a 43-unit apartment building at 112 Lincoln Ave., and a 33-unit building at 444 Prospect Ave. The properties are located near several major roads including the Garden State Parkway. The firm was awarded the exclusive listing to market both properties on behalf of the seller. The buyer is a long-time loyal Gebroe-Hammer client. Melanie Scroble, Esq., of the Hackensack law firm of Fero, LaBella & Zucker represented the buyer. William Munday, Esq., of the Roseland law firm of Lowenstein Sandler represented Steiner, the seller. In Newark, Oropeza along with David Jarvis, vice president, were responsible for the $2.1 million sale of 482-488 Summer Avenue, a 39-unit apartment complex. Newark is located approximately five miles west of Manhattan and two miles north of Staten Island and is the home of Newark Liberty International Airport, which serves the New York metropolitan area. Attorneys for the transaction were Samuel Silverman, Esq., a sole practitioner based in Spring Valley, N.Y., represented the buyer; and Jonathan Mehl, Esq., a sole practitioner based in Rutherford, N.J., represented the seller. In East Orange, Oropeza handled the $900,000 sale of 12-16 Ampere Parkway, a three-story, 22-unit building to PPE TWO LLC. The seller was Twenty Second Tea LLC. Attorneys for the transaction were Richard Kelin, Esq., of Feinstein Raiss Kelin & Booker, LLC of West Orange, N.J., representing the seller; and David M. Taus, Esq., of Livingston, N.J., representing the purchaser. Oropeza worked with Greg Pine, vice president, on the $475,000 sale of 189 Elmwood, East Orange, a two-building, 12 unit complex. Pine was given an exclusive by the seller to market the property, which is located near several major roads including the Garden State Parkway. Attorneys for this transaction were Martin Cowan, Esq., a sole practitioner based in Elmwood, N.J., represented the seller; and Irving Tobin, Esq., a sole practitioner based in Hillsdale, N.J., represented the seller. Kenneth Uranowitz, managing director, commented that the diligence and hands-on efforts of Oropeza and his team were the key factors that led to the successful closing of these deals. “Their extensive knowledge of the highly-competitive urban northern New Jersey market along with their ability to overcome challenges distinguishes them from the competition,” Uranowitz said. ### Gebroe-Hammer Associates, is the dominant brokerage firm in the New Jersey tri-state region, specializing in investment/sales of multi-family, retail, and office properties. The company provides innovative brokerage services to a wide range of private owners, REITS, private equity firms and other institutional investors. Gebroe-Hammer’s proven track record on behalf of its clients has resulted in consistent growth every year since its inception, with a large percentage of repeat business from owners and investors. The firm’s brokerage activity encompasses diverse property categories, ranging from suburban high-rise, mid-rise and garden-apartments to retail and office properties including real estate in urban areas undergoing revitalization and redevelopment initiatives. The company’s prime geographic area of focus includes New Jersey, Pennsylvania and New York, with additional transactions nationwide as well as representation of owners located around the globe. Gebroe-Hammer Associates 
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David Oropeza, executive vice president, and Dustin Steiner, area sales associate of Gebroe-Hammer completed a $4.45 million two-property package deal in East Orange The sale involved a 43-unit apartment building at 112 Lincoln Ave. (pictured), and a 33-unit building at 444 Prospect Ave.