A garden-style apartment complex with more than 150 units has changed hands in central New Jersey, in a deal arranged by Gebroe-Hammer Associates, capping a year in which the firm brokered nearly $1.5 billion in multifamily investment sales.
Real Estate NJ’s 2023 Market Forecast
After finding its footing in the pandemic, the commercial real estate market was back on its heels by late 2022 thanks to fast-rising interest rates and fears that the worst is still to come. Developers, investors and other industry stakeholders in New Jersey are now bracing themselves for more uncertainty in 2023, as they also prepare to seize the opportunities that often come with economic distress.
