Hamilton House at 700 John F. Kennedy Blvd. East in Weehawken — Courtesy: Gebroe-Hammer Associates
By Joshua Burd
A broker with Gebroe-Hammer Associates has kept active since the height of the COVID-19 outbreak, inking the sale of more than 200 units in Hudson County in June and July alone.
The firm credited Niko Nicolaou, an executive vice president, with representing four separate sellers and spearheading its brokerage teams in procuring the individual buyers in transactions valued at some $75 million. They include the $25.6 million sale of Hamilton House, a 99-unit property at 700 John F. Kennedy Blvd. East in Weehawken, and the $23.75 million trade of The Fairmount at McGinley Square, a 58-unit building at 280 Fairmount Ave. in Jersey City.
“Niko is a strategic thinker who has built his reputation on possessing the sharpest understanding of market conditions, above that of his competitors, and overcoming impossible odds with tenacity and intelligence,” said Ken Uranowitz, president of Gebroe-Hammer, who collaborated with Nicolaou on the Weehawken deal in early June. “Most importantly, he embodies the highest form of integrity even in the most challenging of times and beyond — such as a once-in-a-century pandemic.
“Long considered a rising star in the multifamily brokerage business, he has made the leap to ‘multifamily influencer’ status,” Uranowitz added. “By earning this distinction, he is now one of the most trusted and respected names and advisors in not only Hudson County and North Jersey, but the entire investment brokerage industry at large.”
Nicolaou’s other deals between early June and mid-July include the $19.5 million sale of St. George Harrison Apartments, a newly developed, 60-unit midrise at 400 Passaic Ave. in East Newark. The Hudson County market specialist represented the seller. Madison Hill Properties, while serving as a member of the brokerage team that procured SELA Realty Investments as the buyer.
Gebroe-Hammer also noted that the sale concluded the disposition of a 950-unit multifamily portfolio that spanned several North Jersey municipalities. During the past 18 months, Nicolaou arranged $201.1 million in sales on behalf of Madison Hill Properties and identified each of the buyers.
He also represented KABR Group in its sale of The Fairmount at McGinley Square and procured the buyer, Tenth Avenue Holdings Properties, according to a news release
What’s more, since the start of 2020, Nicolaou has orchestrated the $87 million trade of a prominent high-rise near the Hudson waterfront, the $25.5 million sale of a portfolio involving 87 luxury units in Woodbridge and Rahway and the $9.75 million sale in August of a two-property multifamily portfolio in the Journal Square section of Jersey City.
“Continual engagement and facetime — not necessarily the iPhone kind — with property owners, prospective buyers and every individual or group involved in the exclusive-to-closing process is the foundation for my client-centered approach to every deal,” Nicolaou said. “These past two months are proof my approach is effective in one of the most historic economic cycles characterized by the shockwaves of a pandemic.”
Weehawken apartment building fetches $25.4 million, Gebroe-Hammer says
