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New York & Tri-State  + New Jersey  + Apartments  | 

Gebroe-Hammer Closes Off-Market Sale of Leonia Apartments

Gebroe-Hammer Associates has arranged the off-market, $19.8-million sale of Grand Lee Apartments, an 80-unit garden-style property in the Bergen County, NJ borough of Leonia. VP Joseph Gehler, along with sales representative David Betesh, exclusively represented the long-time owner/seller, Fairlawn CO, and procured the buyer, an unnamed private investor. 

Located at 159 Fort Lee Rd., near the high-identity intersection of Grand Avenue, Grand Lee Apartments features a mix of 36 one-bedroom and 44 two-bedroom floorplans with hardwood flooring throughout and private entrances. 

With more people in Leonia riding the bus to work than in nearly 97% of all neighborhoods nationwide, “The buyer sought to add Grand Lee Apartments to their portfolio because of its prime location, the ever-growing professional-caliber tenant base commuting to business and financial jobs in New York City and very tight multifamily housing supply in general, as compared to rental demand,” said Gehler. 


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).