Business & Finance

Press Releases

East Orange Multi-Family Sale Sets All-Time High Per-Unit-Price


Gebroe-Hammer Associates has established a new, all-time-high price-per-unit benchmark within one of the state’s hottest urban multi-family submarkets with the $11.25 million sale of 44 luxury apartment-rental units at 75 Prospect St., in East Orange – known as the “Castle on Prospect.” 

Managing Director David Oropeza, the firm’s urban market specialist, exclusively represented the seller and procured the buyer, a long-time client and veteran East Orange investor, in the transaction that yielded a $250,000 per-unit price. From contract to closing, the trade was finalized within a three-week timeframe.

“Renters and investors have discovered New Jersey’s newest crown jewel – East Orange, where almost three-quarters of the population are renters and about 80% of the housing stock is comprised of small, mid- and high-rise apartment buildings,” said Oropeza, a 30-year Gebroe-Hammer and East Orange/Essex County brokerage veteran. “Comprised of 19 constituent neighborhoods, each of which has its own character and aesthetic landscape, East Orange is a city of service providers, sales and office workers and executives who appreciate the wide range of residential living options, a walkable lifestyle and immediate access to mass- and vehicle-transit options.”

Sign Up for E-News

Built in the late 1920s, the Castle is a classic Art-Deco-era building with hand-painted tile in the lobby, vaulted ceilings, large windows with abundant natural light and spectacular views of New York City and South Mountain Reservation. “This is a truly exquisite property, with unheard-of front-to-back layouts, reminiscent of the urban-chic buildings that pepper Manhattan’s Central Park South landscape,” said Oropeza.

Last sold in 2013, 75 Prospect St. is known for its highly unique layouts, among which are three 2BR/1 bath, two 2BR/2 bath, 21 3BR/2 bath, 17 4BR/3 bath and one 5BR/4 bath units. Each features beautiful finishes such as hardwood floors, crown molding and original architectural details, updated eat-in kitchens with stainless-steel appliances, granite or quartz countertops, renovated bathrooms with relaxing soaking tubs, decorative fireplaces and expansive dining rooms. Many of the larger units also feature in-law suites with private baths.  

Situated in the tree-lined Park Ave./Washington Street neighborhood at the crossroads of the Garden State Parkway and Route 280, the 10-story all-brick building features four elevators, doorman service, state-of-the-art security system, assigned covered parking and detached garages. It is just one block from shopping, a supermarket, Bank of America, Dunkin Donuts and many other lifestyle service establishments.

In addition, the complex is situated two blocks from Brick Church Train Station. Served by the Morris and Essex Line, Brick Church offers less than 30-minute door-to-door service to NY Penn Station. Destinations also include Hoboken Terminal to the east and Dover and Hackettstown Stations, to the west.  

“Long recognized as a grand, striking fixture on the East Orange skyline, the Castle has both old-world charm and modern amenities that appeal to the city’s diverse age demographic, from established, young professionals to empty-nesters and retirees,” added Oropeza. “The Castle offers a lifestyle like no other in the city and symbolizes East Orange’s past as well as its now-underway resurgence.”     

The Castle is located near an array of recreational venues, cultural centers and area colleges and universities as well. These include Newark Museum, Branch Brook Park, Van Vleck House & Gardens, Seton Hall University and Rutgers New Jersey Medical School/Newark Campus.    

Gebroe-Hammer is the leading multi-family investment sales brokerage firm in New Jersey and the entire tri-state region. In 2016, the firm closed more than 132 deals involving 12,117 total units sold for $1.83+ billion while concentrating on suburban and urban high-rise and garden-apartment properties throughout the Northeast and nationally. Gebroe-Hammer also markets mixed-use and free-standing office and retail properties. Widely recognized for its consistent sales performance, the firm is a 13-time CoStar Power Broker.

TAP Into Another Town's News:

You May Also Be Interested In

Sign Up for E-News


Spring is (Almost) Here

Get ready for farmers markets and outdoor events, spring is bound to come at some point! To help you get ready Sadie's has lots of new spring products including this great Market Tote by Feed- the purchase of this cute everyday bag will donate 50 school meals. While stopping in for this tote check out some of the other great spring items just in. Don't forget the charity of the month is ...

Feeling Lucky

Shop of the morning to you! It’s that time of year when everyone’s color is green! Stop by Sadie's to get your St. Patty’s shirt before the big day. While your here and feeling lucky check out our latest Spring styles for Men and Women. You may make your friends green with envy.

Horoscope: Have a birthday between 3/13 and 3/24? If you stumble into a ...


AtlantiCast: Episode 13

On this episode of AtlantiCast, new clinical studies in the fields of cardiology and immunotherapy, national and statewide recognitions for Atlantic Health System medical centers and the inaugural AtlantiCast Collab Challenge!


South Orange Police Blotter - Adult Arrests for Shoplifting and DWI Reported

March 16, 2018

South Orange Police Blotter as of March 16

Adult Arrest/Shoplifting - William Minitee, a 45 year old Irvington resident was arrested on Thursday, March 8, at approximately 12:40 p.m. for shoplifting. Security officers at the Stop & Shop on Valley Street observed Minitee conceal several items on his person and then flee the store without paying for the items. Officers stopped a subject ...

Maplewood Police Blotter - Home Burglary, Burglary at DeHart Community Center Reported

March 4 - Burglary; At approximately 1:20 a.m., officers observed a male removing several items from inside DeHart Community Center. The male was identified as 22 year old Joe Carr of Irvington. He was arrested and charged with burglary.

March 6 - Burglary; At approximately 11:30 a.m., officers responded to a home on Broadview Avenue on a report of a ...

Maplewood to Hold Spring Egg Hunt on Sunday, March 25

March 19, 2018

MAPLEWOOD, NJ - Hop on down to Maplewood's Spring Egg Hunt! Maplewood will hold its 34th annual hunt on Sunday, March 25, from noon to 2 p.m. in Memorial Park.

An email from the Maplewood Recreation Department states to "please arrive promptly at noon with a basket or bag to make sure you don’t miss anything."

At last year's event, hundreds of kids ...

Most South Orange Maplewood Schools Plan to Participate in National School Walkout on Wednesday, March 14

SOUTH ORANGE AND MAPLEWOOD, NJ - On Wednesday, March 14, the Women’s March Youth EMPOWER is organizing a National School Walkout. According to the national march website, the walkout is for 17 minutes at 10 a.m. "to protest Congress’ inaction to do more than tweet thoughts and prayers in response to the gun violence plaguing our schools and neighborhoods... and to demand Congress ...

Upcoming Events

Mon, March 19, 7:00 PM

Bow Tie South Orange Cinemas, South Orange

18th Annual New Jersey Jewish Film Festival

Arts & Entertainment Religions And Spirituality

Tue, March 20, 7:00 PM

Bow Tie South Orange Cinemas, South Orange

18th Annual New Jersey Jewish Film Festival

Arts & Entertainment Religions And Spirituality

Wed, March 21, 12:00 PM

Temple Sharey Tefilo-Israel, South Orange

The Purposes and Rhythms of Jewish Living

Education Religions And Spirituality


Wed, March 21, 6:00 PM

Barnabas Health Ambulatory Care Center, Conference Room A/B, First Floor, Livingston

Colon Cancer Screening Education Program at Saint ...

Health & Wellness

Hundreds Cheer on Marchers and Bands at 67th West Orange St. Patrick’s Day Parade

March 19, 2018

WEST ORANGE, NJ – Even a week’s delay caused by a massive snowstorm couldn’t dampen the spirits of the large crowd of spectators who cheered on the marchers and bands who participated in West Orange’s 67th annual St. Patrick’s Day Parade on Sunday.

Wending their way up Main Street were more than 25 bands, including marching bands from northern New Jersey high ...

Members of Brick City Brims Charged for Alleged Roles in Drug Trafficking Organization

NEWARK, NJ – Six members of the Brick City Brims set of the Bloods street gang were arrested last week for their alleged roles in a major drug trafficking organization that dealt heroin in and around Newark.

Tyrone Brown, 34, Lamarr Burwell, 22, and Miles McCloud, 37, all of Newark, and Martin Pettiford, 23, of Irvington, are each charged with one count of conspiracy to ...

Commemoration of Jay Kielwasser, Union Animal Control Officer

March 17, 2018

UNION, NJ – A commemoration of the late Jay Kielwasser's work as Union’s Animal Control Officer took place at Wednesday evening’s Board of Health meeting.

Board President Jackie Carter said Kielwasser, who passed away in April, was the first Animal Control officer appointed by the Board of Health. 

“You really don’t know how someone ...

Springfield Residents Cope as Power Slowly Returns

SPRINGFIELD, NJ - As of Saturday afternoon at 5 p.m. Springfield is showing outage of 2,677 or 25 percent, which is down from over 40 percent in the last two hours. It is also down from 68 percent at the peak. Union County at this point is over 20 percent of JCP&L’s statewide outages. Trucks are visible on Township streets with a caravan spotted on ...

Summer Camp at Lightbridge Academy in Millburn

March 19, 2018

If you are looking for a fun-filled summer for your little ones, look no further!

Lightbridge Academy in Millburn is providing a summer camp program with tons of exciting guests, water play activities, and so much more!

Call us at 973-218-1800 to learn about what we have to offer.


Weekly Specials at Ashley Marketplace - March 16 to March 22

Shop Ashley Marketplace & Cafe for your everyday needs!

This week's specials are:

Litofish Sardines $5.99ea (Ashley Fish Market)
Total Fage Yogurt 4/$5
Aviv Passover Matzos 2/$7
Ground Beef $3.99lb (Meat)
Roasted Vegetables $7.99lb (Prep Food)
President Brie $6.99lb (Cheese)
Iceberg Lettuce $1.99
Serrano Ham $14.99lb (Deli)
Turkey Hill Ice Cream ...

SOMA Film Festival Starts Friday Night, March 16

The 3rd annual SOMA Film Festival is finishing up the final touches before they kickoff this weekend's event at The Woodland, Bow Tie Cinemas in South Orange, and Maplewood Theater.  

With 16 screening programs there is something for everyone. The popular Kids Program is back for two engagements with both sold out as is the Opening Night Party and Screening. 

Tickets are still ...