Gebroe-Hammer completes 10M sale in Brick

Commercial real estate firm Gebroe-Hammer Associates recently announced it completed the sale of Olympic Village, in Brick, for $10.1 million.Commercial real estate firm Gebroe-Hammer Associates recently announced it completed the sale of Olympic Village, in Brick, for $10.1 million.

The firm’s managing director, Joseph Brecher, led the brokerage team alongside Vice President Adam Zweibel. Brecher and Zweibel represented the seller, Longwood Ave, and secured the buyer, Brick APTS LLC.

“Olympic Gardens is truly unique — rather than having apartment units over office space, it has two distinct, stand-alone property uses adjacent to one another,” Brecher said. “It is particularly rare for the Outer North Ocean County submarket, where the overall multifamily housing stock — and apartment-living options — barely exceeds 10 percent,”

Olympic Gardens is comprised of an 80-unit multifamily structure and an adjacent 14,336-square-foot office center located at 1451 Route 88, Brick. 

“Nearby mass transit, and retail and dining options, add to Olympic Gardens’ lifestyle conveniences,” Gebroe said in a news release. “NJ Transit bus service to Port Authority Bus Terminal, Philadelphia and Newark is available along local routes. The Lakewood Bus Terminal also is less than four miles away and nearby roadways include routes 70 and 35, county roads 528 and 549, and the Garden State Parkway.”