We are entering our 104^th year in real estate.  We have been through many market cycles and if there is one certainty, it is change.  Only a few years ago, investors were in bidding wars to purchase properties at very low cap rates, especially multifamily properties in our strongest rental markets.  Change came in late 2008 with the collapse of the capital markets and recession but we continued to do business as we have since 1906. 

Fortunately, we did not experience a collapsing investment real estate market.  On the contrary, we continued to have more clients than properties available.   As the stock market dropped, more and more investors sought the safe refuge of investment real estate.  Even as the stock market rebounds, investors continue to look for safer opportunities to diversify their holdings. 

In 2009, we closed numerous investment real estate transactions and were once again the leading multifamily real estate sales firm in New Jersey.

I am constantly asked, “How is the market?”  Our market – New Jersey, eastern Pennsylvania, southern New York and Delaware – is healthy.  We did not experience the overdevelopment, level of condominium conversions and speculation that led to the dramatic market highs and lows that we have witnessed in parts of the Southeast and Southwest.  Nor have we experienced an overabundance of distressed properties available at significant discounts.  Investors continue to seek the stability and reliable returns for which our market is known. 

Real estate provides a safe place to invest where owners can get a decent sheltered return, especially compared to the low returns presently offered by banks and the sometimes negative returns provided by the stock market.  The multifamily market continues to be the strongest commercial real estate market.  The multifamily rental market has not been affected nearly as much as the commercial market.  A vacancy or two in a multi-unit apartment is not nearly as serious as the vacancy of single tenant in a shopping center or office building.  As a result, multifamily properties remain in demand and are still selling at relatively aggressive prices and low cap rates.