ICON Real Estate Advisors, a new firm specializing in multifamily investment sales, has begun operations in the Mid-Atlantic region. The company is based in West Orange and was founded by former Gebroe-Hammer Associates principals. Its launch was marked by arranging the sale of The Grove at Piscataway, a 110-unit apartment community located at 67 Old New Brunswick Road in Piscataway, for $35.1 million.
The Grove at Piscataway was completed in 2020 and is fully occupied. ICON represented the seller, a private real estate development and investment firm, and managed a discreet marketing process at the seller’s request. Multiple offers were presented before selecting a buyer who was completing a 1031 exchange.
ICON is headquartered at 1 Boland Drive in West Orange. Managing Partners David Oropeza and David Jarvis lead the firm. Together with their partners, they bring more than 100 years of experience and have overseen over $20 billion in combined transaction volume.
David Oropeza previously spent 38 years at Gebroe-Hammer Associates, where he contributed to expanding the firm’s presence across New Jersey. He later served as an executive managing director of multifamily brokerage at Cushman & Wakefield. David Jarvis also worked for more than 25 years at Gebroe-Hammer Associates before joining Cushman & Wakefield as an executive managing director, advising both institutional and private clients on multifamily acquisitions and dispositions.
Other team members include Managing Director Justin Lupo, formerly co-leader of Cushman & Wakefield’s Northeast multifamily platform; Director David Betesh; and Associate Ben Susskind. The team provides advisory services to private owners, family offices, and institutional investors throughout the Mid-Atlantic region.
“Our objective in forming ICON was to build a partner-led platform where experience, relationships, and execution define the business,” said Oropeza. “The Grove at Piscataway demonstrates our ability to run a competitive process that highlights an asset’s fundamentals and delivers results aligned with the seller’s objectives.”
Jarvis added, “Many of the owners we represent are making decisions involving decades of work and generational assets. They deserve senior-level attention and a process designed to create competition and deliver certainty.”
