WEST ORANGE, N.J. — David Oropeza and David Jarvis, former executives at Livingston, New Jersey-based brokerage firm Gebroe-Hammer, have founded ICON Real Estate Advisors. The new multifamily investment sales firm has arranged its debut transaction with the $35.1 million trade of The Grove at Piscataway, a 110-unit property in Piscataway. The asset, developed in 2020, was 100 percent occupied at the time of the sale. ICON represented the undisclosed seller in the deal and sourced a buyer that was completing a 1031 exchange.
Oropeza spent 38 years at Gebroe-Hammer Associates. He later joined Cushman & Wakefield as an executive managing director of multifamily brokerage. Jarvis was with Gebroe-Hammer for more than 25 years and also later joined Cushman & Wakefield as an executive managing director, advising institutional and private clients on the acquisition and disposition of multifamily assets.
Oropeza and Jarvis are joined by Managing Director Justin Lupo, who previously co-led Cushman & Wakefield’s Northeast multifamily platform, Director David Betesh and Associate Ben Susskind. The team advises private owners, family offices and institutional investors throughout the Mid-Atlantic region.