Current Cap Rates Apartment Buildings

[Sean Fisher]

I am interested to find out what the current cap rates for apartment buildings in New Jersey area?  Class A, B and C buildings.  

[Francesco G.]

I get a monthly report from CBRE and for the North NJ market they list the following cap rates:

Class A (stabilized) 4-4.5%

Class A (value-add) 5-5.5%

Class B (stabilized) 4.5-5%

Class B (value-add) 5.5-6%

Class C (stabilized) 5.5-6

Class C (value-add) no listed cap rate