Bayonne Multifamily Property Trades at 97% of List Price

BAYONNE, NEW JERSEY—Matthews™, a commercial real estate investment services and technology firm, represented the buyer and seller in the sale of a multifamily property located at 301 Broadway in Bayonne, New Jersey. Senior Vice President & Director David Ferber facilitated the $1,165,000 transaction.

The seller, a repeat Matthews™ client, brought the property to market to capitalize on strong investor demand. Leveraging the firm’s proprietary AI platform, Artemis, Ferber targeted multifamily investors throughout Bayonne, Hudson County, and North Jersey, generating a competitive buyer pool. Ferber directly sourced the buyer, whose combination of pricing and certainty of execution maximized value for the seller and allowed the transaction to close efficiently at 97 percent of the list price.

Located in Bayonne, the six-unit property is 100 percent free market and offers approximately 21 percent rental upside. The asset features renovated units, in-unit laundry, separately metered utilities, and recently replaced roof and boilers. Situated approximately an eight-minute walk from the 8th Street Light Rail Station, the property provides convenient access to Manhattan via the PATH train.

“Buyers responded to the combination of strong in-place income, free-market rents and meaningful remaining upside,” Ferber said. “The seller had a well-maintained asset with a number of major improvements already completed, which allowed us to create strong interest and ultimately close at 97% of the asking price. It’s another example of the continued demand we’re seeing for well-positioned Bayonne multifamily properties.”

Matthews™ is also marketing four additional Bayonne properties for sale. View properties here.

For more information, please contact David Ferber or visit www.matthews.com.

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.