Bayonne Multifamily Sale Sets 2026 Price-Per-Unit High at $212,500

NEW YORK, NY—Matthews™, a commercial real estate investment services and technology firm, represented the buyer and seller in the $2,550,000 sale of a multifamily property located at 514 Kennedy Boulevard in Bayonne, New Jersey. Senior Vice President & Director David Ferber closed the transaction at 98% of the list price. The closing marked the highest price-per-unit sale for a Bayonne multifamily property with more than six units year to date in 2026 at $212,500 per unit, setting a new pricing benchmark for this segment of the local market.

The seller, an experienced multifamily operator who rarely sells, engaged Matthews™ to bring the building to market. Ferber generated four serious offers within two weeks of signing the listing, and directly sourced the buyer. The contract was circulated the next week and signed several weeks later, with the transaction proceeding smoothly to close at just north of a 6.5% cap rate.

Comprised of 12 100% free-market apartments, the property offers two- and three-bedroom layouts with 24% potential rental upside. The building features renovated units, on-site laundry, recently replaced boilers and roof, and separately metered units. Located within the Constable Hook submarket, the property is approximately a nine-minute walk from the 22nd Street Light Rail Station, providing convenient access throughout Hudson County and into New York City.

“The response came quickly because buyers recognized the combination of free-market rents, current income, and room to grow,” Ferber said. “This seller had built a strong asset and was selective about selling. Securing a buyer so quickly and closing at this price was a strong outcome for ownership and a clear sign of demand 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.