Matthews™ Closes Two McGinley Square Multifamily Properties Amid Strong Investor Demand

JERSEY CITY, NJ—Matthews™, a commercial real estate investment services and technology firm, completed the sale of two multifamily properties, located at 19 Orchard Street & 229 Summit Avenue in Jersey City, New Jersey. Matthews™ Senior Vice President & Director David Ferber represented the seller and buyers in the combined $2,685,000 transaction.

Located in Jersey City’s rapidly growing McGinley Square neighborhood, the properties benefit from close proximity to Journal Square, Manhattan-bound transportation, and ongoing redevelopment throughout the area. Each asset features six two-bedroom, one-bathroom apartments averaging 750 square feet, along with six private storage units and on-site laundry facilities. 229 Summit Ave also offers five on-site parking spaces.

Leveraging the Matthews™ agent’s deep expertise in the Jersey City multifamily market, the seller brought the properties to market despite significantly lower transaction volume across the region. By marketing each asset simultaneously, Matthews™ generated a competitive bidding environment among local investors for both properties. The buyers were sourced directly, both of whom were attracted to the strong fundamentals, proven cash flow, and long-term growth potential of the respective assets. Closing at a combined average price per unit of approximately $224,000, the transactions highlight the depth of investor demand for value-add multifamily opportunities in Jersey City’s growing neighborhood.

“Quality properties with strong fundamentals and rental upside continue to command premium pricing here in Jersey City,” Ferber said. “What we’re seeing is that capital has not disappeared. Investors are simply being more selective, and well-located multifamily properties continue to generate meaningful competition.”

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.