Matthews™ Executes Disposition of Jersey City Mixed-Use Asset in 60-Days

JERSEY CITY, NJ—Matthews™, a commercial real estate investment services and technology firm, represented the buyer and seller in the disposition of a ten-unit mixed-use property located at 140 Carlton Avenue in Jersey City, New Jersey. Matthews™ Senior Vice President & Director David Ferber, CPA, facilitated the $1,850,000 transaction.

Located within Jersey City’s Hudson Waterfront submarket, the asset offers convenient access to Journal Square commuter rail, the Hoboken/NJ Transit Terminal, and major thoroughfares including Tonnelle Avenue. The three-story property spans 5,957 square feet and features a dedicated 700-square-foot ground-floor retail space, complemented by a 100 percent free-market residential rent roll consisting of ten one-bedroom, one-bath apartments averaging approximately 680 square feet.

The seller, who had maintained a long-standing relationship with Ferber, brought the property to market as part of a strategic decision to capitalize on buyer demand while prioritizing a timely and certain closing. Ferber positioned the asset and sourced a value-add investor within the first week of marketing at 95 percent of the asking price with no contingencies. Matthews™ coordinated closely with both parties and their financing sources to structure multiple loans and facilitate the transfer of the property’s separately held ownership interests, ultimately facilitating an all-cash closing in under 60 days at $185,000 per unit. The buyer plans to renovate the residential units and pursue average rent increases of approximately 15 to 20 percent while improving the property for long-term ownership.

“This sale shows the value of staying close to owners well before they are ready to transact. We first advised the seller years ago, continued to discuss the market and strategy, and were ready to move quickly when the timing became right. Within the first week, we delivered an offer that gave the seller both a strong price and a high degree of closing certainty,” Ferber said. “This was not a standard 10-unit closing. The fractured ownership structure required several loans, careful coordination, and a clear plan for bringing every piece together. Solving that complexity while preserving the buyer’s no-contingency commitment was a major reason the seller could move forward with confidence.”

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.