Three-Building Multifamily Portfolio Trades for $3.89M in New Jersey

WEST NEW YORK, NJ—Matthews™, a commercial real estate investment services and technology firm, represented the seller in the disposition of a fractured multifamily portfolio located at 6110-6114 Park Ave in West New York, New Jersey. Senior Vice President & Director David Ferber facilitated the $3,890,000 transaction.

The seller initially explored selling the properties individually as part of a strategy to reposition their holdings and pursue larger investment opportunities. Leveraging Artemis, the firm’s proprietary AI-powered CRM, Ferber expanded the properties’ exposure to qualified multifamily investors. The firm directly sourced a buyer, a longtime client, who expressed interest in acquiring the entire 21-unit portfolio rather than the individual buildings. The buyer secured the properties at an attractive 6.70% cap rate and approximately $185,000 per unit.

Located in the North Hudson County submarket, the 21-unit multifamily portfolio consists of three brick condominium buildings totaling approximately 15,750 square feet. All units feature two-bedroom layouts, with 18 operating as free-market units. The properties offer approximately 32% potential rental upside and benefit from convenient access to public transportation, neighborhood amenities, and Manhattan, located approximately five miles away.

“This closing reflects the value of staying engaged, adapting our strategy, and maintaining clear communication throughout the process. After exploring the sale of the buildings separately, we secured a buyer for the full 21-unit portfolio, delivering a streamlined outcome for our seller and an attractive investment for our buyer,” Ferber said. “Our relationships on both sides, combined with Matthews’ collaborative platform and consistent execution, were instrumental in closing this transaction.”

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.