WEST NEW YORK, NJ— Matthews™, a commercial real estate investment services and technology firm, completed the sale of a dual-asset portfolio located at 5700 Palisade Ave and 533 67th Street in West New York, New Jersey. Matthews™ First Vice President and Director David Ferber represented the seller in the $4,350,000 transaction.

 

The seller, a generational family with longstanding ties to the market, elected to divest the portfolio to complete a 1031 exchange into a newly constructed 42-unit building in Jersey City. Matthews™ leveraged its multi-year relationship with the ownership group to guide the process and ensure a seamless transition into the up-leg acquisition.

 

With strong investor interest generating eight offers, Matthews™ created competitive pressure while ensuring execution certainty under an accelerated timeline. The transaction closed 75 days from listing and 40 days from contract signing, with Matthews™ procuring the buyer directly.

 

“This sale required tight coordination and a buyer capable of performing quickly,” Ferber said. “We’re proud to have delivered the strongest price, the right buyer, and a seamless transition into the seller’s Jersey City acquisition.”

 

The buyer, a well-established local operator, plans to renovate units and increase rents by up to 70%, supported by strong lender relationships that enabled a rapid closing despite a challenging financing environment.

 

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 25+ offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.