Matthews™ Drives Competitive Sale of Hoboken Mixed-Use Property at 95% of Asking Price

JERSEY CITY, NJ—Matthews™, a commercial real estate investment services and technology firm, represented the buyer and seller in the $2,802,000 disposition of a mixed-use property located at 94 River Street in Hoboken, New Jersey. Matthews™ Senior Vice President & Director David Ferber facilitated the transaction.

Situated along River Street in the heart of Downtown Hoboken, the asset is one block from the waterfront and a two-minute walk from the Terminal PATH station, providing direct access to Manhattan in under 10 minutes. The four-story building features 3,401 square feet of ground-floor and second-floor commercial space, along with four 650-square-foot, one-bedroom residential apartments on the upper floors.

The seller, a long-term client, elected to dispose of this asset as it represented their final property in New Jersey before relocating to Florida. Despite having previously languished on the market with other brokerages, Matthews™ successfully generated over eight competitive offers within 45 days of marketing the property. Through a relationship cultivated over several years, Ferber directly sourced the neighboring property owner, whose familiarity with the market and adjacent ownership positioned them to capitalize on the property’s value-add potential. The transaction closed at 95% of the asking price without contingencies.

“This sale reinforces that well-located assets continue to attract strong demand,” Ferber said. “A building in a prime location just a few blocks from transportation into NYC generated significant buyer interest despite a compressed cap rate and some vacancy, resulting in a highly competitive marketing process.”

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.