The market in Hudson County remains strong despite a slight national cooling in the housing sector, with several completed sales setting records in Bayonne and beyond.
Matthews, a national real estate brokerage, recently announced several completed multifamily transactions across Bayonne, West New York, and Hoboken that reflect the region’s strong investor demand and market resilience. The firm believes these transactions highlight how Hudson County’s multifamily sector continues to defy interest rate pressures with sustained buyer activity.
Perhaps the most noteworthy sale involves a 20-unit property at 783 Kennedy Boulevard in Bayonne. The sale achieved a record-setting $207,000 per unit, which represents the highest price ever paid for a pre-war building in Bayonne. The property went under contract in the second week of marketing and closed with 95% of the asking price.
Elsewhere in the Peninsula City, a 27-unit, four-building portfolio at 129-139 West 54th Street also sold for 92% of the asking price at $1.35 million. Matthews navigated a complex closing involving three buyers, three contracts, and a single loan package that nonetheless coordinated all closings within a single day, finalizing the deal last month.
Heading north, a condominium conversion at 330 Hudson Street in Hoboken commanded $380,000 per unit in a sale that was also finalized in October. Three of the five units in the building were delivered vacant, sparking a bidding frenzy that generated 15 offers within weeks.
Selling off market for $3.925 million at a 6.1% cap rate, a 19-unit property at 6700 Park Avenue in West New York also changed hands. The deal closed within 45 days at the property, which features a long-term supermarket tenant on the ground floor and offers a textbook example of the demand for Hudson County mixed-use assets with in-place income and growth potential.
Together, Matthews says these deals reflect Hudson County’s evolving investment landscape that is defined by competitive bidding, rising per-unit pricing, and buyers prioritizing location, scale, and upside.
