Bayonne, NJ – Hudson County’s multifamily real estate market continues to demonstrate remarkable resilience, even as national housing trends show modest cooling. Recent transactions in Bayonne, Hoboken, and West New York illustrate strong investor confidence and the ongoing appeal of well-positioned urban properties in the region.
A standout deal in Bayonne has set a new benchmark for pre-war properties. The 20-unit building at 783 John F. Kennedy Boulevard sold for $207,000 per unit, marking the highest price ever recorded for a pre-war multifamily property in the city. The sale attracted immediate interest, going under contract in just the second week of marketing and closing at 95% of the asking price. Local and regional brokers note that this transaction underscores the sustained demand for historically significant buildings that combine character with income potential.
Other Bayonne properties have also commanded strong prices. A four-building, 27-unit portfolio at 129-139 West 54th Street sold for $1.35 million, representing 92% of its asking price. This transaction required the coordination of three buyers, three separate contracts, and a single loan package, yet Matthews, the brokerage handling the sale, successfully closed all agreements on the same day. Such complex closings highlight the sophistication of the current investor environment and the efficiency required to navigate it.
Further north, Hoboken’s multifamily sector remains highly competitive. A five-unit condominium conversion at 330 Hudson Street closed in October at $380,000 per unit, with three of the units delivered vacant. The property sparked a bidding war with 15 offers submitted within weeks, reflecting the ongoing demand for boutique multifamily conversions in one of Hudson County’s most desirable neighborhoods.
According to industry observers, these transactions collectively reflect an evolving Hudson County landscape where per-unit pricing continues to rise, bidding wars are increasingly common, and investors prioritize scale, location, and future upside. Multifamily buildings with historical significance or mixed-use components remain particularly attractive, as buyers seek both immediate income and long-term appreciation.
With Bayonne now claiming the record for its pre-war building pricing and surrounding areas like Hoboken and West New York continuing to see robust demand, Hudson County’s multifamily sector proves itself a dynamic and resilient segment of New Jersey real estate. Developers, investors, and buyers are increasingly looking to the area for growth opportunities, making it one of the most closely watched markets in the region.
Readers interested in exploring more Hudson County and statewide real estate developments can find additional insights and listings under Explore New Jersey’s real estate coverage.
