MEET MATTHEWS™
WHO WE ARE
Matthews Real Estate Investment Services™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Matthews™ delivers superior results through the firm’s industry revered work ethic, unique culture, collaboration, and advanced technology.
Since 2015, Matthews™ has experienced unprecedented growth adding over 1,000 real estate professionals to serve clients. Headquartered in Nashville, TN, and strategically positioned in 25+ offices across the United States, Matthews™ continues to expand into new markets.
WHAT WE DO
Matthews™ redefines what clients expect by accelerating the evolution of how the commercial real estate industry services clients through technology. By leveraging technology and industry-leading resources, Matthews™ is committed to growing and preserving client wealth and adding value to their investment strategy.
PROVEN TRACK RECORD
Our professional team of agents have many years of experience with representing the top institutions, developers, and private clients in commercial real estate. We hire the best and provide them with top of the line support, systems, and materials with the goal of exceeding expectations
25,477 TRANSACTIONS
$66.26B IN DEALS CLOSED
FULL-SERVICE REAL ESTATE SOLUTIONS
1,000,000 INVESTOR DATABASE
1,000+ AGENTS & EMPLOYEES
Our centralized client services foster specialization and collaboration across all divisions to provide an array of commercial real estate solutions for our clients.
INVESTMENT SALES
› Multifamily
› Net Lease Retail
› Shopping Centers
Industrial
Healthcare
Office
Self-Storage
Hospitality
Auction Services
When you hire Matthews™, you have the power of investment professionals strategically positioned across the country to sell your deal. We have access to the largest database of capital from private and institutional investors. With our collaborative culture, agents from across the country work together to source buyers through the Matthews™ network. CAPITAL MARKETS
› Debt & Structured Finance › Equity LEASING
› Landlord Representation › Tenant Representation
david ferber, cpa
VP & DIRECTOR | MULTIFAMILY
MOBILE (201) 218-9156 DIRECT (551) 888-0042
EMAIL david.ferber@matthews.com
LIC. NO. 01469842 (NJ), 110401336343 (NY)
David specializes in multifamily investment sales across New Jersey, with a strong focus in Hudson County. Since 2019, David has sold 1,520+ units totaling over $340M in transaction volume. His localized market knowledge and wide network of investors has helped him achieve a 95% closing ratio. He has worked alongside private investors, institutions and developers across northern New Jersey.
David previously worked at Ernst & Young as a Tax Senior in the real estate department before joining one of the largest commercial real estate companies in 2019 as a multifamily specialist in Hudson County. David’s awards and achievements consist of 2020 National Pace Setter award, 2021 Rising Star award and 2022 Shooting Star Award. David is committed to serving his clients with the highest quality work product and service that lead to a successful transaction.
PROFESSIONAL ACCOMPLISHMENTS
} 2024, 2023 — Leader in Real Estate — NJBIZ
} 2023 — Sales Achievement Award — Matthews™
} 2023 — Influencer in Multifamily — GlobeSt.
} 2022 — Shooting Star Award
} 2021 — Rising Star Award
} 2020 — National Pacesetter Award
AFFILIATIONS AND MEMBERSHIPS
} New Jersey Department of Real Estate
} New Jersey Real Estate Commission
License No. 01469842 (NJ)
} New York Real Estate Commission
License No. 10401336343 (NY)
Jordan Anhalt
SENIOR ASSOCIATE | MULTIFAMILY
MOBILE (201) 321-2925 DIRECT (551) 277-1260
EMAIL jordan.anhalt@matthews.com
LIC. NO. 1433493 (NJ), 10401266944 (NY)
Jordan Anhalt is a Senior Associate at Matthews Real Estate Investment Services™, focusing on expanding the company’s investment sales platform in Hudson County. His extensive experience in multifamily asset management gives Jordan a deep-seated understanding of the owner’s perspective, adding value to his sales approach. With over a decade of experience in the industry, Jordan’s ambition and passion for providing clients with top-tier support and guidance make him an asset in the field. Jordan’s background in financial analysis and underwriting successfully equips his clients with a unique perspective on the commercial real estate market, aiding them in making informed decisions for a long-term, profitable investment portfolio.
Prior to joining Matthews™, Jordan served as a Production Manager at Greystone, where he was involved in over $676 million in financing in 2023 alone. During his tenure at Greystone, Jordan orchestrated innovative debt and equity solutions tailored to the needs of multifamily commercial property owners and developers. He also demonstrated expertise in facilitating substantial loan mortgage executions across a spectrum of lending platforms including Fannie Mae, Freddie Mac, CMBS, bridge, balance-sheet, and special situation lending. Preceding his role at Greystone, Jordan held the position of underwriter at Bravo Capital, where he conducted meticulous sizings and underwrote FHA loans.
AFFILIATIONS AND MEMBERSHIPS
} New Jersey Department of Real Estate
} New Jersey Real Estate Commission
License No. 01469842 (NJ)
} New York Real Estate Commission
License No. 10401336343 (NY)
STATE OF THE MARKET
HUDSON COUNTY, NEW JERSEY
TRENDS, CHALLENGES, AND OPPORTUNITIES | 2022-2024
The multifamily real estate market in Hudson County, New Jersey, has faced a dynamic landscape over the past three years. From fluctuating interest rates to evolving investor sentiment, here’s a comprehensive overview of the market’s performance from 2022 to 2024 and the opportunities that lie ahead.
MARKET OVERVIEW
2022: A STRONG START WITH RISING RATES
} 5-Year UST Rates: January: 1.20% | December: 3.76%
} Buildings Sold: 116
} Total Units Traded: 2,143
} Total Volume: $537,073,012
} Average Cap Rate: 5.59%
The multifamily market in 2022 was resilient, despite rising interest rates. The five-year U.S. Treasury yield began at 1.20% in January and climbed sharply to 3.76% by year-end. Despite these rate hikes, the market achieved strong sales volume, with 116 buildings sold. This translated into 2,143 units and over $537 million in transaction volume. A stable cap rate of 5.59% highlighted strong investor interest, even as borrowing costs increased.
2023: MARKET ADJUSTMENT AMID HIGHER RATES
} 5-Year UST Rates: January: 3.85% | December: 4.00%
} Buildings Sold: 90
} Total Units Traded: 1,376
} Total Volume: $330,879,573
} Average Cap Rate: 5.79%
By 2023, rising rates weighed on the market, with the five-year UST climbing to 4.00% by year-end. The number of buildings sold fell to 90, a 22% decline compared to 2022. Total units traded dropped to 1,376, and transaction volume decreased to $330.9 million. A slightly higher cap rate of 5.79% mirrored cautious investor sentiment as participants adjusted to elevated borrowing costs.
2024: CONTINUED SOFTENING WITH SIGNS OF OPTIMISM
} 5-Year UST Rates: January: 3.84% | December: 4.11%
} Buildings Sold: 73
} Total Units Traded: 949
} Total Volume: $205,079,090
} Average Cap Rate: 5.80%
In 2024, the market continued to soften as the five-year UST inched higher to 4.11% by December. Transaction activity declined further, with 73 buildings sold, marking a 37% drop from 2022. Total units traded fell to 949, and transaction volume decreased to $205.1 million. The cap rate rose slightly to 5.80%, reflecting ongoing market adjustments and investor recalibration.
HUDSON COUNTY: A HUB OF GROWTH AND OPPORTUNITY
Hudson County continues to thrive as a premier destination for renters, fueled by its proximity to Manhattan, robust transit network, and diverse housing options. Jersey City leads the transformation with large-scale projects such as One Journal Square which highlights the city’s extensive growth, with 7,900 units currently under construction. The Heights stands out as a key investment area with a cap rate of 6.10% and a total sales volume of $146 million, reflecting strong demand despite no new deliveries over the past year.
Hoboken’s tight vacancy rate of 3.7% underscores its status as a supply-constrained gem, offering limited new supply but catering to a young, affluent demographic. Meanwhile, North Bergen and Union City continue to draw renters with their affordability and accessibility. North Bergen has expanded its inventory by 20% over the past decade, with developments like the 363-unit Capstone at Port Imperial driving interest. Union City’s proximity to Manhattan makes it particularly attractive. Bayonne also benefits from its strategic location along transit routes, boasting a cap rate of 6.40% and a high occupancy rate of 95.19%. Developments such as Bay 151 attract rents with incentives like two months free rent.
Weehawken and Harrison further showcase Hudson County’s transitoriented growth. Weehawken’s luxury waterfront developments cater to high-income earners, with rents often exceeding $3,200 per month. Harrison’s significant expansion, delivering over 8,000 units since 2018, has increased Class A inventory by more than 300%, supported by its transit links to Manhattan. Investment hotspots like Journal Square, with a cap rate of 5.50% and West New York, with a 97.90% occupancy rate, highlight Hudson County’s robust market dynamics. Despite challenges such as slower employment growth in tech and finance, Hudson County remains a diverse and thriving hub for renters, developers, and investors alike.
RENT BY MARKET & BEDROOM TYPE
$2,000 $3,500
$2,500 $3,000
$1,500
$1,000
The Heights Journal Square McGinley Square Bergen Lafayette West New York Greenville Bayonne
AVERAGE RENTS
G reenville Bayonne B ergen Lafayette West New Yrok
J ournal Square M cGinley Square
The Heights
G reenville Bayonne
ergen Lafayette West New Yrok J ournal Square
cGinley Square
Heights G reenville Bayonne
ergen Lafayette West New Yrok
ournal Square
cGinley Square
