Colliers Represents Buyer Jacklene Chesler, Patrick Norris & Matthew Cohen In $2.1M Matawan Sale

The property involved in this transaction is a development site located at 160 Main Street in Matawan. It encompasses 0.64 acres and is zoned for 46 residential units and 3,040 square feet of retail space. The vacant property, spanning 5,000 square feet, was sold for $2,100,000 through the Ten-X platform, which attracted nine bidders.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $2,100,000
• Address: 160 Main Street
• Market: Matawan
• Asset Type: Development Site
• Acres: 0.64
• Buyer’s Representatives: Jacklene Chesler, Patrick Norris & Matthew Cohen - Colliers
• Seller’s Representative: Carey Tajfel - TFE Properties

The transaction was brokered by Colliers, paving the way for a three-story mixed-use development with plans for eight affordable units. The involvement of multiple bidders highlights the asset's potential and attractiveness in the market.