MACRE Properties is pleased to announce the off-market acquisition of 146 South Broadway, a four-unit multifamily property located in South Amboy, New Jersey. The property was acquired for $840,000, or $210,000 per unit, and is fully stabilized with a going-in NOI yield of 8.2%.

The off-market transaction was sourced through direct local relationships with local investors. The transaction reflects MACRE's continued focus on acquiring cash-flowing, transit-oriented assets in New Jersey submarkets benefiting from active redevelopment and long-term demand tailwinds.

Strategic Location

Situated directly on Broadway, South Amboy's primary retail thoroughfare, and just two blocks from the South Amboy NJ Transit station, the property offers direct rail service to New York Penn Station via the North Jersey Coast Line.

South Amboy was one of New Jersey's first designated Transit Villages in 1999 and has since attracted over $500 million in planned redevelopment investment, including the 1,875-unit Manhattan Beach Club waterfront project and a forthcoming commuter ferry terminal to Lower Manhattan.

The city's combination of transit connectivity, waterfront access, and active municipal redevelopment efforts has driven meaningful home price appreciation, with median sale prices rising over 13% year-over-year.

"South Amboy checks every box in our investment criteria: a fully stabilized asset with strong current cash flow, a compelling per-unit basis, and a location embedded within a redevelopment area that is attracting significant public and private capital." — Matthew Cianci, Founder of MACRE Properties

Investment Thesis

At two blocks from the train station and on the town's main commercial corridor, we believe 146 South Broadway is well positioned to benefit from the ongoing transformation of this waterfront community.

146 South Broadway marks MACRE Properties' latest acquisition and continues the firm's active expansion across North America and Europe. MACRE is actively seeking off-market multifamily and mixed-use assets in transit-oriented submarkets that present strong current yield and upside in rents.