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1.5‑story, freestanding retail‑office building at 160 Main St., Matawan, sold for $2.1 million to an unnamed buyer, per Colliers’ recent announcement. The 0.64‑acre property houses a multi‑tenant complex that Colliers highlighted as a “high‑visibility asset with strong multifamily development potential,” reflecting ongoing market momentum.
The site’s zoning, secured by the former owners this year, authorizes a 46‑unit multifamily and retail development. Developers could construct a three‑story structure totaling roughly 44,725 sq ft of residential space, 3,040 sq ft of retail, plus parking.
Colliers’ transaction team—Vice Chair Jacklene Chesler, Vice President Patrick Norris, and Director Matthew Cohen—closed the deal, with seller representation by Carey Tajfel of TFE Properties. The property was listed on Ten‑X.com, an online commercial real‑estate marketplace.
