Prime Approved Multifamily Development Opportunity In The Heart Of Downtown Newark Matthews™ is pleased to present 18 Oliver Street (“the site”), an exceptional approved multifamily development opportunity positioned in the heart of Downtown Newark. The site is approved for a 227-unit, six-story residential development, offering investors a rare opportunity to acquire a shovel-ready development project with substantial scale in one of Northern New Jersey’s most active urban growth markets.

Approved 227-Unit Development With Significant Scale The approved plans provide for 227 residential units across six stories, creating an institutional-scale multifamily opportunity while maintaining an efficient mid-rise development profile. The project is positioned to introduce a substantial amount of new housing into Downtown Newark and capitalize on continued demand for modern rental products in the city’s urban core.

Premium New Construction Product Positioned To Capture Strong Renter Demand

The approved development provides an opportunity to deliver a modern, institutional-quality residential asset designed around the needs of today’s renter. New construction, contemporary unit layouts, and a comprehensive amenity offering can position the project to compete effectively with existing and planned multifamily supply while capturing demand from young professionals, students, healthcare and education employees, and residents seeking convenient access to Manhattan and the broader New York metropolitan area.

Unmatched Transit Connectivity & Regional Accessibility

18 Oliver Street benefits from Downtown Newark’s exceptional transportation infrastructure, with convenient access to Newark Penn Station, NJ Transit, PATH, Amtrak, Newark Light Rail, and major bus routes. Residents can efficiently access Manhattan, Jersey City, Hoboken, Newark Liberty International Airport, and major employment centers throughout Northern New Jersey. This connectivity provides a significant competitive advantage for multifamily development and supports long-term renter demand.

Downtown Newark’s Continued Urban Renaissance

The surrounding Downtown Newark market continues to benefit from significant residential, commercial, institutional, and infrastructure investment. Major anchors including Prudential Center, NJPAC, Rutgers–Newark, NJIT, University Hospital, and Mulberry Commons contribute to an increasingly vibrant live-work-play environment. The continued expansion of residential housing, retail, restaurants, entertainment, and public infrastructure positions 18 Oliver Street to benefit from Newark’s next phase of urban growth.

Institutional-Scale Asset With Multiple Exit Opportunities

Upon completion and stabilization, the 227-unit development has the potential to appeal to a broad range of multifamily investors, including private equity groups, institutional owners, REITs, and other long-term capital sources. The project’s approved status, substantial unit count, Downtown Newark location, and proximity to regional transportation create multiple potential exit strategies and provide investors with the opportunity to create significant long-term value through development and stabilization.