Cervelli closes on a Union City Property in Four Days
Michael Cervelli Real Estate announces the sale of 381-383 Mountain Road in Union City, NJ. The property, which overlooks Manhattan, is a 6-family apartment house, which includes garage parking. Situated directly across the street from Troy Tower, this property offers the investor a range of future opportunities. The property was settled for a $600,000 cash transaction which was orchestrated by Chris Cervelli and was under contract in just 4 days. The deal however was not quite so smooth as there was an open permit issue, which needed to be dealt with. This did take some time and tested the patience of both buyer and seller but everyone stayed focused on the ultimate goal and the deal was able to close.
Union City continues to be a hotbed for apartment house investment. Given its proximity to Manhattan the sixth borough is a more competitive option for commuters than Queens and Brooklyn.
