Cervelli Real EstateSells 3 Jersey City Properties as Specific Areas of the City Heat Up

1760 Kennedy Boulevard, a 3 story 7 family building, 143-145 Monticello Avenue, a mixed use development site, and 208 Bidwell Avenue, a Brick walk up apartment house, all sold to different investors, with the same intentions, Getting in early.  Each of these properties is located in the Greenville Section of Jersey City, which has largely been ignored by outside investors, but now with the torrent or capital entering the market, and a death of options in Brooklyn and Queens, this untapped area of Jersey City is experiencing wild interest.  “The Infrastructure has been here with the Light Rail, and the various funding sources, but now the demand has come and it’s been like trying to drink from a fire hydrant.”  Said Chris Cervelli. “An example of this was the speed at which the Kennedy Boulevard transaction went into contract.  24 hours after I had a signed listing, we had an accepted offer on the Kennedy boulevard property, and the Monticello Avenue project ended up in a bidding war.   208 Bidwell Avenue was actually bought, rehabbed and sold within a 12 month period.” All of these examples prove the aggressive nature of investors for hard assets in quality locations.

Headquartered in North Bergen, New Jersey, Michael Cervelli Real Estate, LLC was founded in 1983 and is acknowledged as among New Jersey’s most experienced specialists in Investment Real Estate Sales. Aimed at providing professional brokerage services to private investors and financial institutions involved in income producing multi-family properties and shopping centers, the company has posted steadily increasing sales results. Cervelli has an undisputed reputation on honesty, integrity and experience in the Investment Real Estate Industry.