Cervelli Sells 2 West New York Apartment Buildings

Michael Cervelli Real Estate, LLC announces the sale of 2 West New York Apartment buildings by broker Chris Cervelli.  The first, a Brick 15 unit mixed use property with separate utilities traded for $1,300,000 all cash.  Located just a few blocks from Boulevard East, the buyer quickly saw the value in this ascending market and quickly looked to lock the property up in contract.  The second, a smaller yet even more strategically located property just 250 feet from Boulevard East is a commuter’s dream. The property traded for $97,500 per unit.  Boulevard East offers a one seat bus ride directly into the New York Port Authority bus terminal.  “There is no quicker way to get to the region’s most heavily trafficked public transportation system- not Brooklyn, not Queens.  There is so much upside on this side of the Hudson River before we hit outer borough levels, that we feel this is a  relatively safe investment given pent up investor demand, and the difficulty of residential home buyers to qualify for mortgages,” said Cervelli.