Cervelli sells a 50-unit Hotel in the Journal Square Area
Michael Cervelli Real Estate announced the sale of 168 Academy Street in Jersey City, a 50-unit hotel in the Journal Square area. The property was owned for many years by a local hotel operator who made the decision to sell to a group of hotel investors interested in breaking into the Hudson County market. The deal, brokered by Chris Cervelli, CCIM was traded for $17,000 per room.
