Cervelli Sells HUD Building in Passaic County
Michael Cervelli, president of Michael Cervelli Real Estate today announced the sale of a 16 unit HUD project building in the city of Paterson. The property sits on a 100×100 lot and had just passed state inspections. The buyer saw opportunity and acted. Packaged intot he deal were 2 buildable lots adding upside value to the project.
The selling agent, Chris Cervelli, has been heavily active in the New Jersey investment market selling large complexes in Hudson, Essex, Union and Passaic counties. Chris Cervelli is quick to add, “The expierence that our company has in Property Management gives us a leg up in the Real Estate transaction process. It allows us to go into a project and be able to value it right and find the right buyer quickly.”
