A long-time management client of Cervelli Real Estate & Property Management was planning on retiring and wanted to sell his apartment building and redeploy the funds into a single tenant net lease (STNL) property. The owner had originally bought the apartment from a seller who was doing a 1031 Exchange, and now he was in the same shoes. During the holding period, the Cervelli Team conducted a property analysis to identify ways to optimize the value of the asset in …

CCIM designation paves the way for a successful close. The CCIM designation is more than just a school. It’s more than just technology – it’s relationships. When you are introduced to a CCIM, you know you are starting off at a very high standard. This is the reason why CCIM to CCIM referrals are so successful. Chris Cervelli has worked with CCIMs frequently in the past and has just closed another successful transaction from an out-of-state referral. Aaron Gingerelli, a CCIM …

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Cervelli Real Estate & Property Management has negotiated 1850 SF of retail space at 1402 ,Union Port Road in the Bronx.  The property located just off of Westchester Avenue is a neighborhood center that attracts many local businesses due to its incredible pedestrian foot traffic.    The property is owned by an out of state entity and is managed by Cervelli.   The site is managed by Armen Tagmizyan, who is senior member of Cervelli’ s Management team. Headquartered in North Bergen, New Jersey, …

Cervelli Real Estate & Property Management announced the sale of 2507 Bergenline Avenue in Union City.  The subject property is a 3 story mixed use property containing one commercial store front and 3 residential units.  The property traded for $975,000 which represented a 7% cap rate.  This shows the continued strength in the North Jersey Investment Market. New Jersey can expect to see a continuation of this trend as many New York investors are crossing the river in search of yield. Headquartered in North …

Cervelli Real Estate announces the sale of a 16 unit mixed use property located at 520-522 Ocean Avenue, Jersey City.  The Project was originally rehabbed in the mid 1990’s by working with the city’s “home funds” department to offer subsidized housing to local residents.  The property featured 4 commercial stores along with 12 apartments.  The property sold for $1,250,000. Headquartered in North Bergen, New Jersey, Cervelli Real Estate & Property Management was founded in 1983 and is recognized as one of the …

Cervelli Real Estate and property management has successfully closed on a 5 unit apartment house with garage parking in Teaneck.    The property had recently had several of its apartments upgraded and featured separate heat and hot water.  The property served as an excellent passive investment for the buyer. If you would like more information on this transaction, or would like to view a copy of the offering, please call us at 201-868-6300 Headquartered in North Bergen, New Jersey, Cervelli Real …

2406-2408 Palisade Avenue is a 9 unit apartment house in Weehawken which sits on the cliffs and offers views of Manhattan skyline.  The seller, an operator of this lone property decided to sell and take advantage of the hot Hudson county market.  Weehawken in particular is of interest to investors given its access to Manhattan via various sources as well pas its highly rated school systems.    The buyer, was completing a 1031 and quickly realized the value hidden in this …

North Bergen, N.J. (June 2019) – Cervelli Real Estate & Management is pleased to announce that it has been managing a 344-unit multifamily community in Manchester, N.J. during re-positioning of the asset. Cervelli was awarded the management in December for the property that has been renamed Suncrest Village. “We are very excited to be part of this transformation,” said Michael Cervelli, President of Cervelli Real Estate & Property Management. “Our management team has partnered with new ownership to implement …

Cervelli Real Estate & Property Management announces the trade of 19 units in Jersey City to help owner achieve a complete collateral swap in order to retain the favorable loan terms.    The owner, a longtime client and developer in Jersey City was looking to reduce operating costs and consolidate his holdings into a more central geographical location.  The disposed properties included multi-family properties on Atlantic Avenue, Ocean Avenue and Fulton Street.  The Replacement collateral was located at 424 Monmouth Street. …