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Cervelli Real Estate & Property Management announces the sale of 72-74 Woodlawn avenue in Jersey City. The 9 unit building has been recently renovated and featured large 2 bedroom box style units and separate utilities. Using its hybrid marketing platform, the company identified a buyer from out of the area looking to place funds from a recent 1031 transaction. Headquartered in North Bergen, New Jersey, Cervelli Real Estate & Property Management was founded in 1983 and is recognized as one …
Cervelli Real Estate & Property Management is pleased to announce the sale of several Hudson County assets. The first asset is a mixed-use property in the Greenville section of Jersey City, which is comprised of one commercial space and one residential space, that sold for $265,000. The next two assets are located in Union City. Cervelli Real Estate assisted in the sale of a 5-unit residential building at 615 4th Street that sold for $625,000, and a mixed-use building with …
Cervelli Real Estate & Property Management announces the sale of 1405 Bergenline Ave. The property, an 8- family, brick residential building with separate boilers and hot water heaters sold for $875,000. A long-time client of Cervelli was looking to dispose of the asset he acquired in a bulk purchase several years ago. After Cervelli obtained the exclusive listing, the team immediately began marketing the property using its proven marketing strategy and quickly generated several offers. The closing was delayed …
Cervelli Real Estate & Property Management announces the sale of two investment properties in Hudson County. The first was a 6 unit brick building located in the heights section of Jersey City. Within 3 days of acquiring the listing, Cervelli had procured several non-contingent offers from area investors and landlords. Two days after that, the property went under contract for a record amount of $1,170,000. The second building, a 3 story brick mixed use property located in West New York sold …
Cervelli Real Estate & Property Management announces the sale of several North Jersey Apartment assets. The first, in West New York was located at 215 64th Street. The multifamily property had been on the market several times with other brokers but they were unable to identify the correct buyer who could close on the deal. There were some complications with an oil tank and some old, unaddressed violations, but Cervelli has built a reputation for closing difficult deals. Two …
Cervelli Real Estate & Property Management announced the sale or 3 mixed use buildings. All three are located on Summit Avenue which is one of Union City’s business districts that has or late received a lot of infrastructure upgrades. The buildings, located at 1401, 1403 and 905 Summit Avenue each had their own challenges but also offered great upside. 905 Summit, the building with the most physical issued had many major infrastructure upgrades that needed to be performed in order …
Cervelli Real Estate & Property Management announces the sale of 5808 Buchanan Place in West New York. The property, a mixed use brick property which was comprised of 2 separate building on one lot contained 10 apartments and one retail space. The property traded for $ 1,700,000 which equated to a 5.4% Capitalization rate. The extremely high price per unit represents the faith investors have in the West New York market as the flight to quality continues. There were many …
Cervelli Real Estate & Property Management announces the off market sale of 251 Walker Street in Cliffside Park. The owner, a long time client of the firm wanted to find a buyer that could close quickly and with cash, and therefore did not want to place the property officially on the market. The property, a 6 unit apartment house with all 2 bedroom apartments sold for $810,000, all cash sight unseen with no inspection contingencies. From the time that Chris …
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