-
Cervelli Real Estate & Property Management announces the sale of 1805 Bergenline Avenue in Union City. The property, a 6 family walk up with separate utilities sold for $650,000. The sellers had previously listed the property several times with a competing company but they were not able to procure a client. Chris Cervelli and his team marketed the property to their Private Client Group and identified a local owner who had not been previously introduced to the property. Though there …
Cervelli is pleased to announce another property management success story. We were asked to help maximize cash flow of two under performing strip centers consisting of 90,000 square feet in Middlesex county. The under performing properties are privately owned and were managed by a regional property management company. We immediately performed a comprehensive investigation and created a plan to address the issues we uncovered in addition to Ownership concerns. In less than 8 months income was maximized and expenses were …
Cervelli is pleased to announce another successful turnaround of 130 plus units in Hudson county. The under performing properties were family owned and managed for decades by one of the heirs. We performed a comprehensive inspection and created a plan to address revenue loss, bloated expenses and abatement of an unmanageable, long list of code violations.. In less than 18 months expenses are under control and the properties are generating a positive income. Code violations have also been addressed. This …
Cervelli is pleased to announce a successful transition of two strip centers of 130,000 square feet in Morris and Passaic County into an appreciating asset. The under performing properties are corporately owned and were managed by a national property management company. We immediately performed a comprehensive investigation and created a plan to address Ownership concerns. In less than 12 months income has been maximized and expenses are under control. The properties are now generating a positive income and are …
Cervelli Real Estate & Property Management is pleased to announce the acquisition and stabilization of a 36-unit affordable housing complex in Hunterdon County. The under performing property was previously owned and managed by a nonprofit corporation. A dearth of attention to the complex for several years prior to Cervelli’s involvement had caused the value to begin to erode. The property suffered multiple hardships, including an insufficient revenue stream due to high vacancies, outrageous energy expenses and tenancy issues ranging from …
Cervelli Real Estate & Property Management announces the off market sale of 11 Zabriskie Street in the Heights section of Jersey City to a long time client. The seller, who is a licensed realtor, was looking to sell quickly in order to fulfill a 1031 obligation. Under a time crunch, we knew the expertise of Cervelli would be critical, and despite the fact of being a realtor, called and asked if we could help. Ironically enough, another client of the …
Cervelli Real Estate & Property Management announced today that it sold 2 multi-family properties in Hudson County. The sale was facilitated by Chris Cervelli who represented both parties in the transaction. The buyer, an investor from New York purchased the properties using the proceeds from a 1031 exchange. The two properties are located just outside of the booming Journal Square neighborhood, and one of them set a record for pre war buildings by trading for over $186,000 per unit. …
1 Marine Rd, Suite 304
North Bergen, NJ 07047 US
Ph: (201) 868-6300
Fax: (201) 868-6055© Cervelli Real Estate & Property Management. All rights reserved. Website by Eighty6.
